Term Sheet Basics: the VC Perspective

, Director of Community @ FirstMark Capital

Term sheets can mystify even seasoned entrepreneurs. How are valuations determined? What do drag-along rights represent? What does a "board observer" actually do? What's all the math behind a cap table?

In 90 short minutes, we'll review the most important aspects of a term sheet in plain English. Topics include:

  • Funding basics: valuation & amount of investment
  • Types of securities: preferred stock vs. debt
  • Governance basics: board composition, voting rights
  • Liquidation: participation and drag-along rights
  • Negotiations: tips on strategy & common sticking points

We'll leave plenty of time at the end of class for Q&A, which will enable you to explore a VC's perspective on any issues of interest. We'll also share a sample term sheet and handy reference materials.

Prerequisites
You must be actively working on a startup to attend this class.

Dan Kozikowski

Director of Community @ FirstMark Capital

I’m the Director of Community at FirstMark Capital. I’ve taught nearly 400 students on Skillshare and am a Master Teacher, a distinction which only a small group of teachers have. My class topics range from SQL intro classes to workshops on learning to code in 120 minutes. You can read my 100+ student endorsements here. I taught myself to code in high school, then majored in computer science (and TA'd intro to CS) in college. Then I forgot most of it. Then I started coding again and got most of it back. Also, I love to teach.

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