Both Sides of the Table

SEPTEMBER 5, 2012

Because convertible debt deals often have both a ‘full ratchet’ and often have ‘multiple liquidation preferences’ “ Yup. When convertible debt first started being introduced as a “faster, cheaper way to get startups funded” they didn’t have pricing built into them. That’s right.

Ratchet 354

Ratchet Liquidation Preference Equity Stock 354

Both Sides of the Table

MAY 30, 2015

This is called a “full ratchet,” which is also historically a term that VCs would be crucified for trying to get away with but I’ll avoid talking about that in this post.]. If a VC tried to do this to you on an early-stage deal they would get such a bad reputation that no other VCs or entrepreneurs would work with them.

Liquidation Preference 150

Liquidation Preference Ratchet Angel Investor Entrepreneur 150

Startup Lessons Learned

MAY 27, 2020

Out of the Crisis #5 is a conversation with three people who pivoted their biotech company to help fight the coronavirus. Along the way, from investors to suppliers to manufacturers, ANA Therapeutics had the unique experience of being a startup to which "no one said no, and everyone said yes." 2:16) Nadja Mannowetz on her background.

United States 68

United States Europe Ratchet Technical Review 68