SUMMARY
An Indian Venture Capital (VC) Fund was looking to raise funds, which required sharing confidential data with potential investors. The client wanted a secure and compliant solution to facilitate this flow of information. The venture capital fund chose FirmsData as its virtual data room (VDR) for communication due to a variety of reasons, including ease of use, ability to control access, and compliance with Indian data laws. FirmsData continues to be a long-term partner in helping the client communicate internally and with investors & potential investors.
CLIENT REQUIREMENTS
A Venture Capital Fund with offices across India was required to share confidential information with investors, potential investors, and its internal team. As a result, the client was looking for a secure and compliant virtual data room to enable communications as per business needs.
CHALLENGES IN DATA SHARING & COMMUNICATION
- The VC Fund sought to overcome the following challenges in communication with the virtual data room:
- Since there were multiple employees, investors, and prospects involved, the client wanted to set limits and control data access for each user
- They wanted to capture user information for the actions performed in the data room
- The VC firm also wanted to apply dynamic watermarking for the users to prevent data misuse
- They were looking for browser viewing support for different file formats, including PDF, MS Office, JPEG, and MP4
- Data protection laws in India require the data to be shared only using servers based in India
BENEFITS OF FIRMSDATA VDR
The VC Fund chose FirmsData VDR as its communication platform for the following reasons:
- FirmsData allowed the client to limit user access and actions on the platform
- The VDR’s advanced reporting dashboard enabled them to keep track of user activity in real-time
- Plugin-free DRM (Digital Rights Management) allows users to download business file formats such as PDF and restrict use with the option to revoke access
- Custom watermarking helped prevent asset misuse
- Being ISO 2700I certified, the world’s best-known standard for information security management systems, FirmsData met all the security and regulatory requirements
- Hosted on state-of-the-art AWS Virtual Private Cloud (VPC) in India, our VDR met the data localization requirements under the Data Protection Law in India
RESULTS OF THE ENGAGEMENT
The Venture Capital Fund is leveraging FirmsData virtual data room for internal and investor communications.
Below are some results of the engagement:
- The VDR helps the client share extensive data with the various parties involved with ease
- Data confidentiality is maintained despite data being shared with external and internal parties
