[mbesto]

Due diligence guy here.

VCs don't necessarily do rigorous due diligence, especially at the early stages (where ICO's typically play). That being said, VC's typically do some soft diligence checks that investors of ICO wouldn't normally do, for example: personal check backgrounds within their own network, personnel reference checks, review potentially proprietary/confidential information, etc. So it's not necessarily that they have monetary resources to expend during the transaction process, but rather informal/trusted resources at their expense.