Remove Conversion Remove Cost Remove Institutional Investors Remove Seed Stage
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The Changing Structure of the VC Industry

Both Sides of the Table

The rise of “micro VCs” or seed-stage funds. Lower costs to start a business (95% reduction), many more companies created & funded by angels / seed. Just 3 years ago there was talk of institutional investors “not being able to write small enough checks.”

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Thoughts on Convertible Notes

K9 Ventures

There has been a lot of noise in the Valley lately about how most seed stage deals are now being done as convertible notes. The typical fix for this problem is to put in a cap in the note for the pre-money price for conversion. What percent of the company should the note holder get on conversion?