Monthly Archives: December 2012

Capping Preferred Participation: A Compromised Compromise?

One of the more material, contentious and potentially confusing issues in negotiating venture capital term sheets is the structure of the so-called liquidation preference.  Perhaps better thought of as the “exit preference” this is the term that spells out how … Continue reading

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Convertible What?

For some time, now, convertible debt has been the poison of choice for seed financings by angel investors.  Basically, these deals involve the investor providing capital in exchange for a note that automatically converts into equity at a future financing … Continue reading

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Go Where The Money Is

Willie Sutton once famously quipped that the reason he robbed banks was “because that’s where the money is.”  Wisconsin and other flyover country entrepreneurs can, I think, learn something from Willie’s thinking.  To wit, when looking for risk capital, at … Continue reading

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The Lean Life Sciences Startup and the Minimum Viable Milestone

The “lean startup model” is all the rage in the entrepreneurial world these days, and well it should be – for the right kind of startups.  Which is to say, for startups that can realistically talk about delivering the model’s … Continue reading

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Foundational Issues for Prospective Angel Investors

The angel investment community in Wisconsin has been growing steadily for several years now, and given the limited availability of professional venture capital in the State this is good news.  My purpose today is to offer some of the newer … Continue reading

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