Negotiating of your start-up’s next financing round starts with the term sheet. But its importance is often underestimated by founders. This panel discussion is about the ropes of negotiating a term-sheet and to get a better understanding of the investor’s, founder’s and lawyer’s perspective. For our panel we have therefore assembled experts from all three areas, including Clemens Koós (Investment Manager at signals Venture Capital), Stefan Jorgensen (CEO and Founder at Itembase), and Kristian Lutz and Johannes Steinacher (Lawyers at HYAZINTH).
Who Should Attend?
- Anyone who is thinking about raising money for their startup
- Anyone that wants an understanding of fundraising for early stage businesses and products
- Anyone who has started discussions with investors about funding terms
What are some of the Topics?
- How to crunch the numbers – what is the difference between a non-diluted pre-money valuation and a fully diluted post-money valuation?
- How to build the right cap table: trust and pooling.
- Guarantees – what is their purpose and are they dangerous?
- What is meant by a pre-emption right and why do Investors request a down-round protection?
- What rules are there on the disposal of shares and what is the importance of a right of first refusal, tag-along and drag-along right?
- Is there a market standard regarding liquidation preferences?
- Why is vesting important for investors and founders alike?
- What co-decision rights do investors usually demand and which are particularly relevant to them?