Due diligence questionnaire tasks | FundCentre Fundraising

Applies to: Fund managers (GPs)
 

This article guides you through processing a Due Diligence Questionnaire (DDQ) request from an LP and responding to questions.

Prerequisites:

• Contact your CSM to enable the DDQ access for GPs. If the GP Portal has DDQ access, then you and your team can draft and edit answers. 

• You need GP Admin access to set up DDQ and GP user access to claim and edit DDQs.
• Have your reference documents including fund materials, strategy documents, and governance documents as you will upload these so that AI can use them.
• Only one GP user can edit a DDQ at a time. If you need to hand off work, unclaim the DDQ.

  How to upload and assign reference documents

1. From the Document menu, click Reference Documents.
2. Click Add Reference Document.
3. Upload documents using one the following methods:
   • Drag and drop them onto the screen. You can drag and drop a maximum of 10 files at a time.
   • Click the link to select documents to upload, navigate to the documents, and click Open.

4. For each file, enter or update details as needed:

   • Select Document Type as Due Diligence.  
   • Enter the Effective Date.
   • Select a Campaign.
   • Select a Fund.

   Note: To apply the same values to all files, enter details in the top row.

5. (Optional.) To change the name of the document, click the Pencil icon and enter the new name.
6. Click Upload.
7. Multi-select the documents you uploaded and click Generate AI Insights.

You must wait for the green checkmarks to appear in the AI Insights column. This shows that the documents are ready for AI to use.  

  How to set up DDQ AI workflow

1. From the AI menu, click Workflow.
2. In the Answerer field, select an Assignee Type from the below options.
   • Contact: Select a person
   • Role: GP Admin (currently the only option.)
   • Team: Select or create a team.
3. In the Reviewer field, select an Assignee Type from the below options.
   • Contact: Select a person
   • Role: GP Admin (currently the only option.)

   • Team: Select or create a team.

     Note: Reviewer can be the same as Answerer or a different person/team as long as they have GP Admin access.

4. Review the default Instructions for AI Processing. Edit it to define terms AI should recognize. For example, Firm is your company name and Investment Manager is your fund brand name.
5. Click Save.

  How to add a DDQ

1. From the AI menu, click DDQs.
2. Click +Add DDQ.

3. To download the template, click the Download icon under DDQ Template section.

   Note: You can download the blank template or the ILPA-inspired template. However, you must not add any additional columns to the template.

4. Fill the questions column and upload the template by clicking the DDQ section or drag and drop the template.
5. Edit the Name of the uploaded file if required.
6. Select Due Date.
7. Select Investor.
8. Select Fund.
9. (Optional.) Provide a description.
10. Click Upload.