The 8-Folder Data Room Every Founder Needs Before Series A
The investor says, “Send us access to your data room.” The founder says, “Sure, by tomorrow.” Then comes a long night of digging through email attachments, an old laptop and the CA’s WhatsApp chat.
A data room built in a panic looks like one. Files are missing, names make no sense and the investor’s analyst starts wondering what else is disorganised. At VSURE, we ask founders to build theirs before they start raising funds, using the eight folders below.
Key takeaways
- A data room is the single place where investors review your company’s documents.
- Build it four to six weeks before you start your Series A conversations.
- Eight folders cover almost everything an Indian investor will ask for.
- A tidy data room speeds up diligence and builds trust on its own.
What is a data room?
A data room is a secure online folder that holds the documents an investor needs to verify your business. For Series A funding, it is the backbone of due diligence. A shared drive with controlled access is enough. You do not need expensive software.
The 8 folders every data room needs
Company overview
This is the first folder an investor opens, so keep it short and current.
- Latest pitch deck and a one-page summary
- Business plan and product roadmap
- Organisation chart
Corporate records
These prove the company exists properly and that decisions were approved correctly.
- Certificate of incorporation, MoA and AoA
- Board and shareholder resolutions
- Statutory registers and ROC filings
Cap table and funding history
Investors want to know exactly who owns what before they buy in.
- Current cap table, fully diluted
- Agreements from earlier rounds, including any convertible notes
- ESOP policy and grant letters
- Valuation reports from past allotments
Financials
Expect the closest scrutiny here, so every number should tie back to the audited accounts.
- Audited financial statements for the last three years
- Monthly MIS for the last 12 to 24 months
- Financial model with assumptions
- Bank statements, plus sanction letters for any term loans or credit limits
Tax and compliance
Clean filings show the company takes its obligations seriously.
- GST returns and reconciliations
- Income tax returns and TDS filings
- PF and ESI records
- Any notices received, with your replies
Contracts and legal
These show how secure your revenue and operations really are.
- Agreements with your top ten customers and key vendors
- Office leases and licences
- Details of any ongoing or threatened litigation
IP and team
The investor is paying for your IP and your people, so ownership must be clear.
- Trademark and patent filings in the company’s name
- IP assignment agreements from founders, employees and freelancers
- Founder agreements and employment contracts for key hires
Traction and metrics
This is the evidence behind the story in your deck.
- Revenue by month, customer and product
- Retention, churn and unit economics
- Sales pipeline and the top ten customer list
6 rules for running your data room
- Number and name everything. Use folder numbers and clear file names such as “04.2 MIS Apr 2026”. Nobody should have to open a file to learn what it is.
- Add an index. Keep a one-page list of every document at the top level.
- Share in stages. Give the overview and summary financials first. Open the full room after a term sheet is signed.
- Control access. Use view-only links tied to named email addresses, and remove access when talks end.
- Protect sensitive data. Redact employee personal details and customer pricing where contracts require it.
- Keep it current. Update the MIS and the cap table every month, even when you are not fundraising.
If a document does not exist, say so in the index and add a date by which it will. A marked gap is far better than a missing file.
Where VSURE fits in
We have supported 40+ businesses and enabled ₹125 Cr+ in capital, and building the data room is one of the first things we do with a founder. We review every folder the way an investor’s analyst would, flag what is missing and help close the gaps before the first meeting.
Want your data room reviewed before an investor sees it? Write to info@vsure.info.
Frequently asked questions
What should a Series A data room include?
Company overview, corporate records, cap table, financials, tax and compliance filings, key contracts, IP and team documents, and traction metrics.
When should I build a data room?
Four to six weeks before you begin investor conversations, so that you can respond to requests on the same day.
Which tool should I use for a data room?
Google Drive or a similar shared drive works for most Series A rounds, as long as access is controlled and view-only.
Should I share the full data room before a term sheet?
No. Share a summary set first and open the full room once a term sheet is signed.
