Investor Documentation

Agenda

"A little background"

My background

So why VC?

Trinity Venture Capital

Investment Strategy

"Overview of key documents"

Overview of key documents (1)

Overview of key documents (2)

And the bad news…

A few general tips…

"In the beginning…term sheets"

So what’s a term sheet?

What should I expect?

Evolution of terms…

Understanding the economics

Take three term sheets…

Let’s look at the cap table…1

Let’s look at the cap table…2

Let’s look at the cap table…3

Let’s look at the waterfall…1

Let’s look at the waterfall…2

Let’s look at the waterfall…3

Importance of valuation?

Bridging a valuation gap

Anti-dilution?

So here’s our new cap table?

So…

Board representation, etc.

How to build the board?

Option pool

What about those “other rights”?

And there’s more…

"Investor’s cash…subscription"

Subscription agreement

Warranties are bad, right?

What will warranties cover?

…and on and on…

…and finally…

But what about those penalties?

Restrictive covenants?

"Living with investors"

Shareholders’ agreements

Restricted transactions?

Investor consents

Board consents

"Other documents"

Articles of association…1

Articles of association…2

"Some outright plagiarism"

Top Ten Lies of Enterpreneurs

Top Ten Lies of Venture Capitalists

Thank you.