View from Seed

JUNE 11, 2019

At this point, founders find themselves in a luxurious situation of being able to build the best possible syndicate. I’ve found that the lead investor will end up doing 90% of the work for a startup (or will cause 90% of the pain if you get the decision wrong). Building relationships with multiple partners at the firm.

Syndicate 202

Syndicate Syndication Seed Stage Lead Investor 202

Both Sides of the Table

JULY 7, 2015

I love how open Danielle has been throughout the development of her startup Mattermark including honest reflections of when she has changed her opinion. All of my partners at Upfront do. We fund 10-12 companies per year at Upfront where I’m a partner. That’s what it feels like.”. The right ones are invaluable additions.

Cap Table 150

Cap Table Cofounder Silicon Valley Startup 150

David Teten

SEPTEMBER 6, 2018

Just as with any company, the most important issue is the team; see “ How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm “ . See my summary on how lead investors think about building out their syndicate. . Another critical design consideration is your tech stack. 5) Manage deal flow.

Technical Review 60

Technical Review Private Equity Management Cap Table 60

David Teten

SEPTEMBER 6, 2018

Just as with any company, the most important issue is the team; see “ How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm “ . See my summary on how lead investors think about building out their syndicate. . Another critical design consideration is your tech stack. 5) Manage deal flow.

Technical Review 60

Technical Review Private Equity Management Cap Table 60

David Teten

JANUARY 19, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. More and more startups are pursuing Revenue-Based VCs , but “RBI” doesn’t fit everyone. 2-5x return cap + path to uncapped equity-returns. Capacity Capital, Greater Colorado Venture Fund, Indie.VC, Reformation Partners, UP Fund, Versatile VC.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Hunter Walker

NOVEMBER 20, 2013

So far most of the top funded AngelList Syndicates look, well, not surprising. Additionally, funds such as Foundry Group and Google Ventures have taken their own approaches – the former creating a separate early stage entity , the latter encouraging their seed stage partners to create standalone personal syndicates.

Syndicate 99

Syndicate Syndication South America Seed Stage 99

Pascal's View

JULY 9, 2017

Unfortunately, what the CEO/founder forgets most often is that the notes have a multiplier effect in the post-money calculation; the more notes and the further the cap is from the new priced equity, the greater the variance between actual and nominal pre- and post-money valuations. It will be worth the time and effort. Sound simple?

Post-Money Valuation 49

Post-Money Valuation Valuation Cap Table Covenant 49