Feld Thoughts

FEBRUARY 28, 2023

KG companies have decisive tax disadvantages for startups and are, therefore, rarely used in this area. In addition, there are the managing directors as executive bodies. In the VC sector, it is common to introduce a third body in addition to the shareholders’ meeting and the management. German Startups Association).

Germany 165

Germany Liquidation Preference Option Pool Advisory Board 165

Both Sides of the Table

SEPTEMBER 2, 2009

The VCs basically have liquidity in management fees along the way, in the sense they get paid decently along the way. But the day after you’ll wake up and see yourself more as a manager than an owner. I took money with a 3x participating preferred liquidation preference with 8% compounded interest annually.

Founder 329

Founder Liquidation Preference Term Sheet Participating Preferred 329

Both Sides of the Table

JULY 25, 2011

When I first started as a startup CEO in 1999 there were no guides on raising venture capital. But know that every term in your term sheet is there as a result of some dispute of the past between shareholders or between shareholders & management. Or what “participating preferred&# stock is and how it can screw you.

Liquidation Preference 304

Liquidation Preference Term Sheet Cap Table Participating Preferred 304