The Silliness Of Recapping Seed Rounds
Feld Thoughts
JULY 14, 2015
So they recapitalize the company. When I made 40 seed investments between 1994 and 1996, I had a philosophy that I’d double down on a seed investment. The term sheet converts all the convertible debt into a post-money valuation of $100, essentially making the convertible debt worthless. It’s not pretty, but it happens.
70 
Let's personalize your content