Tim Keane

MAY 16, 2010

A philosophy of valuations and term-sheets. Several months ago, I'd posted an article about term-sheets.  A Philosophy of Valuation and  Term Sheet Calcs   the accompanying spreadsheet.  A philosophy of valuations and term-sheets. « Do we really need this help?

Term Sheet 60

Term Sheet Valuation Wisconsin Angel Investor 60

Both Sides of the Table

OCTOBER 19, 2009

My blog linked to Brad Feld’s blog because I was so grateful for his series on term sheets and he was one of the biggest reasons that as a VC I felt compelled to blog. The only other ways to get discovered was to have good organic search results or to get covered by a major blog site. That changed very quickly.

Venture Capital 274

Venture Capital Term Sheet San Diego Viral 274

This is going to be BIG.

NOVEMBER 16, 2011

While that post resulted in term sheets for Dennis and Naveen from VCs, the original intention was actually to get Yelp to invest in the company. What I wouldn't be surprised is if someone like Bing starts using Foursquare for their local search API.

Term Sheet 108

Term Sheet API Search Technical Review 108

The Next Web

SEPTEMBER 13, 2013

The term sheets tend to be fairly standardized and straightforward as well. Term sheets are littered with many more obscure protective provisions and onerous terms. If you search for funds when you’re desperate, you have no leverage and investors will smell that a mile away. This concept is universal.

Asia 132

Asia Silicon Valley India Term Sheet 132

View from Seed

AUGUST 17, 2021

As my partner Lee always says, fundraising isn’t about convincing skeptics, it’s a search for true believers. I was speaking to the former CFO of one of our most valuable portfolio companies the other day, and she recounted how this company once pitched 70 investors to barely get a term sheet.

IRR 205

IRR Dilution Founder Portfolio 205

View from Seed

AUGUST 17, 2021

As my partner Lee always says, fundraising isn’t about convincing skeptics, it’s a search for true believers. I was speaking to the former CFO of one of our most valuable portfolio companies the other day, and she recounted how this company once pitched 70 investors to barely get a term sheet.

IRR 156

IRR Dilution Founder Portfolio 156

View from Seed

AUGUST 17, 2021

As my partner Lee always says, fundraising isn’t about convincing skeptics, it’s a search for true believers. I was speaking to the former CFO of one of our most valuable portfolio companies the other day, and she recounted how this company once pitched 70 investors to barely get a term sheet.

IRR 136

IRR Dilution Founder Portfolio 136

This is going to be BIG.

OCTOBER 12, 2020

One just got a seed term sheet for twice the valuation I put in at in the pre-seed and the other is doing $200k/month in revenue. They’re too busy awkwardly trying to explain their overdue search for a new “diverse” partner and why it took until 2020 to realize that a fund full of white people was a problem.

LP 136

LP Technical Review Software Review Valuation 136

Feld Thoughts

MAY 7, 2012

And even though a term sheet might be four to eight pages long and the definitive documents might be 100 pages or more, other than economics, there are really only three things a VC needs in a deal. He attributes this to his first VC mentor, Milt Pappas, and the three terms are the same ones referenced above.

Liquidation Preference 143

Liquidation Preference Term Sheet Search Entrepreneur 143

www.seriesseed.com

DECEMBER 9, 2012

Series Seed Term Sheet (v 2.0). Series Seed Term Sheet. Ted - I think if you simply remove the spaces in the file names, that should solve the download problems, e.g. the term sheet doc should be renamed to "SeriesSeedTermSheet.doc" Same with the others. :). Series Seed IRA.

Finance 40

Finance Term Sheet Vesting LLC 40

Both Sides of the Table

DECEMBER 14, 2010

They had received a term sheet from a VC and were wondering whether to work with this firm. But what about once you have a term sheet? Do a web search to find companies that they didn’t give you. I was recently speaking with some founders about their fund raising process.

Term Sheet 298

Term Sheet Venture Capital Stealth Cofounder 298

K9 Ventures

APRIL 27, 2011

or by using keyword search, which doesn’t really cut it. The day before we were supposed to sign the term sheet for the investment, Like.com sued Ugmode (the parent company of Modista.com) for patent infringement. Arlo and AJ had devised a way to use shape and color as the two axes that helped to discover soft goods.

Software Review 134

Software Review Technical Review IP Finance 134

Both Sides of the Table

APRIL 25, 2013

We had them a term sheet the same week. Tells me she wants to do operational stuff so she joins a small team of people running City Search. Turns out Punky was a childhood hero for Tasha. That’s cute. They pitched on a Wednesday. I had them at my partners’ meeting the next Monday. We signed it the following week.

Haiti 398

Haiti San Francisco Startup Turkey 398

Both Sides of the Table

JUNE 28, 2011

My bet is that they fold A9 (their search tool) into AWS and offer search-as-a-service, too. These people understand that the nature of startups have changed. At least in the consumer & business web.

Venture Capital 334

Venture Capital Software PHP Open Source 334

Both Sides of the Table

APRIL 17, 2012

The birthplace of sponsored search (Overture), semantic search (Applied Semantics which became Google AdSense), comparison shopping (ShopZilla, PriceGrabber) and many others. True Ventures – When I was raising capital for my second company back in 2006 I had talked to many brand-name VCs and had several term sheets.

Community 304

Community Los Angeles Startup Silicon Valley 304

Both Sides of the Table

JULY 19, 2011

They want to close down the search. Lawyers : So you got your big term sheet signed and you’re now in the drafting. You thought it was going to be as easy as just having term sheet transferred to a longer form document. They’re on the final candidate. They want to place this person.

Term Sheet 319

Term Sheet PR Liquidation Preference Stock Options 319

Both Sides of the Table

FEBRUARY 8, 2010

But what about once you have a term sheet? Do a web search to find companies that they didn’t give you. One small hack – go to LinkedIn and do a search for the company name. As in real life – those that rush into marriage often find out what their partner is really like after the fact.

Venture Capital 288

Venture Capital Term Sheet Cofounder Partner 288

Gust

SEPTEMBER 27, 2014

Rather than limiting your search to venture funds, therefore, consider the full range of startup options. While VCs are the toughest nut to crack, there are many other (often better) sources of seed capital that may be available to you.

Angel Groups 159

Angel Groups Elevator Pitch Software Review Deal Flow 159

Feld Thoughts

DECEMBER 29, 2011

Once you’ve filed your Form D, the data is available on Edgar with a simple search. There are other ways to get it as well since there are plenty of services that republish Edgar data with a better UI for searching. It’ll get picked up in the daily VC publications, like Term Sheet and VentureWire.

Finance 133

Finance SEC Term Sheet Acquisition 133

Both Sides of the Table

FEBRUARY 11, 2012

submitting term sheets. payment terms (can you make it performance based? replacement search (if candidate leaves or is fired in first X months, what happens? replacement search? I learned concepts such as BATNA (Best alternative to a negotiated agreement, which every MBA will remember). part refund?

Mexico 305

Mexico Term Sheet Hiring Search 305

Steve Blank

JANUARY 4, 2010

Staring at us in the board meeting were three term-sheets from brand name VC’s and an unexpected buy-out offer from Google. They used Customer and Agile development to search for a scalable and repeatable business model to become a large company. The question was: what did the founders want to do? Take No Prisoners.

Hockey Stick 276

Hockey Stick Venture Capital Startup Cofounder 276

Rob Go

FEBRUARY 3, 2014

You want to be able to say “they are in, assuming reasonable terms. Find a lead investor: These are funds that are willing to stick their neck out and be the first “yes” and issue a term sheet. As my partner Lee often says, fundraising is about searching for true believers, not convincing skeptics. Some thoughts.

Term Sheet 73

Term Sheet Due Diligence Valuation Seed Stage 73

OnlyOnce

APRIL 27, 2021

There are signs that this is starting to change slowly — one big one is that of all the board searches we are running at Bolster, about ? Your best bet is to do it early in the process before you have a term sheet, and do it as an exploratory conversation.

Vesting 48

Vesting Cofounder Startup Term Sheet 48

Both Sides of the Table

FEBRUARY 27, 2012

And frankly if you do get a term sheet one day these are the people you’ll be working with so the more you know them (and their reputation) the better. I think if you’re running a sales campaign to raise money and you’ve identified a firm that you think will be a good fit for you that you should put in the time.

Partner 308

Partner Term Sheet Sales Portfolio 308

SoCal CTO

JULY 13, 2010

How-to learn about angel/vc term sheets - Gabriel Weinberg , June 28, 2010 I think every startup entrepreneur (and angel investor) should have a good understanding of financing term sheets. had two occasions recently to review products which had clear market leadership. Yes, even bootstrappers. liquidation preference.

Cofounder 175

Cofounder Technical Cofounder Term Sheet Startup 175

www.xconomy.com

JUNE 9, 2012

Correlation’s system assesses the risk of each prospective deal by searching for the variables that correlate with the details of successful venture investments in its database. Amazingly, nobody has aggregated this data before,” says Coats, who was previously a managing partner at San Diego’s Hamilton Bioventures.

San Diego 40

San Diego Venture Capital Technical Review San Francisco 40

finance.fortune.cnn.com

AUGUST 21, 2012

Term Sheet. Term Sheet The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley. Term Sheet. Job Search. Fear & Greed. Mutual Funds. Exclusive: Returns for brand-name VC funds By Dan Primack August 20, 2012: 12:15 PM ET. Shawn Tully. Newsletters.

Naming 49

Naming Term Sheet Private Equity Equity 49

Both Sides of the Table

MAY 11, 2010

I closed one deal (I’ll talk about that soon) and issued one term sheet (I hope to talk about that soon, we’ll see!). If it’s more than 3 weeks old it’s unlikely that I’ll ever see it unless I search on it later ( which is why I’ve started using X1 a lot more). Let’s face it.

Email 265

Email Chicago Term Sheet Bankruptcy 265

www.mattbartus.com

DECEMBER 9, 2012

Let’s say you receive a term sheet for a $1 million investment at a $3 million fully diluted pre-money valuation, and you’re kind of disappointed. I just worked on a financing for a company that received a term sheet from a group of VCs at a $7 million pre-money valuation. Term Sheets (6).

Warrant 40

Warrant Valuation Pre-Money Valuation Term Sheet 40

reidhoffman.org

NOVEMBER 12, 2013

Because unlike Google search or other means, it involves people you already trust. Thus, our pitch framed LinkedIn as a platform for finding the people you need, which we called “professional people search 2.0″, Normally, you’d expect us to explain our product — i.e., what “professional people search 2.0”

Entrepreneur 111

Entrepreneur Revenue Viral Networking 111

Gust

SEPTEMBER 5, 2012

I won’t rehash all of the customary convertible note financing deal terms and points of negotiation here. (For For a comprehensive tutorial with sample term sheet, see my prior series here at Gust.) Convertible equity strikes me largely as a solution in search of a problem. ” This is inherently a bad thing.

Finance 134

Finance Convertible Security Equity Seed Stage 134

Up and Running

JULY 26, 2013

Most sophisticated investors will already have terms they typically prefer in a deal, but they should be open to discussion. There are also some standard term sheets you can reference to see what’s already out there. I recommend searching online for “”angel investing in [your city] city.”"

Elevator Pitch 79

Elevator Pitch Angel Investor Term Sheet Business Model 79

Agile VC

FEBRUARY 28, 2012

Entrepreneurs can sink a lot of time into fundraising discussions that go nowhere or end with actual term sheets but ones they’re not prepared to accept (firms you don’t want to work with, terms you don’t like, etc). My partner @ LeeHower looks back: [link] 5 days ago Search. Previous Entries.

Early Stage 100

Early Stage Syndicate Syndication Silicon Valley 100

BeyondVC

FEBRUARY 6, 2007

Recently my partners and I were discussing the merits of a term sheet that came in for a portfolio company. While the term sheet did not meet our expectations 100%, there were a number of strong points. I can also say that there is a similarly fine line between dilution and delusion but this one is easier to draw.

Dilution 60

Dilution Term Sheet Valuation Early Stage 60

David Teten

JUNE 7, 2018

Some junior associate had failed to search and replace properly. So what can one do when drafting a relatively simple contract, like a side letter or free-standing letter agreement, or a term sheet with a few binding provisions like confidentiality and no-shop? This meant that those pages were potentially unenforceable.

Merger 60

Merger Massachusetts Term Sheet LLC 60

David Teten

JUNE 7, 2018

Some junior associate had failed to search and replace properly. So what can one do when drafting a relatively simple contract, like a side letter or free-standing letter agreement, or a term sheet with a few binding provisions like confidentiality and no-shop? This meant that those pages were potentially unenforceable.

Merger 60

Merger Massachusetts Term Sheet LLC 60

Tim Keane

JANUARY 5, 2010

Term-sheets and Valuations: Thinking about Negotiations » January 05, 2010. Startups and angels: Along the way to success. By Tim Keane, Angel Investor, Golden Angels Investors, LLC. « How To Change The World | Main. Power of Angel Investing in Milwaukee.    I look forward to seeing you at this great event.

Milwaukee 60

Milwaukee Wisconsin Angel Investor Bootstrapping 60