Term sheets
A term sheet is the fight you agreed to have later, written down early. These articles cover the economic terms that actually move: convertibles, anti-dilution, LOIs, earnouts, and the deck that pretends the paper is simple. Read them before you mark up a “standard” document from counsel in another country. Standard is a dialect.
Read this set before you redline. Convertibles, anti-dilution, LOIs, and earnouts are different fights with the same bad habit: signing a “standard” mark-up from another jurisdiction. If counsel is in a different country than the company, start here. Print the sheet. Walk the economics in order. Then argue control.
Strategic Partnerships vs. Acquisitions: A Decision Framework
A structured framework for deciding between strategic partnerships and acquisitions — total cost of ownership, integration risk, speed to market, and reversibility.
Founder Vesting Schedules: Why They Matter and How to Structure Them
Why founder vesting protects all parties, standard structures (4-year / 1-year cliff), acceleration clauses, and common negotiation points with investors.
Anti-Dilution Provisions: What Founders Need to Know
How anti-dilution provisions work, the difference between full ratchet and weighted average, and how they affect founders in a down round.
Bridge Rounds: When to Use Them and How to Structure Them
When bridge financing makes sense, how to structure it to avoid unfavorable terms, and the signals investors look for before participating.
The Investor Pitch Deck: Structure, Content, and Common Mistakes
How to structure a pitch deck that gets meetings — the 12 essential slides, what investors scan first, and the mistakes that get decks rejected.
Representations & Warranties Insurance in M&A: A Practical Guide
What R&W insurance covers, how it changes deal dynamics, who pays for it, and when it makes sense for mid-market transactions.
Earnout Structures in M&A: How They Work and How to Negotiate Them
How earnouts bridge valuation gaps in M&A — typical structures, payment triggers, accounting pitfalls, and negotiation strategies for both buyers and sellers.
Startup Valuation Methods: How Investors Value Early-Stage Companies
An overview of the most common startup valuation methods — from comparable analysis to DCF, scorecard, and venture capital method — with examples and when to use each.
Pre-Money vs. Post-Money Valuation: The Math Every Founder Must Know
The essential math behind pre-money and post-money valuations — with clear examples, dilution calculations, and common mistakes that cost founders equity.
How to Raise a Seed Round: A Step-by-Step Guide for Founders
A practical roadmap for raising a seed round — from building your investor list to setting terms, running the process, and closing the deal.
Letter of Intent (LOI) in M&A: What It Is and What to Negotiate
What a Letter of Intent covers in M&A transactions, which clauses are binding, and the key terms sellers and buyers should negotiate before signing.
Cap Table Management: Best Practices for Startups
How to manage your cap table correctly from day one — common pitfalls, dilution math, and tools that help founders stay on top of their equity structure.
How to Build a Data Room for M&A or Fundraising
A practical guide to building a data room that accelerates due diligence — what to include, how to organize it, and the most common mistakes founders make.
SAFE Agreements Explained: What Every Founder Needs to Know
Everything founders need to know about SAFE agreements — structure, valuation caps, discount rates, and when to use them instead of convertible notes.
What Is a Convertible Note? A Complete Guide for Founders and Investors
A comprehensive guide to convertible notes — how they work, key terms, pros and cons for founders and investors, and how they compare to SAFEs.