New Enterprise Forum: Term Sheets
October 15, 2009
Skip Simms, managing director of SPARK’s business accelerator and pre-seed fund moderated a highly-compressed discussion of venture capital at tonight’s New Enterprise Forum. As Tim Damschroder (Bodman LLP) summarized, West Coast terms are generally easier, East Coast terms generally tougher, and most Midwest deals he’s seen are, predictably, somewhere in the middle. Chris Rizik (Renaissance Venture Capital Fund) and Eric Sieczka (Pixel Velocity, and co-founder of EOTech, which exited for nearly $50M in 2005) also walked the group through preferences, capital structure, and the VC “math problem”. Slides from September and October’s meetings:
Some of the questions I heard tonight weren’t strictly related to term sheets, but earlier-stage startup issues and more general funding questions I’ve seen answered elsewhere:
- http://www.cdixon.org/?p=367
- http://www.bothsidesofthetable.com/2009/07/22/do-you-really-even-need-vc/
- http://www.bothsidesofthetable.com/2009/08/14/angel-funding-advice/
- http://blog.startupprofessionals.com/2009/04/startup-valuation-top-ten-techniques.html
- http://www.firstascentventures.com/blog/?p=17
- http://redeye.firstround.com/2009/10/company-math-vs-vc-math.html
Presenting companies tonight included Midland’s Advanced Battery Concepts and Ann Arbor’s Bio Logic Engineering.
