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Module 4
Investment Instruments and Term Sheets
1
Convertible Instruments vs. Priced Equity Rounds
Distinguish between convertible instruments (SAFEs, notes) and a priced equity round.
2
Understanding Key Economic Terms in a Term Sheet
Evaluate key economic terms in a term sheet (valuation cap, discount, liquidation preference).
3
Understanding Control in Term Sheets
Evaluate key control terms in a term sheet (voting rights, protective provisions, board seats).
4
Understanding Pro-Rata Rights: Function & Strategy
Explain the function and strategic importance of pro-rata rights.
5
Pre-Seed Investment Instrument Selection
Choose an appropriate investment instrument for a given pre-seed startup scenario.
6
Equity Stakes: Program vs. Direct Investment
Determine an appropriate equity stake for program participation versus direct investment.
Previous module
Venture Finance and Valuation
Next module
Fundraising for Your Venture Fund