Dilution Employee IPO Syndication 
Austin Startup
MARCH 7, 2021
In 2019 and 2020, we saw hundreds of millions of dollars in non-dilutive funding go to Texas startups, most of which had never worked with the government before. In 2020, the Google for Startups Black Founders Fund awarded $5M of non-dilutive capital to exceptional black founders and 8 Texas founders took a big chunk of it.
www.paulgraham.com
APRIL 28, 2010
In an IPO, it might not merely addexpense, but change the outcome. Those remedial actions can delay, stall or even kill the IPO. Of course the odds of any given startup doing an IPO are small.But not as small as they might seem. Some angel investors join together in syndicates. In Boston thebiggest is the CommonAngels.
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www.paulgraham.com
APRIL 28, 2010
Mechanics Angel investors often syndicate deals, which means they join togetherto invest on the same terms. In a syndicate there is usually a"lead" investor who negotiates the terms with the startup. Dont feel like you have to join a syndicate, though. Dilution is normal. So its your choicewhether you get diluted. [
Austin Startup
AUGUST 1, 2017
By driving the valuation up, you’re usually not reducing your dilution in the round; you’re just increasing the size of the check they need to write in order to get to their desired %. When I hear someone complain that Texas hasn’t seen a lot of strong tech IPOs recently, my response is “so there’s no other way to be successful?”
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