Both Sides of the Table

MARCH 1, 2016

And while there is a narrative that most LPs only want to invest in the long-standing Silicon Valley brands that have existed for the past 40 years, there is evidence that many LPs understand that it is possible for new entrants in our industry to stake out grounds of differentiation. The data itself bears out some of these fears.

Venture Capital 150

Venture Capital LP Silicon Valley Marketing 150

Both Sides of the Table

JANUARY 21, 2010

Right sized : I tried to work with one of the best known firms in Silicon Valley. He’s totally tapped into the startup communities in Silicon Valley and a bit in LA. You need to know how liquidations preferences work. I know Mike Lincoln in Washington DC does. You need to own your legal agreements.

Southern California 318

Southern California Silicon Valley IP Stock Options 318

Both Sides of the Table

MAY 13, 2013

If the money comes from professional investors it usually has a “liquidation preference” meaning that their money comes out before the founders or common stock. (If That’s why liquidation preferences exist – downside protection. Almost certainly the startup would have raised some capital.

Liquidation Preference 357

Liquidation Preference Early Stage Retention Lock-up Period 357

K9 Ventures

JUNE 5, 2015

The Venture Capital industry as a whole does a terrible job of giving things the right name and so we end up keeping the same name, but changing the meaning out from under it. This means that there is interest in tech-investing from all over the world , especially focused on tech companies in Silicon Valley. (I

Seed Stage 48

Seed Stage Venture Capital Early Stage Valuation 48

Professor VC

JULY 25, 2013

It is the story of the founding of the venture capital industry in Silicon Valley and features many of the iconic companies created including Apple, Intel, Genentech and Cisco. In investment parlance, it strictly means that new classes of stock have equal rights with prior classes in terms of liquidation preference, voting rights, etc.

Term Sheet 46

Term Sheet Silicon Valley Syndicate Syndication 46

www.mattbartus.com

DECEMBER 9, 2012

A View from the Valley. Perspectives on issues affecting founders, startups and investors from a veteran startup lawyer in Silicon Valley. I've just seen many startups unhealthily focus on the valuation versus things such as the liquidation preference or board control. © 2012 A View from the Valley.

Warrant 40

Warrant Valuation Pre-Money Valuation Term Sheet 40

abovethecrowd.com

APRIL 20, 2016

Ironically, Carreyou is not a Silicon Valley-focused reporter, and the success of the piece served as a wake-up call for other journalists who may have been struck by Unicorn fever. Examples of dirty terms include guaranteed IPO returns, ratchets, PIK Dividends, series-based M&A vetoes, and superior preferences or liquidity rights.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40