The complete Series A due diligence checklist for CleanTech startups. Prepare your data room, anticipate every investor request, and close your round faster.
4–8 weeks
Typical DD Timeline
5
DD Categories Covered
50+
Checklist Items Total
Cleantech DD includes an independent engineer (IE) report for physical assets. This typically takes 4–6 weeks and is investor-commissioned. Prepare project data packages that match ASTM standards.
Documents to have ready before DD begins
Full legal review by investor counsel covering all corporate documents, IP ownership, key contracts, employment agreements, and regulatory compliance. Takes 4–6 weeks.
Full financial audit or reviewed financial statements (Big 4 or regional firm). Full unit economics model with cohort analysis. Multi-year financial model reviewed by FP&A.
Formal background checks for all officers and directors. Reference calls with 5–8 professional contacts per founder. Prior employer verification.
CleanTech Series A due diligence typically takes 4–8 weeks. Full legal review by investor counsel covering all corporate documents, IP ownership, key contracts, employment agreements, and regulatory compliance. Takes 4–6 weeks. Having a complete data room ready before DD kicks off can reduce this timeline by 30–50%.
For CleanTech at the Series A stage, investors focus heavily on: Environmental permits (federal, state, local) by project, Interconnection agreements with utilities, and Project finance model for each asset under development, IRA tax credit eligibility analysis (ITC, PTC, 45X). Cleantech DD includes an independent engineer (IE) report for physical assets. This typically takes 4–6 weeks and is investor-commissioned. Prepare project data packages that match ASTM standards.
Your Series A data room should include: 2–3 years of financial statements (audited preferred); All customer contracts and MSAs; IP ownership documentation and patent portfolio; All employee offer letters and equity agreements; Board minutes for all meetings; All material third-party agreements; Data room access log maintained. Use a structured folder system that mirrors investor expectations — most institutional investors use a standard folder taxonomy.
The five most common DD deal-killers are: (1) undisclosed founder litigation or criminal history, (2) IP ownership gaps — particularly for university-origin technology, (3) customer contract terms that prevent assignment on change of control, (4) cap table math errors or undocumented equity grants, and (5) financial restatements required after revenue recognition review.
Formal background checks for all officers and directors. Reference calls with 5–8 professional contacts per founder. Prior employer verification.
Get the CleanTech Series A due diligence checklist as a Google Sheets or Notion template. Track completion status for every item in your data room.
Includes data room folder template, investor question tracker, and reference FAQ guide