Transparent VC

Let's talk about board of directors. Why do they exist? How do they work in public companies vs startups? What should you as a founder be thinking about when dealing with a board of directors. Jerrod and Kevin hit upon all of these and more while also sharing some quick takeaways and learnings during episode 6 of Transparent VC.

This episode features FC Venture team members: 


❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)


❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

Conversations reflect the opinions of those on the show, not necessarily an official stance of FundersClub.

What are the basic tips and tricks to raising a round of financing? We’ll take you through our best practices and learnings regarding fundraising that we’ve built out over the last 4.5 years, speaking with thousands of founders, and participating in hundreds of financing rounds.

Fundraising Best Practices Presentation(referenced in podcast): https://fndrs.cl/TransparentVCEp5Presentation

This episode features FC Venture team members: 


❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)


❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

Conversations reflect the opinions of those on the show, not necessarily an official stance of FundersClub.

In episode 4, Jerrod and Kevin discuss how and when to raise capital if your company is running out of cash and you need capital to grow your business.

This episode features FC Venture team members: 


❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)


❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

Conversations reflect the opinions of those on the show, not necessarily an official stance of FundersClub.

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— TEMPLATE ESCROW'D CLOSING AGREEMENT —

[ ],

Attached are [investor]’s signature pages for the [ company ] financing. In addition, [ investor ] LLC has wired $[ ] into the escrow account of [escrow agent], counsel to [ company ]. The wire should be received tomorrow--please confirm its receipt.

The signature pages and funds are to be held in escrow by Company counsel pending authorization by [ investor ] to release the signature pages and funds.

If by [ time / date ], the Company has completed the following conditions, the signature pages and funds can be released:

The Company has closed on a minimum of $[ ] in its [current financing round] financing.

"Closed" is defined as any combination of the below, in the aggregate amount of $[funding minimum]:

Funds which have been received in bank account of [company ]

Funds which are held in escrow account of Company counsel

Proof of wire transfers which have been provided to and approved by [company name]

If not, the signature pages and funds from [ investor ] will remain in escrow until requested to be returned to [ investor ] .

Let me know of any questions.

Best,

Episode 3 of Transparent VC dives into whether seed stage companies should raise a convertible debt round or an equity round. The FundersClub Venture Team discusses these two common ways young startup companies raise capital and look at what you are getting yourself into by doing so.

This episode features FC Venture team members:

❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)

❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

Conversations reflect the opinions of those on the show, not necessarily an official stance of FundersClub.

Liquidation preference is an interesting part of deal making that's not often talked about, but it can have a substantial impact particularly earlier on in a business' life. Episode two will speak to the history of liquidation preference, share situations where it goes well, where it goes badly, and how to find alignment with it.

This episode features FC Venture team members:

❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)

❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

❖ Pedro Sorrentino (Soundcloud & Twitter: @pedrosorren)

Conversations reflect the opinions of those on the show, not necessarily an official stance of FundersClub.

Over the past 4 years, the FundersClub team has invested in over 200 startups and talked with over 10,000. With that much exposure into the startup scene we've seen and learned a lot. With VC being a blackbox to many founders, we aim to change that. With our new podcast Transparent VC, join us as we divulge and discuss the good, the bad, and the ugly regarding startups, the tech industry, and venture capital.

In our first episode "Founders, Beware of Super Pro-Rata" we discuss the dangers of super pro-rata, why founders should avoid it and what they can do if they've already raised a round including it. Where most of the time, things go well when raising a round, when there's misalignment between investors and founders. things can go terribly wrong.

This episode features FC Venture team members:

❖ Kevin Lee (Soundcloud & Twitter: @kevinleeme)

❖ Jerrod Engelberg (Soundcloud: @jerrodsamuel | Twitter: @jengelberg)

❖ Pedro Sorrentino (Soundcloud & Twitter: @pedrosorren)