From an initial outline to controlled data-room access

Establish relevance first

Private project discussions work best when each recipient has a clear reason to review the opportunity. Start by confirming the investor’s current technology focus, acceptable development stage and timing. Record any specific requirements that would determine whether further discussion is useful.

The initial outline should answer that relevance question with only the information approved for that stage. A public catalogue summary must be approved for that purpose. It does not replace a separately scoped release of confidential information.

Consider what can identify the project

Removing the owner’s name does not necessarily make an outline anonymous. A distinctive combination of location, technical details, counterparties or milestones may still reveal the project. Review the outline as a whole before sharing it.

For Tillerstone’s proposed process, agreement to receive information, seller permission to release it and the applicable confidentiality arrangements are separate considerations. Confirm who is receiving the material and what that person may do with it. Do not assume that an introduction authorises onward circulation.

Treat the NDA and access decision separately

An NDA forms part of the agreed confidentiality arrangements. In Tillerstone’s process, it does not automatically grant access to every document. Seller approval, recipient checks and a defined access scope remain separate steps.

Before opening a data room, identify the authorised users and the documents approved for release. Consider whether a restricted view or redacted document is appropriate for the current question. Obtain the relevant professional advice on the actual agreements and legal requirements; this article describes an operating approach, not an NDA template.

• Identify the recipient and the purpose of access.
• Confirm the required permissions and confidentiality arrangements.
• Define the documents and version being released.
• Record access and material releases.
• Review access when the discussion or project position changes.

Keep the next decision visible

After a release, ask what the investor needs to decide next. That may be a clarification, a specialist review or a discussion of transaction terms. Additional disclosure should answer a relevant question, rather than expand simply because more files are available.

Where a material inconsistency emerges, pause the affected release and clarify the facts. Preserve the version history so that recipients can understand what changed. Access and document management support the process; they do not establish investment quality.

Read more about Tillerstone’s transaction process and the scope of evidence states. An enquiry or access to information does not itself establish an advisory relationship or an obligation to proceed.

Matching criteria does not create an automatic mandate

Basic matching starts with existing projects and confirmed investor or lender criteria. For each possible pairing, record three things: what fits, what differs and what remains unknown. A missing field proves neither a match nor a mismatch.

Active sourcing is a separate assignment involving targeted outreach, new contacts beyond the catalogue, interest checks and reporting. Scope and commercial terms are agreed privately. Sharing criteria or optional consent to future notifications does not commission that work.

Before an introduction, the parties agree permissions and terms; the team records who was introduced, for which project and when. Subsequent access answers a specific question. Public listing and private disclosure permission remain separate decisions. Share investor / lender criteria.