Why 28 Ventures chose Digify for startup due diligence

Find out how 28 Ventures uses Digify to securely share due diligence information with their team and investors

About 28 Ventures

28 Ventures is a boutique venture capital firm that specializes in investing in pre-IPO companies. After investment, they guide their portfolio companies through the IPO process, and have successfully facilitated several companies’ going public on NASDAQ.

We spoke with Nicolas Lin, Partner at 28 Ventures, to understand how Digify has helped him and his team to improve their operations.

The Problem: Protecting startups' IP during due diligence

Nicolas and his team frequently share files containing sensitive information on the startups they invest in. They needed a centralized, secure platform that they could use to communicate with startups, third parties, and their own investors. 

As they frequently collaborate with third parties during the due diligence and investor engagement process, the confidentiality of the information shared was paramount. The team needed to have peace of mind that they could uphold their commitment to safeguarding their clients’ interests.

The Solution: A secure data room with a fast and simple user interface

A data room is a secure online platform for storing and sharing sensitive documents, crucial for ventures during due diligence. It centralizes and protects confidential information, allowing controlled access to authorized parties. This setup was vital for 28 Ventures to efficiently share key details with stakeholders while maintaining the confidentiality of their startups’ intellectual property.

What set Digify apart from its competitors was its simplicity and user-friendliness. Nicolas stressed the importance of his team having an easy and straightforward experience when setting up data rooms and sharing documents.

Within the first day of their Digify trial, it became evident that the platform would meet their needs. This ease of use was a game-changer, leading them to upgrade immediately.

"I didn’t want my team members to be spending a whole lot of time understanding how a platform works. I just want them to be able to get onto it and understand it and just launch the work. So the ease of use was the main motivation for us to move forward with Digify."

✔️ Secure distribution of startup details

When sharing startup due diligence information with third parties, 28 Ventures implemented Digify’s dynamic watermarks on their files. This security measure uniquely marks each document with the viewer’s email and additional identifying details to safeguard against unauthorized information distribution.

They also implemented a clickthrough ‘Terms of Access’ in their Digify data rooms, a step where each viewer must agree to specific legal terms to keep the information confidential before accessing the information. This allowed them to honor their obligation to protect their startups’ intellectual property during due diligence and investment processes. With Digify, they could maintain the highest level of confidentiality for their pre-IPO companies.

✔️ Efficient and streamlined data room management

Digify’s easy-to-use interface made setting up data rooms and sharing documents a breeze. This efficiency helped save time and resources, enabling the team to focus on more strategic aspects of their investment activities. Digify’s clean and simple UI made it the preferred choice, setting it apart from the competition.

✔️ Actionable insights on investor interest

Digify provided valuable analytics and insights into investor activity, helping them identify potential investors who were genuinely interested. Nicolas and his team were able to learn while files had been viewed, by whom, and for how long. In turn, they could craft tailored follow-ups with their investors. This data-driven approach empowered them to engage with interested investors more effectively.

"The Digify platform helps me understand how long the investor views documents. Having that knowledge allows me to know which ones to spend more time with, giving them more information on the deal and the extensiveness of the information we give them about the companies."

The Result

Digify has proven to be a transformative tool for 28 Ventures. It has not only addressed their key challenges related to secure data sharing but has also streamlined their workflows, upheld the trust of the startups they invest in, and improved their ability to identify and engage with interested investors.

“Once we saw how easy it was, Digify became the obvious choice. It’s also nice that the company is consistently growing and pushing out new features that users want. I’m very likely to recommend Digify to my friends and investors.”
Nicolas Lin
General Partner, 28 Ventures

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