Understand term sheets, investor commitments, and how startup deals really work.
Sunny looks at VC as a game, one that has rules. You can still choose to play with people good people, but know that they have objectives that may not be the same as yours.
After raising in the bubble of 2021, the next raise proved both challenging and humbling.
Sunny shares, “The Series A felt like poetry. It didn’t feel like finance. And I think there, underlying that, there’s some delusional problems with how I was managing the company at the time.”
There are 14 weeks between now and Thanksgiving. If you don’t have a term sheet by then, you’re not going to get one until Q1 next year.
Stacking SAFEs gets messy, vs. priced rounds that clean cap tables. And having more investors can benefit you because they can make introductions to other investors.
Peter & Allyson share about some of the things founders should be aware of when raising money on SAFE notes.
What to say when asked about your valuation expectations. And don’t forget to negotiate valuation!
A year after the boom-times, raising another funding round was a different story.
Unsure of whether or not he wanted to raise, Alex found himself with term sheets for both venture funding and an acquisition in mid 2021.
Clearly define the depth of legal scrutiny required on each issue to streamline the process.
This past December, SpringTime Ventures led a complicated priced equity round. It was the first round that I ever led and I learned a ton of lessons. The first two are that the relationship between the lead VC and the founder is the single most important thing. Second, have great lawyers who know the unknowns.
Wrapping this up, I’ve been watching the “Follow-On Death Spiral” for the last year. It’s not all bad news through.
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