Convertible Note Seed Financings: Founders Beware!
Scott Edward Walker
MAY 15, 2012
In Fenwick & West’s 2011 Seed Financing Survey (the “Fenwick Survey”), the percentage of convertible note seed financings that utilized this approach was 17% in 2010 and 9% in 2011. In the Fenwick Survey, the median term was 18 months in both 2010 and 2011. 2) Conversion Right (Investor-Friendly). 1) Accredited Investors.
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