Startup funding can be a jungle for first-timers. In the fever rush of being caught by an investor’s eye, it can be hard to fully grasp the intention of a term sheet and understand the legal shenanigans. Yet there’s no way around it, if founders want to avoid getting off on the wrong foot with their new investor BFFs
Why you should attend
A term sheet is a non-binding agreement that covers the basic terms and conditions of an investment which serves as the groundwork for the more detailed, legally binding documents to come. You’ll find the essential aspects of your investment deal without plunging into every detail of the final binding contract, including valuation, securities being issued, board rights, the rights of a shareholders to sell share, to mention a few.
Once all the parties involved reach an agreement on the details laid out in the term sheet, a binding agreement is drawn, signed and off you go on your honeymoon! Sounds pretty simple, right? (hint: there might be more to it).
Getting the term sheet right is about planting the seeds to a valuable relationship to which founders with high growth ambitions and a visionary mindset can gain great wins. Worst case, founders will find themselves in serious trouble down the road trying to unwind legal terms and bad vibes, not to mention the frictions that comes in the backdrop of the processes. And who’s got time for that?
So where to begin? To help find the most valuable answers, we’re pouring out the insider-secrets about what pre-seed and early seed investors intend to achieve with the term sheet in an open conversation with a founder who’s made it through the wilderness.
Program
09.00 – 09.05
Welcome and introduction to the topic with PSV Academy Program Manager Camilla Baumgarten
09.05 – 09.25
A thorough guide on the term sheet by PreSeed’s own legal force of nature Jonatan Hjortdal
09.25 – 09.45
Founder’s story and perspective with Toke Lund, founder and CEO of Enterspeed
09.45 – 10.00
LIVE Q&A – Ask us your most burning questions
What to expect:
- Understanding what a term sheet is, how to approach it and what to look for so you don’t end up getting burned in the long run
- Getting up to speed on the legal jargons every founder should know by heart
- Understanding of the investor’s intention behind the document to help you understand how to proceed your negotiations on good terms.
- Get into the thoughts and headspace of one badass founder, who’s made the cut and will help you boost your founder’s game in the funding arena