Questions during screening
During the Screening stage, an Assessor may contact you with clarifying questions via AngelHub’s Q&A tool. You will receive an email notification when a question is waiting.
To respond:
- Log into your AngelHub entrepreneur portal
- Open your application
- Go to the Q&A tab
- Read the question and click Reply
- Write your response and click Send
The Assessor receives your response by email and in their AngelHub dashboard.
Questions during due diligence
DD questions are more detailed and more numerous than screening questions. The Project Lead will use the Q&A tool to request specific information across multiple areas of your business.
Typical DD requests include:
- Financial model and historical accounts
- Cap table (fully diluted)
- Key customer contracts
- IP assignment agreements and any third-party licences
- Employment contracts for key team members
- Evidence of EIS/SEIS advance assurance
- Details of any litigation, disputes, or regulatory issues
- Board minutes and company constitutional documents
How to respond well
Be prompt. DD has a timeline and delays from your side slow the process. If you cannot answer a question within 48 hours, acknowledge it and give a realistic date.
Be complete. A partial answer that leads to a follow-up question is slower than a complete answer. Read each question carefully and address every part of it.
Be honest. If there is a problem — a legal dispute, a lost customer, a gap in the cap table — disclose it proactively rather than waiting to be asked. Investors who discover undisclosed problems during DD lose trust rapidly. Problems disclosed upfront can often be managed; problems discovered later are frequently deal-breakers.
Be organised. If you are asked for multiple documents, provide them in a clear, labelled format. A well-organised data room signals operational competence.
Set up a simple data room folder on Google Drive or Dropbox before DD starts. Organise it by category — financials, legal, commercial, team — so you can share relevant documents quickly when asked.
The data room
The Project Lead will ask you to share documents through the AngelHub data room or via a shared folder. The data room gives investors secure, controlled access to sensitive documents without them being sent by email.
Organise your data room with these folders as a minimum:
- Financials — accounts, financial model, management accounts
- Legal — cap table, articles of association, shareholders agreement (if any), key contracts
- Commercial — customer contracts, pipeline, key partnership agreements
- Team — CVs, employment contracts for key hires
- IP — patent filings, IP assignment agreements, any third-party licences
- EIS/SEIS — advance assurance letter, HMRC correspondence
Questions you don’t have to answer
You are not obliged to answer every question — some requests may be premature or disproportionate to where you are in the process. If a request feels unreasonable, discuss it with the Project Lead. In most cases there is a legitimate reason for the request and understanding it helps you respond appropriately.
If you have a specific concern about sharing sensitive commercial information at this stage, raise it. Experienced angel groups are used to managing this — a phased disclosure approach (sharing more sensitive information closer to completion) is common.
Keeping momentum
DD is demanding but momentum matters. A founder who responds quickly, provides complete information, and communicates proactively creates confidence. One who is slow, evasive, or disorganised raises concerns — not necessarily about the business, but about what working with them as an investor will be like.
The way you handle DD is itself a form of due diligence on you as a founder.
