Raise Millions by Hustle Fund VC Page 124 What investors look for in a data room A data room is where founders store their most important company documents, like: ● Incorporation documents ● Bylaws ● Cap table Basically, data rooms show that your startup is a legit company with actual employees. Super early-stage startups don’t need a data room. But we’ve met great pre-seed and seed-stage startups that have a simple Dropbox or Google Drive folder with their key documents. For series-A and beyond, data rooms are important because they have a lot more documents, like: ● Financial projections ● Client contracts ● Board minutes ● Founder stock purchase agreements ● Option plan and stock option agreements ● 409A valuation report hustlefund.vc / @hustlefundvc