ABSTRACT
Odds of getting venture capital ............................................................................................... 240 Is my company right for venture capital: The venture capital “fi t” test ............................ 244 Most common reasons VCs decline to invest in a company ............................................... 252 Researching VCs ......................................................................................................................... 259 Anatomy of a VC term sheet .................................................................................................... 272 Negotiating your valuation ...................................................................................................... 279 Sample Series A preferred stock term sheet ...........................................................................300
Most of today’s business people are familiar with the term venture capital, but the term itself has only been used publicly since the late 1930s. The fi rst reported public use was by Jean Witter, the president-elect of the Investment Bankers Association of America, in his speech at the association’s annual convention in 1939. The concept was formally adopted
