http://getventure.typepad.com/markpeterdavis/2007/11/exploratory-mee.html

In my post, Types Of Due Diligence Meetings, I mentioned that there will be Exploratory Meetings where you are meeting with the same partner for the second, third or fourth time. In exploratory meetings your objective is very different than what it was in your first meeting with a partner at a fund. In your first meeting the objective is to get a VC interested enough to have you in for a second meeting. As a result, in the first meeting sharing too much information can be a mistake, if it distracts a VC from the big picture. This isn't the case in an exploratory meeting...