Investor documents during fund raising

Investment due diligence is pretty standard across VCs. There will be a checklist that they will provide that incorporates all the materials you will need to give them. In broad terms, the types of things they ask for are:

• Financial Position: All the standard stuff like P&L, etc
• Management/Critical Staff Resumes: Anyone who is critical to the operation of the company
• Intellectual Property: All issued and filed patents along with trademarks and copyrights.
• Corporate Filings: Status of incorporation, UCC filings, etc.
• Assets Owned and Outside Liabilities: All assets and any liabilities
• Pending or anticipated law suits
• Development Plans: Usually 2-3 year plans on how you will use the money.
• Customers and Partnerships: Who they are and what the deal is.
• Agreements: Any legal agreements or contacts the company has signed, including NDAs.

When you have a term sheet signed and are formally in due diligence is when you reveal this information. Most VC's will ask the standard questions and checklist items. I don't think I have ever heard of an unreasonable request since if they are putting money in, then get access to everything anyway. Your legal counsel will be able to guide you in what may or may not be reasonable if it comes to that.