Entrepreneur Ratchet Syndicate Syndication 
Feld Thoughts
JUNE 10, 2022
Sometimes, given your syndicate configuration, you have no choice but to take structure in a new round. So, as an entrepreneur, I encourage you to deal with reality. and a bunch of other things. While my optimistic personality hopes this downturn/adjustment is short-lived, I fear it won’t be.
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. It's great for entrepreneurs! I got over it.
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