Foundry concentration schedule
DoneSteps
1Open the schedule
Customer A 21%, Customer B 17%. Names redacted in the export.
2Check the deck
The deck says ‘diversified European logos’. The schedule does not.
3Write the condition
IC condition is the signature pages, not a verbal assurance.
Inputs
- Data room export
- Deck
- Founder call
Sources used
Output
38% of €2.1m sits in two renewals inside nine months. That sentence is now the condition on the Invest recommendation.
Memo