Company and asset level
Diligence with the company or asset as the subject: documents, financials, cap table, contracts and market position, each finding bound to its source.
Company and asset levelDiligence for firms running real deal volume
A multi-partner venture firm does not have a diligence problem on any single deal. It has a consistency problem across hundreds of them. Reuben AI structures the work itself rather than only the output, so the diligence an associate runs in their first month is comparable to the diligence a partner ran three years earlier, and both are defensible when an LP asks about them later.
This is the evidence-building phase of Reuben AI's living decision record. Research sources, findings, assumptions and unresolved questions stay connected as the record moves into investment committee review and, after a decision, ownership.
Volume is what breaks unstructured diligence
At firm scale the pipeline is not the constraint. The constraint is that every deal is worked slightly differently, so the committee has no consistent basis for comparison. One partner leans on references, another on financial detail, a third on market structure. Each approach is defensible alone. Together they make portfolio-level judgement guesswork. Structuring the workstreams and their evidence requirements removes that variance without flattening judgement, because the analysis stays with the people and only the scaffolding is fixed.
Associate work that partners can trust on sight
New analysts produce uneven diligence not through inability but through not knowing what a complete workstream looks like at your firm. With evidence requirements attached to each workstream, completeness is visible rather than assumed, and a partner reviewing the file can see where a claim came from and how strongly it is held. Review shifts from re-doing the work to interrogating it.
Evidence that survives the room
The most expensive moment in an IC is a challenge that nobody can answer with a source. When each claim carries its document and tier, a push-back gets resolved in the meeting instead of becoming a follow-up that delays the decision by a week. Where the evidence genuinely does not exist, the memo records it as an open risk, and the committee decides with that visible rather than discovering it in year two.
Round context that carries forward
Venture diligence is never a single event. The company you diligence at seed comes back at Series A with new information and, often, a different team assessing it. Because findings, sources and open questions stay on the investment record, a follow-on decision starts from what was underwritten last time rather than from a blank page. Round structure, dilution and prior syndicate dynamics sit alongside the diligence rather than in a separate model.
The record an LP audit asks for
Years after a decision, the question is not whether the thesis was right. It is what the firm knew at the time and what process it followed. An immutable, decision-level trail answers that directly. It also answers the question emerging managers get asked during fundraising, which is how the investment process actually works rather than how the deck describes it.
Diligence at every level, rolling up to the portfolio
Diligence runs at six levels: the asset or company, the deal, the vehicle, the fund, the manager and the portfolio. Findings at each level connect, so a single holding can be read through its deal, vehicle and fund to the manager, and out to the full portfolio it sits inside.
Vehicle level
Diligence with the vehicle as the subject: SPVs, co-investment and continuation vehicles, feeder and parallel structures, terms, governance and jurisdiction.
Vehicle levelFund level
Diligence with the fund as the subject: structure, terms, jurisdiction, portfolio construction and existing holdings assessed through to underlying holdings.
Fund levelManager level
Diligence with the manager as the subject: track record, team, process consistency, operational controls and governance, evidenced rather than asserted.
Manager levelAsset or portfolio company
The business, property or loan itself.
What to check
Business quality, cash flows, collateral, management, legal and operational risk.
Typical evidence gaps
Unaudited figures, missing contracts, unverified management claims.
Receives from below
Source documents and evidence directly.
Passes up
Findings, risks and open questions on the underlying business, property or loan. Next: deal.
What makes the diligence deep
Diligence is only as good as the context behind the questions it asks. Credit diligence and venture diligence do not ask the same things, a fund in one jurisdiction is not assessed like a fund in another, and a company profile that stops updating at signing stops being useful. Asset class coverage, jurisdiction and vehicle structures, market research and continuously updating company and manager profiles all feed the same diligence record.
Asset class coverage
Native asset classes and sub-asset overlays, so evidence requirements differ by what is being assessed.
Jurisdictions and vehicles
Structures assessed against the conventions of the jurisdiction they are formed in.
Market research
Market structure and comparables attached to the deal rather than held in a separate document.
Living Record & monitoring baseline
Profiles that update continuously, where diligence findings become the monitoring baseline for the life of the investment.
Go deeper on diligence
Each page below covers one part of the diligence layer in detail. Start with the one closest to the decision you are making.
AI due diligence
How extraction, tiering and screening work across the document set.
Deep due diligence
Workstream templates, evidence binding and reference tracking in depth.
Due diligence platform
The platform view: what runs where, and on which investment record.
Due diligence automation
Which parts of diligence are automated, and which stay with people.
PE due diligence software
QofE summaries, debt structure and operational diligence for buyouts.
Best AI due diligence software
A direct comparison against generic assistants and traditional data rooms.
Questions we are asked in diligence demos
How much of our existing process has to change?
Workstream templates are configured to the process your firm already runs during onboarding, starting with a requirements session of at least 45 minutes. The intent is to make your process consistent and evidenced, not to replace it with a generic one.
Does it work across stages, from pre-seed to growth?
Yes. Evidence requirements differ by stage, so templates are set per strategy. Pre-money and post-money SAFEs, convertibles and priced rounds are handled with full conversion math that flows into later rounds.
What happens to diligence we have already done elsewhere?
Existing documents and notes can be brought into the workspace so the record starts from your history rather than from zero. What that migration involves for your firm is scoped during onboarding.
Can the investment committee see confidence, not just conclusions?
Yes. Section-level confidence reflects the tiering of the claims beneath it, so the committee can see which parts of a recommendation rest on verified evidence and which rest on self-reported information.