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Process The Atlantic Bridge Ventures Investment process ensures that suitable investment opportunities are rapidly identified, examined and evaluated with due diligence, and carefully mentored and monitored post investment through to effecting an exit strategy. Investment process at Atlantic Bridge takes 2-3 months. Prospect Introduction. Once a deal has been introduced to us it will be discussed at the Atlantic Bridge weekly meeting. If we agree to follow up, it is at this stage that the prospect is formally assigned to an Atlantic Bridge team member. Additional preliminary due diligence may be assigned at this stage. Progressing. If the Principals have decided to do more work on a deal it is promoted to Progressing. Deal progress will be discussed at every meeting. Additional meetings should take place with management, some customer referencing will be carried out and other due diligence will be started. Particular attention will be paid to forming a syndicate with the co-investors who would be complementary with us in developing the full potential of the company. Finally, term-sheet discussions are started with management and possibly existing investors. Project. If the Principals are satisfied with the investment terms and the management presentation the deal is promoted to Project. A full due diligence plan is agreed with a detailed budget. This plan will cover a range of activities including: (i) market assessment; (ii) technology due diligence; (iii) intellectual property rights review; (iv) competitive analysis; (vi) sales pipeline review; (vi) references (direct in person and telephone interviews of customers, prospects, partners, suppliers, existing investors, management); (vii) discussions with potential acquirers; (viii) financial due diligence; (ix) legal due diligence review; (x) directors questionnaire; and (xi) other regulatory checks. Investment Approval Review. A complete detailed investment memorandum is written and circulated to our Investment Committee. The Investment Committee reviews the formal investment proposals and makes a decision on the investment. Investment Committee approval must be unanimous. Confirmatory Due Diligence. Over a period of 4-6 weeks all outstanding due diligence is completed and in parallel legal documentation is agreed. This will include including finalizing service agreements and key man insurance for management. Completion. The completion/closing process involves the following activities (i) signing of all relevant documents; (ii) allotment of shares by the company; (iii) appropriate board minutes submitted; (iv) transfer of funds; (v) inform all Atlantic Bridge investors of the highlights of the investment; (vi) press releases announcing the investment (if appropriate); and (vii) receipt of share certificates from the company.
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