Angel Knowledge Series
Best Practices inQuestioning and Crafting Angel Term Sheets.
Latest Trends and Best Templates.
Panelists.
• AngelLounge, Charlie Paparelli.
• Delaware Crossing Group, Elizabeth Sigety.
• HealthTech Capital, Anne DeGheest.
• New World Angels, Rhys Williams.
• Vancouver Angel Technology Network, Mike Volker.
• Moderator: Michael Price, CEO Ventures
Agenda.
1. What Matters.
a) Friends & Family vs Formal Styles (Pros/Cons/timing).
b) The 3 Non-Negotiables:
1. Up (Pro-rata rights),
2. Down (Liquid. Prefs),
3. Info (Seat & Observ).
c) Importants (terms of employment/separation, covenants).
d) Nice to Haves.
e) Bad Ideas. Super Pro-Rata rights, large or even board, lifestyle pay, etc.
2. Trends.
a) Latest Equity vs Convertible Note trends.
b) Valuation and round right-sizing trends.
c) Liquidation prefs and participating/non. trends.
d) Board seats and governance trends.
e) Pro-rata vs Super Pro-rata trends.
f) Founder vesting w/accel on Change of Control.
g) Founders compensation trends.
h) Option pool trends.
i) Milestone trends (traunches, ratchets on misses).
j) Discount rate on Convertibles trend.
3. Good Templates.
a) Series Seed Style: View
b) Y-Combinator Style: View
c) NVCA Style: View
d) Euro-Style: View
e) Alliance of Angels/ACA Style: View
f) WSGR Term Sheet Generator: View
4. More Resources.
a) Brad Feld's Relevant Blogs: View
b) Chris Dixon Blog: View
c) Fred Wilson on term sheet Milestones: View
|
|