Secondary transactions let existing shareholders sell shares without a company exit. Here's how tender offers, direct secondaries, and continuation funds actually work.

The complete 2026 guide to startup funding rounds — typical round sizes, valuations, metrics expected, and what each round is really for.

IT, healthcare, and industrials = 85% of U.S. VC invested capital (Cambridge Associates). AI dominates deal value at 65.4%. Here's what actually outperforms.

The board controls major company decisions. Here's how board composition, protective provisions, observers, and fiduciary duties work in VC-backed companies.

A bridge round is interim financing between two priced rounds. Here's when bridges help, when they signal distress, and how to structure them cleanly.

A convertible note is short-term debt that converts into equity at the next priced round. Here's how interest, maturity, cap, and discount actually work.