www.founderinstitute.com

MARCH 2, 2010

He has been actively involved in merger, acquisition and disposition transactions with a combined value of over $1 billion, and financing/investment transactions and securities offerings worth over $600 million. Chris Dixon posted about an ideal term sheet for first round funding, which started an blogosphere discussion about terms.

Term Sheet 40

Term Sheet Liquidation Preference Vesting San Diego 40

www.quora.com

JANUARY 16, 2011

Find Questions, Topics and People Add Question Add Question Venture Capital Venture Capital Term Sheets Startups Term Sheets What are examples of good startup term sheets? Ycombinator open source term sheet is a good start for Seed deals. Brad Feld does the best blog term sheet series.

Term Sheet 41

Term Sheet Startup Angel Investor Wiki 41

Both Sides of the Table

MARCH 17, 2012

The very first time I ever negotiated a term sheet (and then legal docs for closing the round) I found the experience very frustrating. He marks up the term sheet. Seems like the term sheet will be done in a day or so. And it obviously doesn’t just apply to a VC financing. Nor did their lawyer.

Term Sheet 301

Term Sheet Ireland Cofounder Finance 301

Both Sides of the Table

MARCH 3, 2012

Since I didn’t originally source the deal I let my co-investor set the terms and negotiate the deal with my consent. But it was early 2009 and not many companies were getting new financings at all so I thought they should take the deal. But for me I care too much about my long-term reputation. He has signed a term sheet.

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Term Sheet Silicon Valley Reputation Partner 356

YoungUpstarts

FEBRUARY 6, 2017

As an entrepreneur, your goal when raising financing is to get several term sheets — the documents describing the terms and conditions of financing. One of the worst positions you can be in during a financing is to have investors interested, but be too far short of your goal.

Venture Capital 100

Venture Capital Term Sheet Technical Review Due Diligence 100

Both Sides of the Table

MAY 9, 2018

You race back to the office to tell everybody how well it went and you wait for the follow-up call to have a partners’ meeting or talk about term sheets or at least dip into due diligence. I always tell people that fund raising is a sales process. The assistant tried to end the meeting twice but was shoooshed away.

Software Review 381

Software Review Churn Rate Due Diligence New York 381

Both Sides of the Table

JULY 29, 2010

We received so much positive feedback from our This Week in Venture Capital show walking through valuation calculations & term sheets that we decided to do a Q&A show this week to address topics that entrepreneurs want to learn about. People also buy for defensive reasons or ego but that’s a different story.

Venture Capital 282

Venture Capital Term Sheet Valuation Stock Options 282

Berkonomics

MAY 15, 2014

A good example was during the negotiation of a term sheet. These usually involve a handful of angel investors, and a few entrepreneurs, who all want to build the very best term sheet for their exciting nascent enterprise. Very often, the initial opinions of the people around the table are radically different.

Term Sheet 91

Term Sheet Angel Groups Angel Investor Deal Structure 91

www.seriesseed.com

MARCH 2, 2010

SeriesSeed.com Series Seed Financing Documents Blog Home Documents Blog Archives Subscribe 09/02/2010 Version 2.0   That’s because there are not that many issues to negotiate in a simple equity financing. 2) Redline - Series Seed Term Sheet (1 v. Series Seed Term Sheet (v 2.0) Then you win.”

Finance 58

Finance Term Sheet Equity Aggregator 58

Both Sides of the Table

OCTOBER 19, 2014

World’s best in telling stories to young people by building compelling characters that are loved through the generations and passed down from parent to child like a treasure. By September 26th we had submitted a term sheet which was signed on October 4th and financing was closed in less than 30 days.

Technical Review 373

Technical Review North America Los Angeles Cofounder 373

Startup Company Lawyer

MARCH 14, 2010

After the recent announcement of the Series Seed Financing documents by Marc Andreesen, Brad Feld points out that there are now four sets of “open source&# equity seed financing documents: TechStars Model Seed Funding Documents (by Cooley). Y Combinator Series AA Equity Financing Documents (by WSGR). under $500K).

Finance 70

Finance Software Review Term Sheet Liquidation Preference 70

Both Sides of the Table

APRIL 23, 2017

It’s why raising a round of capital often feels like a hollow victory because it almost feels like a temporary reprieve from the Grim Reaper and in a way every new round just sets the bar higher to clear for the next round of financing or the hope of reaching profitability. People who do that are the ones who struggle. Be in Person.

Burn Rate 238

Burn Rate Term Sheet CTO Hire Fractional CTO 238

Version One Ventures

MARCH 3, 2021

Too often, we see the opportunity to capture this mindshare lost because the focus is too much on the financing itself. Make it simple for people to contact you and take the next step, whatever that might be: “Join our waitlist,” “Sign up for a demo,” “Download our whitepaper,” “We’re hiring – work with our team.”. StrictlyVC.

Social Media 147

Social Media Technical Review Term Sheet PR 147

www.seriesseed.com

DECEMBER 9, 2012

Series Seed Financing Documents Blog. Series Seed Financing Documents. Series Seed Term Sheet (v 2.0). Series Seed Term Sheet. Listed below are links to weblogs that reference Series Seed Financing Documents : 1 Reblog. SeriesSeed.com. Blog Archives.   Series Seed COI (v 2.0).

Finance 40

Finance Term Sheet Vesting LLC 40

Both Sides of the Table

SEPTEMBER 5, 2012

” I applaud all efforts by people to take on this issue and especially be Adeo who – let’s be honest – was really the first champion of trying to make the VC world more transparent by launching TheFunded, which didn’t exactly endear him to VCs initially. Let me explain it more clearly in equity terms.

Ratchet 354

Ratchet Liquidation Preference Equity Stock 354

Steve Blank

APRIL 1, 2020

With millions of people out of work in the next quarter, it’s obvious that discretionary purchases like furniture, fashion, lifestyle will take a hit. Some VC’s are walking away from signed term sheets. Do you source/build things there while laying off people here? Others are cutting their valuations.

South Korea 333

South Korea Salary Business Model China 333

Both Sides of the Table

APRIL 13, 2011

There was a lot of consumer internet activity again…resurgence of things, but it was still mysterious, venture capital was still kind of closed, 1st time entrepreneurs had a lot of questions that were unanswered, and there was still some sort of hand waiving around all the financing stuff and so we took it on….”. Is that when it became big?

Technical Review 288

Technical Review Venture Capital Silicon Valley Software Review 288

Both Sides of the Table

SEPTEMBER 8, 2012

I’m not sure why people don’t see that. But Paul Graham really did have a point in his “ high resolution fundraising ” post – that there is a problem – particularly in angel financing – with herding cats. Since 2009 I have been counseling people to offer discounts to the first angel investors.

Pre-Money Valuation 294

Pre-Money Valuation Finance Liquidation Preference Warrant 294

View from Seed

FEBRUARY 12, 2020

If you have a term sheet in hand or know for a fact that you are about to get one, you can be pretty transparent and say that you are late in the process and are looking to make a decision by X date. If you don’t have a term sheet, my general approach is to communicate that you are early in the process.

Term Sheet 364

Term Sheet Burn Rate Founder Partner 364

ReadWriteStart

SEPTEMBER 2, 2011

While certainly not every business needs to raise venture financing, it is the path for many high-growth technology startups. So in your first few rounds, try to raise money from as few people as possible and make sure they really will help. Tip 4: Really Understand Key Terms. Tip 5: Remember Time Kills Deals.

Cap Table 125

Cap Table Term Sheet Liquidation Preference Technical Review 125

Startup Professionals Musings

MARCH 20, 2017

In reality, a financing negotiation is not a single-round winner-take-all game, since a “good” deal requires that both parties walk away satisfied -- with a win-win relationship. On the other hand, when negotiating a financing for your company, you should never present your term sheet first. Marty Zwilling.

Search 146

Search Term Sheet Bootstrapping Finance 146

Both Sides of the Table

OCTOBER 19, 2009

My blog linked to Brad Feld’s blog because I was so grateful for his series on term sheets and he was one of the biggest reasons that as a VC I felt compelled to blog. There was no viral social networking products back then like Twitter where people could easily discover your content. People said, “invest more.”

Venture Capital 274

Venture Capital Term Sheet San Diego Viral 274

Feld Thoughts

MARCH 2, 2010

Y Combinator Series AA Equity Financing Documents (by WSGR). Founders Institute Plain Preferred Term Sheet (by WSGR). Series Seed Financing Documents (by Fenwick & West). Many smart and capable people have either worked on these various docs on signed on as supporters.

Finance 133

Finance Term Sheet Angel Investor Early Stage 133

Feld Thoughts

MARCH 16, 2021

Like many people, I’m currently deep in SPACland. When Jason and I wrote the first edition Venture Deals in 2011, we built off a series of 30+ blog posts we wrote in 2005 about Term Sheets. It’s fun to explore them for historical reference since Jack Bauer plays a major part in the posts.

Term Sheet 151

Term Sheet Finance Web Entrepreneur 151

Both Sides of the Table

MAY 13, 2018

If an investor isn’t engaging then they’re not suddenly going to get a term sheet. People who believe the former believe that you should see the market demand before too many people know you’re “in market.” The first meeting is usually with 1–2 people within the VC firm. people just get busy. Sometimes?—?best

Term Sheet 332

Term Sheet Due Diligence Campaign Sales 332

Up and Running

JANUARY 26, 2012

Raising finance is a time consuming process and can also be quite stressful (particularly as time progresses). You then need to submit a business plan (or executive summary) to them so they can assess the opportunity with more context (ideally you’ll have a warm introduction to these people). Image via CrunchBase.

Term Sheet 94

Term Sheet Exit Strategy Software Review Early Stage 94

Both Sides of the Table

JANUARY 11, 2011

Associates are good an important people – I discuss this in the video. If they say yes you get a term sheet and once this is signed it is usually 3-6 weeks until your legal docs get signed and you’re funded. Critically at the partners meeting you should have 2-3 people. Bio of top 3 people in the company.

Non-disclosure Agreement 340

Non-disclosure Agreement NDA Cofounder Term Sheet 340

Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago.

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

This is going to be BIG.

SEPTEMBER 30, 2012

This is a company that, according to the article, got term sheets from half of the VCs that expressed interest in the company. David's firm most recently participated in the $77 million second round financing of SoFi, a one year old startup focusing on student loans. Not a bad close rate, I'd say--and a pretty great pay day.

Venture Capital 114

Venture Capital Marketing Term Sheet Software Review 114

Feld Thoughts

DECEMBER 29, 2011

I’ve always had mixed feelings about the importance of a company announcing a financing in the absence of any other activity. When you do a financing, you file something called a Form D with the SEC. For some reason, some companies want to keep their financings quiet. ” Ok, but so what? ” Next.

Finance 133

Finance SEC Term Sheet Acquisition 133

Both Sides of the Table

MAY 21, 2018

He was in a later-stage financing round and was talking with many investors. I told him, “I know we don’t yet have a term sheet so you feel you need to listen to everybody’s request. But imagine you were expecting two term sheets imminently. How would you act then? But confidence is CRITICAL in fund raising.

Term Sheet 217

Term Sheet Later Stage Demand Email 217

Gust

OCTOBER 12, 2011

Last week , we took the plunge and began dissecting an example term sheet for a convertible debt financing round piece by piece. I’ll continue with more specific terms and wrap up next week with some thoughts about recent changes and trends for the future.

Finance 107

Finance Term Sheet Pre-Money Valuation Early Stage 107

Reid Hoffman

JULY 27, 2021

You’re going to school with somewhere between 200 to 800 people who are going to be future global business leaders; these relationships can be enormously valuable. Network strength is one of the reasons that people who want to build great software businesses have, and will continue to move to Silicon Valley. In other words, execution.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Reid Hoffman

JULY 27, 2021

You’re going to school with somewhere between 200 to 800 people who are going to be future global business leaders; these relationships can be enormously valuable. Network strength is one of the reasons that people who want to build great software businesses have, and will continue to move to Silicon Valley. In other words, execution.

Silicon Valley 69

Silicon Valley Venture Capital Balance Sheet Cofounder 69

Scott Edward Walker

AUGUST 8, 2021

Whether you’re doing a financing or selling your startup, consider the following rules (in no particular order): Golden Rules. 3) Your strongest leverage in any financing/sale is prior to the execution of an exclusivity letter — i.e., an LOI/term sheet which includes a “no shop” provision.

Investment Bankers 83

Investment Bankers Term Sheet Finance Sales 83

Business Plan Blog

NOVEMBER 13, 2013

The first milestone in a new startup’s financing is called ‘Seed Capital’ which refers to the initial investment raised by the founders from their friends and family, or commonly referred to as FFF (Friends, Family and Founders), who mostly use their personal assets. *The Convertible Debt Financing. Raising Seed Capital.

Finance 93

Finance Accredited Investor Angel Investor Seed Capital 93

reidhoffman.org

NOVEMBER 12, 2013

You may happen to emphasize the right points that pique an investor’s interest, but you shouldn’t leave your financing up to chance. Second, understand the broader financing climate. The graphic we chose emphasizes that it is a network of people. Because you can find and contact people you need. Why is it valuable?

Entrepreneur 111

Entrepreneur Revenue Viral Networking 111