Fund spent a lot of time looking at our materials, only to tell us that they were in the process of establishing a fund at some later time to invest in companies in our space. This seemed like a really indirect way of telling us know, instead of passing and giving us concrete feedback. Diligence team did not seem engaged during our pitches, did not ask a lot of questions, and did not take the time to dive deep into the material we presented despite requesting a lot. We also heard from another founder who received funding from this entity that terms were quite founder-unfriendly, as can be the case for traditional biotech funds and that diligence dragged on for months for a seed round before receiving funding.
