Venture Deals

Brad Feld and Jason Mendelson's guide to how venture capital deals work, from the economics and control terms in a term sheet to convertible notes and running a raise. Founders come away able to read a term sheet, run the key math, and spot which points deserve a fight.

4 sections ยท 11 lessons

Course outline

Reading the Deal

  1. Only Two Kinds of Terms Really Matter
  2. Who Can Actually Say Yes

The Economic Terms

  1. The Price Behind the Headline Valuation
  2. Who Gets Paid First in a Sale
  3. When the Next Round Is Cheaper
  4. Why Vesting Protects Founders Too
  5. Choosing Between Two Term Sheets

Control and Fine Print

  1. Board Seats and Veto Rights
  2. Who Can Force or Block a Sale
  3. Small Terms With Sharp Edges

Raising the Round

  1. Convertible Notes Still Set a Price
  2. Raise Like You Mean It
  3. Planning a Seed Round

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