Agile VC

APRIL 17, 2011

liquidation preference, 6% accumulated dividend (1). Post-money valuation probably no higher than $12M (2). Series A-1 Preferred. liquidation preference, 6% accumulated dividend. Pre-money valuation was initially set higher but was adjusted to match the Ser B valuation. Series B Preferred.

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Professor VC

JANUARY 17, 2008

One of my comments was that we would likely see more institutionalization of angel groups and syndication of deals among groups. Another comment which probably deserves more discussion is around valuation. He also said they typically only invest at a $1 million pre-money valuation or less. My facebook can beat up your facebook.

Pre-Money Valuation 28

Pre-Money Valuation Angel Investor Angel Groups Valuation 28

Tim Keane

APRIL 12, 2006

We are open to them and prefer to begin to co-invest at. valuation than the previous round. We don’t like them and would prefer not to be involved. If the investors ideal size is smaller than your need, you ought to ask about syndication. It is used by some investors who like the deal but can’t come to terms on valuation.

Entrepreneur 60

Entrepreneur Valuation Sweat Equity Common Stock 60

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. Better how?

Technical Review 76

Technical Review Startup Software Review Angel Investor 76

Professor VC

JUNE 6, 2016

I can just picture Mr. Rogers saying "Children, can you say participating preferred stock with an uncapped 3x liquidation preference and a full ratchet?" When AngelList first launched syndicates a few years ago, I was very skeptical of the idea of angels taking carry on my investment. I got over it.

Syndicate 28

Syndicate Syndication Cap Table Ratchet 28

Scott Edward Walker

NOVEMBER 26, 2017

In fact, in this new fundraising environment (with syndicates on AngelList , etc.), The goal is to get one of these investors to be your “lead” or “anchor” (the one putting in the most money), who will take ownership of the deal and be there during thick and thin. your lead may be able to make the deal happen very quickly.

Term Sheet 63

Term Sheet San Francisco Founder Investment Bankers 63

www.paulgraham.com

APRIL 28, 2010

You give a startup money and they give you stock. 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. [

Angel Investor 63

Angel Investor Syndicate Syndication Dilution 63