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Venture Finance SIG: Deep Dive on Term Sheets in VC & Angel Funding

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    Topic: Deep Dive on Term Sheets in VC & Angel Funding

    Presentation Overview:

    Money may be hard to come by in 2010, but it is there and deals are being done - - but on what terms? Come listen Tom Cervantez (Venture Capital Attorney and founder of the Harvard Angels and the SF based Golden Gate Angels) lead a group of top VC investors, angel investors and deal makers in a discussion about today's deal structures for venture and angel financings. For this particular event we are going to assume you have done some research and are coming to learn the finer points of financing structures and negotiations in the area of early stage venture investing (see www.nvca.org for some background information in preparation for the meeting). Topics to be covered include:

    -Terms on Angel funding, note structure, warrant structures, staged investing and “Series Seed” deals
    -Founder restrictions placed by investors - both angels and VCs
    -Valuation negotiations, tactics and strategies In depth discussion of key features of preferred stock funding - liquidations preferences, antidilution, board structures and investor restrictions
    -Capital structure norms for today - vesting terms and share allocation amounts at founding and beyond Founder replacement realities
    -Business impacts of VC versus Angel funding
    -How to build the investor funnel and close the deal

    Panelist:

    Chuck Boggs, President, Paladin Venture Development

    Chuck Boggs works with early stage high technology clients to develop and execute funding campaigns, recruit senior executives and establish early customer and strategic relationships.
    Mr. Boggs has successfully worked on funding and corporate development for several Medical Device companies including Gynesonics, SpineWorks, Aalnex, Vascular Closure Systems, Vizyontech Imaging, and XLumena.  Mr. Boggs is a co-founder of Centegy Corporation an internet business solutions provider focused on the supply chain management market. Previously, as Vice President of NovaLink USA, he sold, designed and managed the development of more than 60 Website projects for clients; American Express Travel Services, Harvard’s Deaconess Medical Center, Digital Equipment Corporation, Liberty Mutual Insurance, Meissner & Wurst GMBH, Norton Corporation and Silicon Valley Bank.  Mr. Boggs Telecommunications and Management career spans more than 25 years during which he has served as a Senior Executive in a public company, taken a company public as CEO, served on the senior team of several start ups and authored several articles on Telecommunications Management and Technology. Mr. Boggs is Chairman of the Golden Gate Angels Membership Committee, an Advisor to the Silicon Valley World Internet Center, and a member of the NeuSoft USA Advisory Board.  Mr. Boggs attended San Francisco State University and majored in Radio, Television and Film Production.

    Arin Sarkissian, President, Jeraff, Inc.

    Arin Sarkissian is the founder of Jeraff, Inc., an Internet company in stealth mode and recently angel funded.  Arin has been active in Silicon Valley startup scene since 2000 and most recently was the lead engineer for the infrustructure at Digg, and previously he was lead the engineer and created BLIP.FM and has worked at Spoke Software and Topix.   Arin BA in Managerial Economics from UC Davis. 

    Hobey Birmingham, The Perrault Birmingham Group LLC

    Mr. Birmingham is a Managing Director of The Perreault Birmingham Group LLC, where he provides investment banking and advisory services to clients, principally in the high technology industry. Hobey started his career as a transaction lawyer, working over twenty years with major law firms in San Francisco and Tokyo, specializing in domestic and international business and M&A. He then spent several years in legal and executive positions at Apple Computer and Borland Software. He has served on the boards of directors of early-stage companies as well as non-profit organizations. He has also taught international and Japanese law at the University of Michigan, Loyola University (LA) and University of San Francisco law schools. From 2002 to 2008, he was a member of the board of directors of Optical Communications, Inc., (Nasdaq: OCPI) and currently serves on the board of directors of Schilling Robotics, a privately held company headquartered in Davis, CA.

    Mr. Birmingham received a J.D. cum laude from the University of Michigan Law School and an A.B. cum laude from Princeton University, and he is proficient in Japanese.  He holds a Series 7 and Series 63 securities registrations (CA) and offers investment banking services as a registered representative of GBS Financial Securities Inc. FINRA, SIPC

    Moderator:
    Tom Cervantez, Partner, Business Counsel Law Group LLP and founder, Golden Gate Angels and Harvard Angels

    Tom Cervantez is a co-founder of the Business Counsel Law Group LLP (www.bizlaw.com) in San Francisco and the founder of the Golden Gate Angels and chair of the Harvard Angels. Tom has over 18 years experience working in the securities and finance field, with a focus on helping emerging growth companies, venture funds, and software and hardware computer companies navigate issues concerning securities, capital structure planning, private placements, mergers and acquisitions, venture financing and licensing transactions. Tom has also participated at an operating level at several companies, including a venture fund, boutique investment bank and an ISP. Tom also co-founded Britton Silberman & Cervantez LLP, which was acquired by Thelen Reid & Priest LLP in June of 2000. Tom is also an active angel investor in the computer, communications and networking sectors. Tom holds a Bachelor's in Business Administration, magna cum laude, from Loyola Marymount University, a JD from Harvard Law School and a MBA from Harvard Business School.