Negotiation with investors & intro to term sheets

1. Startup Dhaka

2. • Asymmetry of Information
• Investor – Sees more deals
• Entrepreneur – Knows market and company
• BATNA – Best Alternative to a Negotiated Agreement
• Understand Investor Motivations
• Financial v. Strategic v. Personal v. etc.
• Build Long-Term Relationship
• Smart v Dumb Money
Tips for Negotiations

3. NVCA Term Sheet Sample

4. • Cap Table
• Pre-Money and Post-Money Valuation
• Liquidation Preference
• Voting Rights & Board Competition
• Anti-Dilution Protection
Key Terms