Venture Startup & Financing Evening Program:
Topic: Deep Dive on Term Sheets in VC & Angel Funding in 2011
Money seems to be flowing a bit easier in the early stage startup sector in 2011, but on what terms? Come listen to Tom Cervantez (Co-Chair VC-Startup SIG, Startup 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
-Incubator deals, equity splits and funding terms and “what do you really get for that equity”
John Cheng is the COO and co-founder of Turiya Media, an early stage company that applies predictive data mining to online games. Turiyas technology enables game publishers to predictively segment and target users by behavioral characteristics. Turiya was recently named top start-up at the GamesBeat@GDC competition. The company is backed by FirstMark Capital, Metamorphic Ventures, XSeed Capital, Accelerator Ventures, and TriplePoint Capital.
Prior to starting Turiya, John was a vice-president in Credit-Suisse's technology investment banking team where he structured, negotiated and ran M&A transactions. John also has previous experience from Broadview, Banc of America Securities and Yodlee.com.
Paula E. Groves has over 20 years of private equity experience and working with entrepreneurs to raise funding. She has helped generate over $80 million in returns to investors. Ms. Groves is currently a consultant with the Alameda County Small Business Development Center and is co-founding partner of the E3 Innovation Fund, a venture capital fund dedicated to investing in underrepresented entrepreneurs and educating university students of color about private equity. Ms. Groves has an MBA from Harvard Business School and a BA from Stanford University.
Nick Henderson is with Internet Securities, an investment bank that specializes in small tech companies. Previously he was the Northern California partner of CFO Wise, a regional firm that provides CFO services to small to medium size businesses. Before joining that, he built up and sold four companies. He has been an angel investor and investee and led or participated in a number of due diligence teams. So he has been on both sides of the table. He started out in the valley at Intel and got his MBA at U.C. Berkeley. He also worked at the US State Department.
Doug Renert – Tandem Entrepreneurs. Always focuses on building value through relationships. Never stops studying the art of the deal. He started his career as a corporate attorney with Gray Cary (now DLA Piper), where he was first exposed to startups and quickly learned that he could be of more use on the business side of the table. He spent eight years at Oracle, where he caught the “business creation” bug, buying and building businesses to catapult Oracle into new markets. He left Oracle in 2005 to build Tello, a venture-backed company delivering IP communications services to business users, from the ground up. Doug has a JD and MBA from UC Berkeley and a BA from Princeton University.
Tom Cervantez – Founder and Co-President, Harvard Angels & Partner, Bizlaw
Tom Cervantez is an active angel investor in the computer, communications and networking sectors and runs the Harvard Angels (angel group for Harvard Business School NorCal Alum and Harvard Club SF) and the Golden Gate Angels investor group in San Francisco. Tom is also a partner with Business Counsel Law Group in San Francisco, working with emerging companies, venture funds and computer software and hardware providers. He advises clients in matters involving securities, capital structure planning, private placements, mergers and acquisitions, venture financing and licensing transactions. He also advises domestic companies expanding into foreign markets, and international companies seeking investment or product distribution in the United States. 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. Tom can be reached at [email protected]
6:30 - 7:00 pm Registration and Networking
7:00 - 8:30 pm Presentation
Note: There is an additional $10.00 charge at the door - if not pre-registered.
Seating is limited! It is very important to pre-register for this event. It does sell-out and we may need to turn people away. Please note: Because of Paypal's new policies, we can no longer accept American Express cards at the door.