Technical due diligence — Know what you're buying before you sign.
For venture funds, private equity firms and acquirers. We look under the bonnet of the technology you're about to invest in or buy (the code, the architecture, the team and the risks) and give you a clear, plain-English view your investment committee can act on.
- 20+ years building tech businesses
- Founded and exited a studio
- Plain-English reports
- Fixed fee
Sound familiar?
- You're about to invest in or buy a tech business, and nobody on the deal team can judge the technology.
- The founders' tech story sounds great, but you can't tell how much of it is real.
- The valuation depends on the product scaling, and you need to know it can.
- The pitch leans heavily on AI, and you want to know what's under the hood.
- You need a view your investment committee can understand, not a 60-page technical audit.
What we look at
Code and architecture
We review the codebase, architecture and infrastructure to see whether the product will support the growth in your model, or whether it'll need serious rework first. That covers scalability, technical debt, dependencies, hosting costs, and how much of it relies on things the company doesn't control.
Security and compliance
We check how the product handles data, access and security, and whether it meets the obligations that come with its customers: GDPR, sector rules and the security standards larger clients expect. Problems here rarely show up in a demo, and they're expensive once they're yours.
Team and process
Technology is only as good as the people who can change it. We look at the team's structure and skills, how work gets planned and shipped, and where knowledge sits with one or two people. Key-person risk is one of the most common findings, and one of the easiest to plan for once you know about it.
AI and product claims
Every deck mentions AI now. We check what's under the hood: what's proprietary, what's a wrapper around someone else's model, what it costs to run at scale, and whether the claims stand up. The same goes for any other technical claim the valuation leans on.
From first chat to working together
A scoping call
A short call on the deal, the company and what your investment committee needs to know. We agree the scope, timeline and fee up front.
The review
We get access to the code, the systems and the team, and work through them quickly and discreetly. We're happy to work under your NDA.
A clear report
A plain-English written report: what's solid, what's risky and what it would cost to fix, rated by severity so your committee can see what matters at a glance.
After the deal
We answer your committee's questions directly and, if you go ahead, set out a technical plan for the first 100 days. We can stay on as fractional CTO if the company needs one.
What independent diligence changes
Without the right help
- Finding out the product needs rebuilding after you've paid for it.
- Security or compliance problems that become your liability at completion.
- A valuation built on AI or tech claims that don't hold up.
- Key engineers leaving, and the knowledge going with them.
With Lode in your corner
- A clear view of the technology before you commit.
- Risks priced into the deal, not discovered after it.
- Negotiating points backed by evidence.
- A plan for the first 100 days, ready to go.
Technical due diligence: your questions answered
What is technical due diligence?
An independent review of the technology behind a company you're investing in or buying. We look at the code, architecture, security, team and product claims, and tell you what's solid, what's risky and what it would cost to fix. It sits alongside financial and legal due diligence, and answers a simple question: is the technology worth what you're paying for it?
Who do you do this for?
Venture capital funds, private equity firms and companies making acquisitions. We work for the investor or buyer, and the report is written for your deal team and investment committee, not for engineers.
How long does it take?
It depends on the size of the company and how deep you need us to go. We agree the timeline up front to fit your deal, and we're used to tight deadlines. A focused review of an early-stage startup is much quicker than a full review ahead of a buyout.
How is it priced?
A fixed fee based on the scope, agreed before we start. No day rates and no surprises, so you know the cost before you commit to the review.
Do the founders need to be involved?
Yes, a little. We'll need access to the code and systems, and some time with the technical team. We keep it focused and respectful, because how diligence is handled shapes the relationship you'll have with them after the deal. We've been through diligence as founders ourselves, so we know what it's like from the other side.
How do you handle confidentiality and conflicts?
We're happy to work under your NDA, and everything we see stays confidential. Because we also invest, we check for any conflict of interest before we start, and we'll tell you straight away if there is one.
Can you help after the deal?
Yes. Most of what we find is fixable, and we can help the company fix it, as a fractional CTO or by steering their team through the first 100 days. If you'd rather keep diligence separate from any post-deal work, that's fine too.
Tell us about the deal.
What the company does, the size and stage of the deal, and when you need an answer. That's all we need to get started. Everything you share stays confidential, and we usually reply within a couple of working days.
Or email hello@lode.venturesThanks, we've got your message.
We read every message ourselves and usually reply within a couple of working days.