Remove Aggregator Remove Early Stage Remove Later Stage Remove Preferred Stock
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Convertible Debt – Conversion In A Sale Of The Company

Feld Thoughts

Usually we see 2-3x, but in later stage companies, this multiple can be even higher. In the case of an early-stage startup that hasn’t issued preferred stock yet, the debt converts into stock of the acquiring company (if it’s a stock deal) at a valuation subject to a cap.

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Investor Nomenclature and the Venture Spiral

K9 Ventures

In my view the terminology being used for early stage investors by the press and the media is not as clear as it should be. I’ve talked about this on several occasions when I’ve been at conference and on panels, but I figured it would make sense to do a post explaining my taxonomy of the early-stage investing world.