We’re always refining our processes to best serve our members, partners and entrepreneurs and that extends to our investment process. We’ve previously discussed that on our blog here but check out our updated investment process below.
WOMENA has one pitch meeting every other month. Applications to pitch are open and ongoing.
Initial Application: In order to be considered for an investment, interested entrepreneurs must fill out an application form here.
Initial Review: WOMENA staff will review the company’s application and supporting documents. If we believe that the company is a good fit, the entrepreneur will be contacted by the WOMENA team via email to set up an initial screening.
Initial Screening: During the initial screening, a conversation will be had between the entrepreneur and the WOMENA team to further discuss the company and the business plan, including the current status and future plans of the company. If there is continued interest after this meeting, the company will be scheduled to pitch at a WOMENA pitch meeting.
Pitch Preparation: Once the company has been approved to pitch, the entrepreneur will be asked to prepare materials for the pitch according to WOMENA templates. Upon submission of materials, a WOMENA team member will review them and schedule a call to offer edits and presentation coaching. WOMENA members will be provided with an overview of each company scheduled to present at the dinner.
Initial Due Diligence: During the pitch preparation stage, the company will also submit materials and answer questions for initial due diligence. Various aspects of the business will be assessed including market size/opportunity, competition, competitive advantage, financial projections and team members. It is crucial that entrepreneurs are in contact with the WOMENA team at this point to answer any questions in order to move the process along quickly.
Pitch Meeting: At the pitch meeting, the entrepreneur has 8 minutes to pitch to our entire membership, followed by 10 minutes of questions and answers. At the conclusion of the pitch, members will have the chance to privately discuss the company with other members and initial due diligence findings will be shared. Investors will then be asked to indicate their interest in the company on a survey. Those who indicate interest will receive a follow up call from WOMENA to confirm their continued interest. Three interested investors are required in order for WOMENA to follow up with the company.
Follow-Up: No more than two weeks after the pitch, WOMENA will schedule a conference call with the WOMENA team, interested investors and the entrepreneur. On this call, investors will have the chance to further discuss with the entrepreneur and to notify the WOMENA team of any additional due diligence questions they would like answered in the report. At the conclusion of this call, if there is at least one investor still interested in the company, WOMENA will produce a due diligence report.
Further Due Diligence and Commitments: At this stage, the WOMENA team will continued in depth due diligence on the company. Investors will then be provided with a complete due diligence report for their review. Upon review of the document, interested investors will make a hard commitment to invest in the company. The valuation and proposed terms will then be negotiated.
Funding and Monitoring: Once investors have committed and all parties are satisfied with the terms of the investment, investors will transfer their investment to WOMENA SPC, the entity that will then invest in the company. A copy of the agreement will be given to investors for their records. It is expected that entrepreneurs will continue contact with WOMENA via regular reporting and updates. WOMENA and investors in the company will also be available to access for their network and related resources.