Our Process
How Narro screens every company before it reaches an investor.
We conduct independent, multi-layered due diligence on every company we refer. Our angel group partners trust us because we do the hard work of verification, risk assessment, and readiness validation — so they don't have to.
100%
Companies independently screened
3-Pillar
Assessment framework
Written
Feedback at every stage
Zero
Cold introductions
The Narro Standard
We don't make introductions. We make qualified introductions.
Most fundraising platforms match founders with investors and step aside. Narro operates differently. We conduct our own independent diligence before any company is introduced to our angel group network or selected for a multi-angel-group showcase. This means every introduction — whether one-to-one or on stage — carries the weight of our verification, not just the founder's pitch.
Independent verification
We verify claims independently against primary sources. We don't rely solely on documents founders submit. We cross-reference, validate, and confirm before anything moves forward.
Standardized scoring
Every company is assessed through the same three-pillar framework. This consistency ensures fairness across evaluations and gives our partners a uniform basis for comparison.
Partner-aligned criteria
We screen against the actual investment criteria our angel group partners care about. Our diligence is designed to answer the questions investors ask, not generic checklists.
Screening Framework
Every company is assessed through the same rigorous framework.
Consistency matters in diligence. We evaluate every company against three interconnected pillars — legal, financial, and operational — to ensure nothing important is missed and every assessment is comparable.
Legal & Structural Validity
Corporate governance, cap table clarity, shareholder agreements, IP ownership, regulatory compliance, and entity formation are all verified against primary sources. We confirm the company is legally sound and structurally ready for investment.
Financial Quality & Assumptions
We review historical financials, burn rate logic, revenue projections, use-of-capital plans, and unit economics. Assumptions are stress-tested against market comparables and stage-appropriate benchmarks.
Operational & Market Readiness
Team backgrounds, traction metrics, market sizing, competitive positioning, and GTM execution are evaluated against what angel groups expect at each stage. We assess whether the opportunity matches the narrative.
The Diligence Process
A structured, five-step process from intake to decision-ready package.
Our process is designed to be thorough without being burdensome. Each step builds on the last, creating a comprehensive picture of the company's readiness for investment.
Initial Screening & Data Collection
Founders complete a structured intake and submit core documentation. We verify completeness and flag any missing items before formal diligence can commence.
Document Verification & Background Review
Corporate records, financial statements, cap tables, and legal agreements are screened for accuracy and integrity. Founding team backgrounds and references are independently verified.
Deep Dive Assessment
Structured sessions between the Narro diligence team and the founder. We probe business assumptions, financial models, and market claims. All findings are documented in a structured Q&A format.
Risk Scoring & Remediation
Companies are scored across our three-pillar framework. Strengths are highlighted, risks are flagged with severity ratings, and remediation plans are provided where gaps are identified.
Final Review & Investor Packaging
A comprehensive diligence summary is prepared, reviewed for accuracy, and formatted for angel group consumption. Only companies that clear our bar proceed to warm introduction.
No detail is too small when capital is on the line.
Our verification covers the full spectrum of what investors need to know before they write a cheque. Here is what we check on every company.
Corporate Structure
Incorporation documents, governance bylaws, shareholder agreements, board composition, and registered business status.
Financial Records
Audited or unaudited financial statements, tax returns, bank records, burn rate analysis, and capitalisation tables.
Intellectual Property
Patents, trademarks, copyrights, licensing agreements, IP assignments, and freedom-to-operate assessments.
Cap Table & Ownership
Equity distribution, option pools, vesting schedules, convertible instruments, and prior financing terms.
Market Validation
Customer contracts, letters of intent, usage metrics, revenue concentration, competitive positioning, and total addressable market analysis.
Team Verification
Founder backgrounds, prior exits, employment history, key hire qualifications, advisory board credibility, and reference checks.
We have a bar. Not every company clears it.
Our partners trust us because we are selective. We apply consistent standards and communicate outcomes transparently. Every company receives written feedback, regardless of the result.
Cleared for Introduction
Company meets all criteria across our three-pillar framework. Proceeds to warm introduction with a full diligence package and contextual briefing for the angel group. Top-performing companies may also be invited to multi-angel-group investor showcases for direct exposure to 4+ networks simultaneously.
Conditional Pass
Company is fundamentally strong but has minor gaps. Introduced with disclosed conditions and a remediation timeline. The angel group is briefed on the specific areas to monitor.
Remediation Required
Material gaps were identified during diligence. The company receives detailed written feedback and can re-submit after addressing the flagged issues. No introduction is made until the bar is cleared.
Does Not Clear
Company does not meet our standards at this time. Comprehensive written feedback is provided explaining the specific areas of concern. The founder is welcome to re-apply after meaningful progress.