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The BSList - Busted Cap Table (No. 104)

This is going to be BIG.

It’s this part: “I’m getting inbound from investors…” Nearly all of the inbound VC interest happening out there is from non-partner investors (i.e. A check-writing partner reaches out to you. But back to the cap table. Here’s why VC’s don’t actually care about your prior cap table in most circumstances.

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Greenhouse CEO Daniel Chait on how AI is changing human resources and weaning his company off venture funding via private equity

Hunter Walker

HW: In 2021 you partnered with growth firm TPG to bring them on as your primary investor, which I assume gave your current venture capital partners a chance to at least partially exit the business. We ended up partnering with two different funds at TPG; the TPG Growth Fund and the RISE Fund. I will finish here.

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The Changing Structure of the VC Industry

Both Sides of the Table

Limited Partners or LPs (the people who invest into VC funds) have taken notice as 2014 is by all accounts the busiest year for LPs since the Great Recession began. It’s hard to work out the cap table with your peers when one of them has no real intent in fixing the problem.

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How Many Angels is the Right Amount for a Startup to Have?

Both Sides of the Table

All of my partners at Upfront do. If you have 8 well known, high quality angels with impeccable reputations then be as transparent as you like. We fund 10-12 companies per year at Upfront where I’m a partner. I actually think a strong lead with some well-placed and experienced angels is the right mix.

Cap Table 150
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Oh S**t, Your VC Just Quit Her Fund! What a Good CEO Should Do Next.

Hunter Walker

Across town a different CEO is having a breakfast with her Series A Board partner. You almost spit out your coffee when she lets you know that she’s leaving for a Tier 1 firm but that her partners John, John Jr or Robert will be great stewards of your startup until she has the pull at her new gig to lead your next round.

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How to Work with Lawyers at a Startup

Both Sides of the Table

I’ve met several people from Cooley Godward who have stellar reputations in this category. Focus on the partner you would be working with. One issue he talked about was working with partners. I also like to work with partners. But I also know it’s not realistic for the partners to do all of the work.

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How to Leverage Micro VC Funds to Build an Angel Portfolio

This is going to be BIG.

The partner at the fund, the VC, gets to do the fun part—the meeting with founders, vetting deals, negotiating, helping, etc. Access to the partner. If you’ve put money into a fund, I think it’s reasonable to expect that partner to check out the deal flow that you find on your own, and let you know what they think.

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