Venture Capital
Legal: Talking term sheets
Venture capital financing is a complex transaction and involves significant commercial risks for all parties. Many founders simply sign the term sheet presented to them by a venture capital fund without fully understanding the impact of provisions such as price ratchets, participating liquidation preferences, redemption rights, lock-ins, drag-alongs and put options. It is critical to [...]
Strategy: Attracting capital – are you ready?
The statistics are disturbing. A typical venture capital (VC) firm receives around 1,000 business plans a year, and quickly rejects 90% without a detailed review. The problem is not a shortage of investment funds — money will always be available for promising investment opportunities. Rather, most entrepreneurs do not understand the expectations and requirements of [...]
The Entrepreneur vs. Venture Capitalist
A meeting of minds or clash of heads? It is little wonder that only a small proportion of investment proposals ever successfully attract venture capital. The relationship between entrepreneurs and investors can sometimes be likened to the relationship between contestants in a boxing match, entering the ring from opposite corners, both adamant they are up [...]
Memoirs of a tech wreck insider
It’s now four years since the ‘tech-wreck’ of April 2000. Four years!!! Can you believe it? Yet, it’s so hard to move on. We continue to talk about it, romanticize it, lament it, tut-tut at our folly. And we definitely can’t stop writing about it. Like the unnamed narrator in Joseph Conrad’s Heart of Darkness, [...]
Tony Surtees: mind games
Best-selling author and entrepreneur Seth Godin, describes him as “one of the most brilliant marketers on the scene today.” Most Australians know him as the man who built Yahoo!’s Commerce Group. Today, Surtees faces a new challenge: exposing Australians to the Silicon Valley mindset. And sometimes, the truth ain’t too pretty. Australia probably knows you [...]
Let’s get smart about technology investment
It will soon be 20 years since the Federal Government launched its MIC Program to kick-start the Australian venture capital industry. So why is it that we still haven’t got it together when it comes to ICT? Why does this sector still bemoan a lack of venture capital? Unfortunately, the answer is not in either [...]
Legal: Structure for success
So the blood, sweat and tears of the last five years has finally paid off and you have developed the next big thing. You have put together a business plan and begun speaking to venture capitalists. But while they appear interested in the technology and business, they have reservations. How could this be? Marcus Best [...]
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