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Understanding Venture Capital Term Sheets

Understanding Venture Capital Term Sheets

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Published by ninjaGuiden
This is the best resource I know of in understanding Venture Capital term sheets. It's a dissertation on the subject and explains how and where to negotiate with venture capitalists when they decide to give you an offer.
This is the best resource I know of in understanding Venture Capital term sheets. It's a dissertation on the subject and explains how and where to negotiate with venture capitalists when they decide to give you an offer.

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Published by: ninjaGuiden on Apr 10, 2008
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07/10/2013

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Cass Business SchoolMSc Investment Management - 2005
Structuring Venture Capital Deals
byShikhir SinghSupervisor: Robert CressyThis dissertation is submitted as part of the requirementsfor the award of the MSc in Investment Management
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Abstract
 Fundraising with venture capitalists can remain a largely mysteriousprocess. In a world shrouded with non-disclosure agreements, the entrepreneursare often unaware of the common practices of deal terms and are unable tobenchmark their term sheets with respect to those given to others. Inherentconflicts of interest in the split of the financial returns, liquidation, and control ofthe company lead the venture capitalists to structure the deals which benefittheir interests at cost to the interests of the entrepreneurs. This dissertationidentifies and characterizes the term sheet structures used by venture capitaliststoday and establishes their frequency. This information can be used byentrepreneurs to benchmark their term sheets and by venture capitalists toevaluate their investment strategies.
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Acknowledgements
I am very grateful for guidance, comments, and massive assistanceprovided by Katherine who made this dissertation possible. My sincerethanks goes out to my dissertation advisor Dr Robert Cressy who made thisdissertation very enjoyable.
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