Protecting sensitive information with advanced security controls in DocSend
When initially raising funds for a new venture capital firm, managing partners want to keep confidential information tightly secured to protect the narrative and reputation of the firm. With DocSend, William has more control over the information he sends out to dozens of potential LPs. For example, when sending out a virtual data room, William sets an expiry date. Sometimes, investors will get back in touch after the link expires, which might indicate that they are considering an investment.
On the other hand, if there are individuals requesting access to the link, but they were not granted information, William can see exactly who was trying to view his virtual data room. ‘Especially when you are sharing proprietary information online, once you press send, typically what you put out there is pretty much gone. We wanted more control over our fundraising documents. In this new landscape of virtual meetings, DocSend provides us with peace of mind knowing our documents aren’t ending up in the wrong hands,’ William shared.
DocSend’s analytics optimises venture capital fundraising
Early on in the fundraising process, William relied on DocSend’s document analytics to help refine his pitch deck. ‘In the beginning, we were trying to figure out what was resonating and what was not. DocSend lets us see what pages people were spending the most time on, which helped us understand the most critical areas of our pitch,’ William shared.
Additionally, DocSend’s analytics helped William approach conversations with potential investors and LPs with an idea of what they cared about most. He was able to see the parts of the deck that people spent the most time on, letting him make his conversations most relevant to potential investors. ‘By looking at how much time people are spending on specific slides, I’m more prepared when approaching meetings with potential investors and am able to anticipate any questions that people might have beforehand,’ William shared. DocSend provides critical information that helps personalise meetings with potential investors early on in the fundraising process.
Forming warm introductions with potential investors
It can be daunting to ask for investors to provide warm introductions to a colleague or a peer. DocSend can help identify new parties that may be interested if someone forwards a link on to a potential LP. ‘If a potential LP we met thinks a peer of theirs might be interested, I can see who they have forwarded our pitch deck to,’ William shared. Uncovering these warm leads in DocSend could take hours out of the painstaking process of trying to determine whether an LP has already viewed your virtual data room.
Additionally, DocSend’s forwarding analytics shows managing partners when pitch decks are getting into the hands of the right decision makers. ‘I love watching who is accessing the pitch deck and seeing how it gets forwarded within an organisation. I’ll use this as a trigger for when to get in touch proactively. It takes a ton of guesswork out of the equation and points us to real leads,’ William shared.
Looking ahead to the future: utilising block list to protect sensitive fundraising materials
As Aperture Venture Capital continues to raise the rest of its $75 million fund, William is looking forward to continuing to explore all that DocSend has to offer for his team. ‘I am excited to try out the block list feature. It’s a great way to add additional layers of security that could prevent potential third-parties from viewing our documents,’ William shared.
With Dropbox and DocSend, William is able to continue to hyperfocus on his venture firm’s mission and pave the way for a new generation of diverse founders.