What is the DDQ feature?
The DDQ feature helps automate the completion of blank due diligence questionnaires (DDQs) using Generative AI.
It extracts questions from a blank DDQ and surfaces relevant verbatim answers from a completed DDQ. The system also provides AI-generated answers when verbatim matches aren't available.
How do I use the DDQ feature?
Go to the Deals page and click on the blue + Create New Deal button in the top right corner of your screen
Enter a unique name for your Deal. Optionally, add a Deal Code, Description, or Ticker to provide additional context for your team
Select "DDQ" for the Deal Type
Choose the Deal's privacy settings: Firm-Wide or Private
Click Submit to create your Deal. This will automatically bring you to the Files page of your new Deal, where you can upload your documents.
Can I upload both blank and completed DDQs?
Yes. When using the DDQ tool, you can upload both a blank DDQ template and one or more completed DDQs as supporting source material.
What file types can I use for blank and completed DDQs?
Currently, the DDQ tool supports '.docx' and '.pdf' files for both blank and completed DDQs.
What happens after I upload a blank DDQ?
After uploading a blank DDQ, the platform automatically parses it to identify and extract all the individual questions.
Can the system understand nested questions or sections in the DDQ?
Yes. The platform supports hierarchical DDQs, including multi-level questions (e.g., Section 1 > Question 1.1 > Sub-question a).
These are displayed in a structured format.
Questions that have very niche formatting may not be pulled appropriately. For instance questions that are simply rows in tables will not be pulled as a blank question.
How does the DDQ tool match questions with answers?
The system uses semantic similarity and context-based retrieval to match extracted questions from the blank DDQ with relevant verbatim answers from the uploaded completed DDQs.
Can I review answers?
Yes. You have the ability to view various DDQ answers and select the response that is most accurate.
How accurate are the answer matches?
All answers are graded by the LLM.
Any answer that has the highest grade (Excellent) will be automatically chosen. If no Excellent match is found, the system will populate answers graded as Good or Fair, but not Poor.
Can I upload more than one completed DDQ?
Yes. You can upload multiple completed DDQs. In fact, the more completed DDQs you provide the better answers the model will be able to pull and generate.
What types of source DDQs should I load?
You can load any document that is in Q&A format. If you load documents not in Q&A format (like a PPM), the model's answer retrieving capabilities will be significantly reduced and may not provide accurate matches.
Can I export a filled-in version of the DDQ?
Yes. After reviewing the matches, you can export the completed questions and answers as a word document.
Can I use DDQ for secondaries or co-investments?
Yes. The tool is agnostic to investment type.
Whether you're preparing DDQs for a primary fund investment, co-investment, or secondary transaction, the tool can help.
Can I use a custom DDQ template?
Yes. You can upload any custom DDQ template, including ILPA, AIMA, or proprietary LP formats.
The system will extract questions regardless of formatting standards
How are answers ranked or prioritized?
When there are multiple potential answers, the system will:
Surface the most contextually relevant match
Give you the option to view and select from alternates
I can't find the DDQ feature where you said it would be?
This feature is in beta, if you do not have access and are interested in using this feature, please reach out to your company's ToltIQ point of contact.