Feld Thoughts

MARCH 29, 2019

My favorite moment of the trip was when someone asked me if I was running the Covenant or the Barkley. Sunday is the Knoxville Marathon.

Covenant 107

Covenant Marketing 107

Berkonomics

DECEMBER 21, 2017

The combination of restrictive covenants in the investor documents and the new dynamic of board members with an agenda make for a change in the culture of the corporation, certainly one for the CEO. Close. Let’s talk about the reality of taking money from professional investors.

Cost 105

Cost Covenant Stock Dilution 105

Up and Running

MAY 21, 2015

Covenants. Covenants, a legal term that just means promises, are things you promise to do (known as affirmative covenants ) or promise not to do (known as negative covenants ) as the manager of the business.

Covenant 163

Covenant Ratchet Liquidation Preference Dilution 163

Berkonomics

FEBRUARY 8, 2018

We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. Close. This statement could be considered controversial.

Covenant 105

Covenant Angel Investor Valuation Later Stage 105

Berkonomics

JANUARY 24, 2013

As loan covenants become closer to being violated or after such an event, bankers have some latitude in deciding how to handle their accounts. You’ve heard the old one – that a banker always seems willing to offer a loan when you don’t need it.

Covenant 78

Covenant Revenue Operations Email 78

Early Growth Financial Services

JUNE 19, 2014

1) Hiring — There are 3 main areas of risk here: restrictive covenants, compensation arrangements, and confidential information. Restrictive covenants — Employers often use non compete and non solicitation clauses to retain employees. Why worry about employment law risks when you have enough things to focus on: building your team, getting traction, and lining up funding? Well, as the adage goes, “an ounce of prevention is worth a pound of cure.”

Covenant 48

Covenant Non-Compete Hiring Employee 48

Berkonomics

JANUARY 4, 2018

And none of this is especially considered a trade secret, violating the unspoken covenant between competitor CEOs that there is a limit to such exchanges. Close. Many of us belong to industry associations and find ourselves at conferences and trade shows with time to spend with competitors.

Covenant 105

Covenant Revenue Employee Email 105

Feld Thoughts

JANUARY 1, 2019

I’ve signed up for the 2019 Cowtown Marathon (Fort Worth) in February and the Covenant Health Knoxville Marathon (Knoxville) at the end of March. Three of my colleagues at USV have first day of the new year posts up this morning that inspired me. Two are macro-related (Fred’s and Albert’s) but one is personal (Bethany’s). Take a look at all three – they are a good way to get ready for what is to come.

Covenant 82

Covenant Fort Worth Email Community 82

Up and Running

SEPTEMBER 26, 2016

Covenants: borrowers face fewer operational restrictions or covenants with venture debt. Accounts receivable loans will typically include some minimum profitability or cash flow covenants.

Covenant 133

Covenant Warrant Institutional Investors Balance Sheet 133

David Teten

SEPTEMBER 10, 2019

Structuring and Negotiating Executive Compensation Packages: Addressing Pay, Severance, Restrictive Covenants, and More. “The board has met and we’d like to extend you an offer to join the company. We’ll send you all the details via email. We are excited to have you join us!” ” If you get that phone call, what should you be thinking about? I compiled the best resources I found here.

Due Diligence 60

Due Diligence Stock Options Covenant Stock 60

David Teten

AUGUST 1, 2019

Structuring and Negotiating Executive Compensation Packages: Addressing Pay, Severance, Restrictive Covenants, and More. “The board has met and we’d like to extend you an offer to join the company. We’ll send you all the details via email. We are excited to have you join us!” ” If you get that phone call, what should you be thinking about? I compiled the best resources I found here: Due Diligence as a Team Member. Ready to join a new management team?

Private Equity 60

Private Equity Due Diligence Equity Portfolio 60

Austin Startup

DECEMBER 7, 2017

To solve this, VCs and entrepreneurs need a quick and easy way to provide seed funding, without a long, drawn out negotiation, onerous debt covenants, or a crazy valuation that could hurt the investor and/or the entrepreneur.

Covenant 62

Covenant Cap Table SBA Valuation 62

NZ Entrepreneur

FEBRUARY 17, 2019

Breaching facility limits and covenants – this can take the form of a company breaching its overdraft facilities with multiple excesses each month. Christmas is long gone and the short weeks caused by public holidays are behind us until April.

Covenant 59

Covenant New Zealand Forecast Operations 59

YoungUpstarts

SEPTEMBER 20, 2013

You would need sound legal advice from an attorney to ensure that you avoid nasty covenants in the lease. by Melissa Page. If you’re running a small business, you need to be on top of legal basics to make your business successful.

Small Business 223

Small Business Intellectual Property Covenant IP 223

Lightspeed Venture Partners

DECEMBER 10, 2012

Banks often have operating covenants for their loans that require the company to be hitting plan, or close to it. Although Sharktank has been running reruns on Fridays the last few weeks, the show ran a Sharktank 2012 Holiday special on Tuesday night.

Covenant 166

Covenant Warrant Southern California Los Angeles 166

Feld Thoughts

JANUARY 25, 2011

Following is my current schedule: April 3 – Knoxville, TN – Covenant Health Marathon. I’ve now put together eight great weeks of running in a row. On Sunday, I finally had a long run to town (from Eldorado Springs to Boulder). This has been a long tradition of mine and Amy’s – I run to town early in the morning and she drives in later, we have brunch with friends, and then get massages in the afternoons.

St. Louis 111

St. Louis Covenant Alaska Dallas 111

YoungUpstarts

JUNE 28, 2017

Restrictive covenants to prevent the seller opening up in immediate competition. At some point in most people’s lives, the temptation to start their own business dangles before them like the proverbial golden apple.

Covenant 141

Covenant Due Diligence Australia Social Media 141

The Equity Kicker

JULY 15, 2014

Daniel likes to give the following example: SMEs use lawyers a lot to review employment contracts, but the cost of doing so can vary from £300 to £1,400 depending on the complexity of the situation (options, founder status, restrictive covenants etc.). We recently invested in Lexoo , a marketplace connecting SMEs with legal services.

Covenant 91

Covenant Customer Early Stage Matching 91

Both Sides of the Table

MARCH 18, 2010

He had a pile of debt and covenants that made him vulnerable if the debt holders wanted to play rough. Today we announced Launchpad LA V2. Full press release with more details is here. We will be selecting 10 startup companies to participate.

Southern California 311

Southern California Los Angeles Covenant Minneapolis 311

Berkonomics

AUGUST 21, 2013

Then there is the loan audit fee, often more than $4,000 a year, to pay for the lender’s auditor to make sure the collateral and company are compliant with the covenants of the loan. Growing companies usually require more working capital during their periods of rapid growth.

Covenant 73

Covenant Warrant Dilution Intellectual Property 73

YoungUpstarts

MARCH 14, 2012

EBITDA is often used in loans covenants. Business can be a dirty business. And the language of business can be hard to understand. For beginners in the field (or the more analog of the bunch), business acronyms old and new can confuse and ultimately disappoint if not correctly understood.

NDA 219

NDA Non-disclosure Agreement Covenant IPO 219

YoungUpstarts

FEBRUARY 19, 2016

Given the challenges and limitations of non-compete agreements, there are other, less severe restrictive covenants and agreements that may be used as alternatives or supplements to non-compete agreements. By Mike Freed , attorney at Gunster.

Non-Compete 130

Non-Compete Florida Jacksonville Covenant 130

YoungUpstarts

FEBRUARY 10, 2016

Housing laws are also covered by different legal covenants, and vary by property type. Image credit: Real estate from Shutterstock.

Thailand 130

Thailand Covenant Cost Search 130

Up and Running

APRIL 2, 2015

Most commercial loan include what we call loan covenants, in which the company agrees to keep some key ratios —quick ratio, current ratio, debt to equity, for example—within certain defined limits. That bank loan you want for your company?

Covenant 170

Covenant SBA Balance Sheet CPA 170

Both Sides of the Table

APRIL 19, 2011

He tells the story of how he was out of cash, stressed out, nobody in LA or Silicon Valley would give him money, he had finally found an investor in Minneapolis but his venture bank was going to shut him down for breaking a “covenant&# in their agreement by not having enough cash in the bank.

Acquisition 334

Acquisition Customer Warrant Covenant 334

Pascal's View

DECEMBER 17, 2012

It is critical to know the state of the art in merger terms leading to an acquisition and in post-merger covenants, particularly with respect to the release of cash consideration held in escrow or as a holdback by the buyer.

Merger 45

Merger Covenant Acquisition Liquidity Event 45

David Teten

AUGUST 19, 2019

Like other RBI firms, Decathlon does not require warrants, governance involvement, or the types of financial covenants that are often associated with other venture debt type solutions. Additionally, Feenix typically needs fewer financial covenants and can provide quicker turnaround for due diligence with the benefit of transparency they receive by tracking credit card sales activity. So you’re interested in raising capital from a Revenue-Based Investor VC.

Revenue 60

Revenue Equity Covenant Wyoming 60

Up and Running

AUGUST 6, 2014

Companies seeking financing to maintain and grow their business will often look first to traditional unsecured bank loans, since that is usually the least costly form of borrowing available. However, many small businesses are either: Growing rapidly, Do not have a lengthy track record; or.

Covenant 132

Covenant Finance Operations Small Business 132

Berkonomics

JULY 19, 2010

The combination of restrictive covenants in the investor documents and the new dynamic of board members with an agenda make for a change in the culture of the corporation, certainly one for the CEO. However, outside professional investor board members can be a very good asset to the corporation with the skills, experience and broad relationships many bring to the boardroom table.

Covenant 48

Covenant Stock Dilution Angel Groups 48

Pascal's View

JULY 9, 2017

The easiest way to do so is via SAFE notes, due to their simplicity, “available online” documentation, no major covenants established to protect the investors, no governance implications at the board level, etc. Andrew Krowne and I recently co-wrote an article in Tech Crunch , Why SAFE Notes Are Not Safe for Entrepreneurs.

Valuation 42

Valuation Covenant Equity Post-Money Valuation 42

Both Sides of the Table

SEPTEMBER 28, 2014

Many venture debt lines have “covenants” that restrict you from going below a certain amount of cash in the bank (in normal times they are more common – in better times they are less common). I was reading Danielle Morrill’s blog post today on whether one’s “ Startup Burn Rate is Normal. ” I highly recommend reading it.

Burn Rate 313

Burn Rate Balance Sheet .Net Startup 313

Berkonomics

FEBRUARY 9, 2010

We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. This statement could be considered controversial. Now we explore the other side of that coin. Professional investors usually bring “smart money” to the table, defined as money that comes along with good advice and great relationships for corporate growth.

Covenant 55

Covenant Angel Investor Valuation Later Stage 55

Up and Running

APRIL 8, 2013

The biggest downside to traditional debt is that it is harder to qualify for, especially in today’s post-financial crisis environment, often requiring at least two years of consistent profitability and going forward the company must maintain and abide by strict financial ratios and covenants.

Covenant 118

Covenant Venture Capital IPO Angel Groups 118

YoungUpstarts

JUNE 19, 2018

Pensacola used a Covenant for the Community to guarantee that contractors would use local minorities in the revitalization of downtown.

America 130

America Community Covenant Florida 130

Berkonomics

AUGUST 2, 2010

And none of this is especially considered a trade secret, violating the unspoken covenant between competitor CEOs that there is a limit to such exchanges. Many of us belong to industry associations and find ourselves at conferences and trade shows with time to spend with competitors.

Covenant 62

Covenant Revenue Employee Email 62

crowdSPRING Blog

SEPTEMBER 20, 2016

In years prior, each season came with a subtitle that indicated what theme the anthology would follow in the episodes to come, including “Coven,” “Freak Show,” and “Hotel.” You might not be an American Horror Story fan. I wouldn’t blame you. The extravagant horror anthology from Ryan Murphy is at turns decadent, grotesque, and terrifying, and that’s not for everyone.

Covenant 75

Covenant Campaign Dividend Restful 75

Berkonomics

SEPTEMBER 13, 2010

Bank loans with restrictive covenants are taken on. Start-ups with one founder rarely have or need a board of directors. In fact, such a board would seem out of place in a one person company. As soon as any outside money is ingested into the corporation, others have a vested and legal interest in the behavior of officers entrusted with the best use of funds.

Covenant 55

Covenant Vesting Dilution Stock Options 55

Pascal's View

APRIL 14, 2015

Among other projects, Ari is also working with Napa Valley’s Jeff Morgan of Covenant wines to make Jeff’s first Israeli wine, kosher, of course.

Israel 36

Israel Covenant France California 36

Gust

OCTOBER 26, 2011

The Notes will be issued pursuant to a definitive Note Purchase Agreement containing customary covenants, representations and warranties of the Company. As we conclude our convertible note financing series, there are assorted terms commonly seen in term sheets and deal documents that are worth touching on briefly. What seem like boilerplate provisions can be meaningful in some situations.

Finance 100

Finance Term Sheet Covenant Accredited Investor 100

Tim Keane

MARCH 9, 2011

  Appropriate covenants.   Appropriate covenants. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. Archives. Profile. Subscribe. « Leaving a Trail | Main. | How to prepare a sales forecast for a business plan » March 09, 2011. How should I finance my new venture? It’s a deceptively simple question:  what is the optimal way to finance a new startup?

Finance 75

Finance Bootstrapping Covenant Wisconsin 75

David Teten

SEPTEMBER 2, 2017

– Restrictive Covenants (nonsolicitation and noncompete restrictions). It’s hard enough to get a job at a venture capital or private equity firm; it’s even more complex to join as a Partner. I thought it would be helpful to put together some notes on market norms and issues to consider in negotiating a partnership at an institutional investment firm. These are many of the steps I went through when I joined HOF Capital.

Private Equity 60

Private Equity Venture Capital Equity Clawback 60

crowdSPRING Blog

SEPTEMBER 20, 2016

In years prior, each season came with a subtitle that indicated what theme the anthology would follow in the episodes to come, including “Coven,” “Freak Show,” and “Hotel.” You might not be an American Horror Story fan. I wouldn’t blame you. The extravagant horror anthology from Ryan Murphy is at turns decadent, grotesque, and terrifying, and that’s not for everyone.

Covenant 48

Covenant Campaign Dividend Restful 48

crowdSPRING Blog

SEPTEMBER 20, 2016

In years prior, each season came with a subtitle that indicated what theme the anthology would follow in the episodes to come, including “Coven,” “Freak Show,” and “Hotel.” You might not be an American Horror Story fan. I wouldn’t blame you. The extravagant horror anthology from Ryan Murphy is at turns decadent, grotesque, and terrifying, and that’s not for everyone.

Covenant 48

Covenant Campaign Dividend Restful 48