Self-Funded Searcher Review and Company Governance

In considering an investment in a self-funded searcher looking for investment commitments, what type of searcher investigation do investors perform? (e.g. background check, education/professional review)
Additionally, what are some standard and not-so-standard governance checks and balances that investors consider a must when they are contemplating making an equity investment? (e.g. Salary increase hurdles)

Best,
Eli Patino