I have never in my life seen a VC look at source code. Even the more technical ones that might be interested in the technical details limit themselves to the overall architecture (and even that mostly out of curiosity). Is anyone else's experience different?
I had potential acquirers hire consultants (on their dime) to audit my code and commit logs. Their questions were brief yet very specific. I felt that this would be standard practice for any good VC / acquiring business.
Yes, it's different for me. I do DD many times per year and I always look at the code if the company is claiming IP rights. And depending on what they're doing this can be a half hour browsing session or a deep dive lasting a couple of days.
