2. the deal become active-often thi

2. the deal become active-often this required the partner to write a memo from one to five pages in length introducing the company to the firm and profiling the company's market ,team ,and technology. whether formally or informally ,the sponsor or the deal team would solicit questions and feedback from the rest of the firm and work to resolve them. one firm framed the question as "What do i need to believe to think this will be a success?" the process here could be considered as a bid in an auction --what questions must i answer to move this deal along? Active deals might be reviewed on a weekly basis at partner meetings. at this point , the company became exposed to a broader group within the firm. Most firms had the company present to a small group ; a few engaged the entire firm in an early company presentation . this might be immediately followed by a due diligence dialog, instructing the sponsor and/or the company to investigate certain issues. At this point, the sponsor is engaged in a dual-selling role-- not only trying to sell the company to the firm as an investment but also selling the value of the firm to the company as an investor.