One of the primary activities of Pando DAO is assisting Pando Africa Fund with input into the fund’s investing decisions and supporting the portfolio companies. This directly benefits the DAO because the carry from the Pando Africa Fund and future funds will be donated to the DAO’s treasury. We will reward community members for participating in this process as well as for supporting portfolio founders.

This brainstorming page will eventually become a proposal that we will repeat every season for the lifetime of the fund.

Investment process

  1. Founder applies directly to Pando Africa Fund or is referred by a Pando DAO member
  2. Founder submits their application for Funding on Pariti
  3. The application gets screened then reviewed by Pariti Review Team
  4. The review goes through the Pariti scoring engine to determine if they fit the Investor Ready criteria.
  5. Every 2 months, Pando Africa Fund’s team will select ~7-8 companies to go on to the next stage and start a 1-week diligence process with the community.
  6. A community moderator takes responsibility for coordinating diligence on each company. A channel for diligence on this company is created in Discord.
  7. The community moderator schedules an interview call for the community & the company founders. This is a moderated interview and anyone in the community can join. Questions will be collected from the community ahead of time as well as live. Interviews will whenever possible be scheduled at the same time every week & recorded for the DAO.
  8. After the interview, the community starts a discussion in the deal-specific Discord channel. Diligence questions are collected and answered either by the community or via support from the Pariti marketplace.
  9. Over 1 week, Due diligence is conducted and the community discusses on a thread the company.
  10. At the end of 1 week, a memo is written by the community moderator that includes an overview of the company, the community take, and due diligence output. The memo will be shared in Discord (& the Pariti DAO Notion)
  11. The memo is passed to the Fund’s IC/Management team who will formally decide whether to make an offer to invest and propose deal terms. We will have some standardized terms using a SAFE with flexibility on valuation.
  12. Once terms are agreed upon, information will be sent to AngelList for the transaction to be completed.
  13. At the end of each season, Pando members will be able to vote on 8 members who made outstanding diligence contributions over the course of the season to receive an “Outstanding DD” award.

Community Incentives

In Season 2, we have a pool of 1.6M $PANDO to reward the community for helping with diligence and sourcing. The following table lists activities that will earn rewards. This spreadsheet has more details

| | $PANDO/ Member | Participants / Company | Est Num / Season | Total $PANDO (per season) | | --- | --- | --- | --- | --- | | Referrals that pass Pariti & initial screening | 10,000 | 1 | 6 | 60,000 | | Referral bonus if fund invests | 100,000 | 1 | 0.65 | 65,000 | | Moderating the process / Hosting founder call | 10,000 | 1 | 21 | 70,000 | | DD Summary Memo | 10,000 | 1 | 21 | 70,000 | | Join Founder Call | 2,000 | 6 | 21 | 252,000 | | Discussion & DD Participation | 1,000 | 12 | 21 | 252,000 | | Excellent DD Award | 10,000 | 1 | 7 | 70,000 |