NOETHERS / FOUNDER GUIDE
The first 100 days.
A sequence for the questions following a liquidity event, not a clock for putting money to work.
For discussion with your own qualified professionals. Not personal investment, legal or tax advice.
01 / WHAT TO BRING
First: confirm what arrived
Start with the transaction record rather than the headline value.
- Reconcile settlement statements, escrow, deferred proceeds, retained shares and restrictions with transaction counsel.
- Ask qualified advisers to identify reporting, payment and documentation deadlines in each relevant jurisdiction.
- Confirm authorised signatories and account access. Independently verify any changed payment instructions.
02 / WHO / WHAT TO ASK
Then: protect room to decide
Temporary holding arrangements deserve explicit questions, not automatic assumptions.
- Map known obligations, commitments and near-term personal or business needs before discussing long-term capital.
- Ask banks about custody versus deposit exposure, counterparty risk, concentration, currency, access and applicable protections; do not assume all cash is held the same way.
- Record who can move funds and what controls, approvals and fees apply across institutions.
03 / WHAT TO DECIDE
Next: agree the decision process
A policy begins with purpose and constraints, not product selection.
- Discuss what the capital is for, what must stay available and what is still tied to the company or a next venture.
- Invite family members into the appropriate decisions; agree what is shared, who participates and how disagreements are handled.
- Ask your investment professional to document risk capacity, concentration, liquidity needs, governance and a review date before considering implementation.
- Have tax, legal and investment professionals identify dependencies rather than letting one conversation settle another profession's questions.
04 / WHAT CAN WAIT / TAKE FORWARD
Decisions to defer
Waiting can be a deliberate decision when facts are still changing.
- An irreversible commitment without a documented purpose, exit terms or understanding of costs.
- A permanent allocation based solely on the first bank proposal or a single market view.
- A family transfer or cross-border step before the qualified local advisers have reviewed it.
- A consolidated plan that ignores retained equity, earn-outs or future venture commitments.