---
title: "What Is Due Diligence Request List?"
term: "Due Diligence Request List"
description: "A due diligence request list is the formal checklist investors or acquirers send to a company listing documents and answers required to complete their review before closing."
date: 2026-07-25T00:00:00.000Z
updated: 2026-07-25T00:00:00.000Z
topics: ["venture-capital"]
source: https://venturecapitaltracker.com/glossary/due-diligence-request-list
---

# What Is Due Diligence Request List?

> A due diligence request list is the formal checklist investors or acquirers send to a company listing documents and answers required to complete their review before closing.

**Due diligence request list** is the investor's or buyer's master checklist of documents, data, and interview requests needed to finish [due diligence](/glossary/due-diligence) and close the deal.

## How it works

After term sheet, counsel for the lead investor sends a list—often 50 to 200 line items grouped by category: corporate, capitalization, material contracts, IP, employment, litigation, tax, privacy, and insurance.

Each item references a data room folder or asks a direct question ("List all related-party transactions in the last 24 months"). The company assigns owners internally, uploads files, and tracks status. Follow-up questions spawn **supplemental lists** as reviewers dig in.

Venture lists are lighter than M&A lists but still catch cap table mistakes, missing board consents, and customer concentration. Acquirers add QoE (quality of earnings) and integration items.

Example items: certificate of incorporation and amendments, option grant ledger, standard form customer agreement, SOC 2 report, founder employment agreements, list of patents and applications.

## Why it matters

- **Founders:** Treat the list as a project plan with deadlines. Assign one DRI (directly responsible individual) per section. Missing one IP assignment can block closing for a week.
- **Investors:** The list standardizes what your lawyers need. Incomplete answers are a signal—either disorganized ops or hidden issues.
- **Counsel:** Lists evolve by stage: seed rounds skip SOC 2; Series C may require detailed revenue cohort exports.

## Common mistake

Uploading raw files without context. Investors want index sheets, changelogs, and plain-English notes ("Customer X contract renews March 2027; 12% of ARR"). Unlabeled PDF dumps slow review and invite repeat asks.

## Related ideas

- [Due Diligence](/glossary/due-diligence) — the overall investigation process
- Data room — where list items live
- Disclosure schedules — exceptions listed in deal documents
- [Escrow](/glossary/escrow) — funded when list reveals liabilities

## FAQ

### What is Due Diligence Request List in simple terms?

A numbered list from the investor's lawyers—'send us your cap table, all customer contracts over $50k, IP assignments, last three years of financials,' and so on.

### Why does Due Diligence Request List matter?

It defines the work between term sheet and wire. Slow or incomplete responses delay closing and signal operational weakness. Investors use gaps in the list to renegotiate.


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Source: https://venturecapitaltracker.com/glossary/due-diligence-request-list