David Teten

JANUARY 19, 2021

Yes, via conversion rights at a valuation cap. Yes, via conversion rights at a valuation cap. Seed-stage compatible: Like traditional equity VC investors, Flexible VCs accomodate early-stage investment risk within their portfolios better than a traditional RBI funder. Flexible VC: Compensation-based.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

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. million at a $15 million pre-money valuation. Morgan Stanley had proposed a higher valuation to let them in. VC, sales, biz dev, M&A or otherwise. million at a $15 million pre-money valuation.

Technical Review 301

Technical Review Term Sheet Due Diligence Venture Capital 301

David Teten

SEPTEMBER 23, 2017

In venture capital in particular, early-stage companies are often operating in frontier industries, where the rules are unpredictable and conventional analytic frameworks may be misleading. I previously posted a detailed presentation with sales technology tools useful for B2B sales. Pitchbot.vc 3) Originate investments.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

View from Seed

APRIL 30, 2015

In many instances, you raise an institutional round to either fulfill a product strategy or go-to-market strategy or you’re increasing sales and marketing hires, so you have better visibility into what needs to happen in the next six, 12, 18 months. NVV: Let’s talk about the seed stage specifically.

Term Sheet 120

Term Sheet Equity Startup Seed Stage 120

Berkonomics

APRIL 3, 2014

There are three classes of equity investors for early stage businesses that we have not yet considered. And even though angel groups syndicate their best deals within their respective associated networks, it is always best to apply to the angel groups nearest your physical location.

Equity 92

Equity Finance Liquidity Event Angel Groups 92

www.paulgraham.com

APRIL 28, 2010

Another concept we need to introduce now is valuation. I say "in theory" because in early stageinvesting, valuations are voodoo. As a company gets more established,its valuation gets closer to an actual market value. As a company gets more established,its valuation gets closer to an actual market value.

Technical Review 76

Technical Review Startup Software Review Angel Investor 76

www.paulgraham.com

APRIL 28, 2010

Youllprobably get either preferred stock, which means stock with extrarights like getting your money back first in a sale, or convertibledebt, which means (on paper) youre lending the company money, andthe debt converts to stock at the next sufficiently big fundinground. [ Dont feel like you have to join a syndicate, though.

Angel Investor 63

Angel Investor Syndicate Syndication Dilution 63

Tim Keane

APRIL 12, 2006

this stage when the company can justify a higher. valuation than the previous round. If the investors ideal size is smaller than your need, you ought to ask about syndication. If they don’t like to syndicate, or don’t have a track record of doing it, you will want to consider your options. How do you approach valuation?

Entrepreneur 60

Entrepreneur Valuation Sweat Equity Common Stock 60