Any investment process can seem complex from the outside, but we believe greater transparency helps everyone. By sharing our investment process and terms publicly, founders can understand our position and have the opportunity to prepare before meeting with us. Our goal is to spend as much time as possible getting to know the founders and their companies, rather than discussing financing terms. By sharing our investment terms upfront, we aim to avoid lengthy back-and-forth emails, demystify "VC lingo," and lower barriers to entry, allowing founders to focus on other important aspects of their business.
We've made our standard term sheet template publicly available. We've also created a guide with explanations of each term to help founders understand the document. Term sheets are not legally binding, but they are important because they outline the terms of the investment.
Our term sheet is not brief or informal. In our experience, it's best to clarify and agree upon the terms of the deal in detail before signing. Our term sheet is designed to explain the key terms of the deal in simple language to avoid surprises during the final agreements. We believe the terms we offer to early-stage founders are fair and balanced for both the founders and the company. Keep in mind that this is a template and it may evolve over time. You can learn more about why we're sharing our term sheet here.