Dilution Due Diligence Sales Syndication 
Both Sides of the Table
FEBRUARY 25, 2010
We were trying to optimize around a few criteria: price, size of round, number of syndicate partners and, of course, terms. But we weren’t optimizing for dilution – we were building a $1 billion+ company and we wanted the runway to succeed. We moved into the legal process and final due diligence in January and February of 2000.
David Teten
JANUARY 19, 2021
Coinvestors: Flexible VC terms have not been standardized, which may make the investment harder to syndicate. That said, Jonathan Bragdon, General Partner, Capacity Capital , points out that Flexible VC terms “twin” well with equity: providing less dilution while still providing investor assistance. . Typical business model.
www.paulgraham.com
APRIL 28, 2010
Some angel investors join together in syndicates. Whatkind of anti-dilution protection do they want? For example, VCs generally write it into the deal thatin any sale, they get their investment back first. Startups valuations aresupposed to rise over time. Any city wherepeople start startups will have one or more of them.
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