What Is a Bridge Round? When to Raise One (and When to Avoid It)
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.
Discover comprehensive resources and guides related to deal-terms. Our comprehensive guides cover VC analysis preparation, investment resources, and practical advice for investors and analysts.
Whether you're an investor preparing for market analysis, a portfolio manager helping with investment tracking, or an analyst looking for resources, you'll find valuable insights in the articles below.
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.
A cap table is the single source of truth for who owns what in your company. Here's how to build, maintain, and model one for every round.
A down round is a financing at a lower valuation than the previous round. Here's what triggers one, who it hurts most, and how to structure around it.
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 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.