Mock Term Sheet Negotiations at Bits & Pretzels

Follow a dynamic live negotiation of a fictitious venture capital term sheet between a founder and an investor. Will the founder give up on the vesting scheme? Will the Investor push through his liquidation preference?

The term sheet

At an early stage of a financing round, the term sheet is the first decisive step with which business angels, venture capital funds, etc. as investors and founders define the commercial and legal framework of an investment into a startup. The term sheet thus forms the basis for negotiating the contractual financing documentation of the intended investment, even before the investors begin to incur costs through due diligence and the founders therefore typically offer exclusivity for the negotiation process.

The term sheet contains the key data on the most important financing conditions. During the mock-negotiations you will learn about key terms and the issues behind, like:

• pre- and post-money valuation / dilution
• liquidation preferences
• protective provisions
• vesting of the founders' shares
• down-round protection
• tag along/drag along and
• exclusivity

Afterwards, there will be an opportunity for Q&A, sharing of experiences and networking.

Target group

We strongly believe, that only a fair term sheet is a good term sheet! Whether you are a start-up founder, an aspiring entrepreneur, or an investor looking to deepen your knowledge, this event is designed to provide you with the necessary understanding to navigate term sheet negotiations successfully.

Requirements for participation

The event will be held at the Bits & Pretzels conference venue, attendance requires the purchase of a conference ticket on the Bits & Pretzels website. Separate registration for the event is not required, just turn up and visit us in room 22.