Venture Finance SIG: Deep Dive on Term Sheets in VC & Angel Funding
The Monthly Meeting of the Venture Finance SIG
Please register at the door.
Deep Dive on Term Sheets in VC and Angel Funding 2007
Wow!!! IPOs are coming back on-line and there is lots going on in the Valley right now, money is flowing and deals are closing - but on what terms? Come listen Tom Cervantez (Venture Capital Attorney and founder of SF based Golden Gate Angels, Chair of Harvard Business School Alumni Club - N. Cal Angel Group) lead a group of top VC attorneys, 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
-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
Peter Havas, CTO Specialty's Cafe & Bakery
Peter Havas is a serieal entrepreneur from Australia, most recently having founded SandwichDirect.com, which was acquired by Specialty's Cafe & Bakery. At Specialty's he is in charge of information technology and strategic financial issues, including fund raising and negotiation of term sheets for preferred and other funding structures that have been used by Specialty's as part of its financial operations. Peter has a law degree and was a practicing commercial lawyer in Australia prior to going into business.
Tom Cervantez, Partner, Davis Wright Tremaine LLP and founder, Golden Gate Angels
Tom Cervantez is a Corporate Partner with Davis Wright Tremaine LLP in San Francisco and the founder of the Golden Gate Angels and chair of the Harvard Business School N. Cal Alumni Club Angel Group. Tom has over 15 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-founced 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.
James M. Koshland of DLA Piper
James Koshland concentrates in emerging growth companies; venture capital; general commercial; and mergers and acquisitions.
His practice includes formation and follow-on work for venture capital-backed companies, among them AuctionDrop, Casecentral, Caspian Networks, Dust Networks, Luminous Networks, Orb Networks, TuVox, and XFire.
Mr. Koshland also is extensively experienced in multimillion-dollar technology transfer and license agreements between various technology, software, and Internet companies and public offerings and follow-on representation of such public companies as Virage and Immersion. Mr. Koshland also has represented many technology companies in mergers and acquisitions.
DLA Piper LLP
2000 University Ave.(University Circle)
East Palo Alto, CA 94303
Note: These are the tall buildings on the corner of University Avenue and Woodland Avenue on the west side of Hwy. 101. They are in the University Circle complex.
6:30 p.m. - 7:00 p.m. Registration / Networking / Refreshments
7:00p.m.-8:30 p.m. Panel discussion and Pitch Session (starts promptly at 7:00pm)
$20 SDForum members
$30 Non-SDForum members
More on the Venture Finance SIG...
Please register at the door.