The Technical Due Diligence Checklist Investors Rarely Ask For

Code quality is a lagging indicator. Look at deployment frequency, ownership maps and the on-call calendar.

A codebase tells you where a company has been. Its delivery metrics tell you where it can go.

Ask for the last 90 days of deploys, incidents and rollbacks. Ask who is on call and what wakes them.

For AI claims, ask to see the evaluation set and the cost per successful task. Both are usually missing.

The gap between the demo and the evaluation harness is the real risk you are underwriting.