Venture Capital News & Analysis

A term sheet is a non-binding document outlining the key terms of a proposed VC investment. Here's every section that matters and which terms to negotiate first.

Syndicates let angels pool capital into a single investment vehicle. Here's how SPVs work, who leads syndicates, and what founders should watch.

A SPAC is a blank-check company that takes a private target public. Here's how SPACs actually work, why the 2020-2021 bubble matters, and when a SPAC still makes sense.

Scout programs give operators venture capital to deploy on behalf of a VC firm, extending sourcing reach. Here's how Sequoia Scouts and similar programs work.

A SAFE is a convertible financing instrument created by Y Combinator that converts into equity at a priced round. Here's exactly how valuation cap, discount, and MFN work.

A roll-up is a PE strategy of acquiring and integrating many small companies into a larger platform. Here's how it actually works and when it beats organic growth.