This term sheet for financing early stage companies with investments from sophisticated angel investors was
developed by Gust, the platform powering over 90% of the organized angel investment groups in the United States.
The goal was to standardize on a single investment structure, eliminate confusion and significantly reduce the costs of negotiating, documenting and closing an early stage seed investment.
For those familiar with early stage angel transactions, this middle-of-the-road approach is founder-friendly and investor-rational, intended to strike a balance between the Series A Model Documents developed by the National
Venture Capital Association that have traditionally been used by most American angel groups (which include a 17 page term sheet and 120 pages of supporting documentation covering many low-probability edge cases), and the one page Series Seed 2.0 Term Sheet developed in 2010 by Ted Wang of Fenwick & West as a contribution to the early stage community (which deferred most investor protections and deal specifics until future financing rounds.)
The Gust Series Seed Term Sheet does meet Section 2.2 of the Founder Friendly Standard. The term sheet providesfor "reverse vesting"so the company can repurchase unvested stock if a Founder leaves before four years.
Nevada Gust Series Seed Term Sheet
Category:
State:
Multi-State
Control #:
US-ENTREP-0039-1-A
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Gust Series Seed Term Sheet?
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FAQ
Series Seed Preferred Stock is a type of preferred stock issued by startups during their early stage of development. Preferred stock is a hybrid security that combines elements of both debt and equity.
Series A funding comes after there is already a product and obvious traction. Seed funding is usually the first round of funding and raises a small amount of capital. In series A, the startup receives more capital to support future growth.
While pre-seed funding isn't the best option for every startup, it's often ideal for businesses in their early stages. Consider whether this type of funding is right for your business before getting started. It could be the key to a successful launch if you have a winning idea and a working prototype.
Every time you raise money, you get a little more time (or runway) for your startup to reach the next checkpoint (i.e. the next fundraising round). You start with a pre-seed or seed round. The money you get from that stage adds more time on your clock to get to the next checkpoint?your Series A.
The first round of stock offered during the seed or early stage round by a portfolio company to the venture investor or fund. This stock is convertible into common stock in certain cases such as an IPO or the sale of the company.