Tuesday, August 25, 2009

"The Funded Publishes Ideal First Round Term Sheet"

Great effort and much needed move by Adeo Ressi. Article from TechCrunch:

Adeo Ressi, founder of The Funded, a site where people rate venture capitalists and the Founder Institute, an incubator of sorts, has long ranted about what he calls “the atrocities of investors.”

Now, a lot of people, including prominent angel investors and venture capitalists, are starting to listen to him. Tomorrow Ressi will announce a new, basic term sheet for use by investors and founders. The goal is to protect founders and reduce legal fees, which average $50,000 or more per venture round...

FFI Plain Preferred Term Sheet -

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