Venture Capital

You have just agreed on a term sheet. The lead investor’s lawyers have sent through the subscription agreement, the shareholders’ agreement, and the company constitution amendments. You …

We’ve previously covered what drag-along and tag-along rights are and why they matter. This post goes deeper — into how these clauses actually operate when an exit is on the table. The theory is …

If you’ve been through a fundraise or reviewed a shareholders’ agreement, you’ve almost certainly encountered the terms “right of first refusal” and “pre-emptive …

Australian startups are increasingly looking to the US for capital. The logic is straightforward — the US venture capital market is roughly 20 times the size of Australia’s, with deeper pools of …

You’ve just received a term sheet. The headline valuation looks great — $10 million pre-money, $2.5 million investment, and you’re only giving up 20% of the company. Time to celebrate, …

If you’ve been through a funding round — or you’re about to — you’ve probably encountered the phrase “customary drag and tag provisions” in a term sheet. It sounds …