As each new generation of entrepreneurs emerges, there is a renewed interest in how venture capital deals come together. Yet there really is no definitive guide to venture capital deals. Nobody understands this better than authors Brad Feld and Jason Mendelson. For more than seventeen years, they've been involved in hundreds of venture capital financings, and now, with Venture Deals, they share their experiences in this field with you. Inspired by a series of blog posts—created by the authors after a particularly challenging deal—this reliable resource demystifies the venture capital financing process and helps you gain a practical perspective of this dynamic discipline. Whether you're an experienced or aspiring entrepreneur, venture capitalist, or lawyer who partakes in these particular types of deals, you can benefit from the insights found throughout this book. Engaging and informative, Venture Deals skillfully outlines the essential elements of the venture capital term sheet—from terms related to economics to terms related to control. Feld and Mendelson strive to give a balanced view of the particular terms along with the strategies to getting to a fair deal. In addition to examining the nuts and bolts of the term sheet, Venture Deals also introduces you to the various participants in the process, discusses how fundraising works, reveals how VC firms operate, and describes how to apply different negotiating tactics to your deals. You'll also gain valuable insights into several common legal issues most startups face and, as a bonus, discover what a typical letter of intent to acquire your company looks like. While it would be desirable to do venture capital deals with a simple agreement on price, a handshake, and a short legal agreement, this rarely happens. Venture Deals reveals how venture financings really work, and will save you a remarkable amount of time and money in your journey to create an amazing company.
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"The start-up life isn't for everyone. It is a strange path that in which most of the time you feel like your failing, and it is only usually only at the end that you feel vindication for all the hard work. Most of all, as collegiate and tribal as startups are, it is a very lonely road where its hard to find people that you can discuss your angst with and can share the context. That is why books like this one ought to be treasured: it is straight and pragmatic talk about all the milestones you'll hit in your journey if you're lucky enough to come out on top. If you are crazy enough to still think a start-up is the way to go, consider this as good a "consigliere" as you'll find." — Cristobal (5 out of 5 stars)
"The start-up life isn't for everyone. It is a strange path that in which most of the time you feel like your failing, and it is only usually only at the end that you feel vindication for all the hard work. Most of all, as collegiate and tribal as startups are, it is a very lonely road where its hard to find people that you can discuss your angst with and can share the context. That is why books like this one ought to be treasured: it is straight and pragmatic talk about all the milestones you'll hit in your journey if you're lucky enough to come out on top. If you are crazy enough to still think a start-up is the way to go, consider this as good a "consigliere" as you'll find."
" A must read for every entrepreneur. "
" This is a very good book for someone creating a startup and looking for funding, even if not in the US. It is simple and short, so don't expect to become an expert, but precisely because of this it is a very good introduction. "
" There's not another book available that covers the subject matter in such an approachable matter. "
" I liked the section that went through the fine print on a term sheet point by point. The part explaining VC motivations is good but brief. I like the little capstone summaries of Entrepreneur's Perspective. "
" Venture Deals is a great resource for a startup looking to raise money. Its a pretty dry topic but they do a good job of keeping it short and interesting. "
" This book walks through both the term sheet and the letter of intent, in a detailed and readable way. I learned a lot and I'd recommend this book to entrepreneurs, investors or anyone working with VC firms. "
" As good as a book on the ins and puts of taking on investment for your startup could be. Every entrepreneur who plans to take on funding ought to read this one. "
" Very clear & useful - for entrepreneurs and investors, or just people who hear about "series A" and want to know what it means. "
" Extremely helpful in understanding the incentives of lawyers, entrepreneurs, and venture capitalists and how they play out in a termsheet. Absolute must read for every entrepreneur! "
" This is the best book I have ever read that explains the fundraising process. I like the idea that they comes from the entrepreneur perspective. This goes a long way towards helping an early stage company understand investor motives. "
" A solid read, with lots and lots of information. Quite US-focused (but then, that's hardly much of a surprise). I didn't quite digest all of it, but it'll definitely be worth a re-read if/when my companies get to a funding stage. "
" Absolutely invaluable - must read for any startup! "
" I love this book. It's a must-read for any entrepreneur who may one day be involved with venture capital, and it's fascinating even for those who won't. "
" A lot, a lot of details about venture capital, deals, fundraising process, term sheet, papers, etc. "
" Must read if you're even thinking about raising. "
" I picked this up on a recommendation by a good friend who invests in early stage companies. Awesome book! It was well written, entertaining at times, and I came away with a much better picture of how VC-backed financing works. "
" Great introduction into venture capital deals, stays relevant and practical throughout. Must read for any entrepreneur. "
" Wish I had this before I went out looking for $$ as an entrepreneur. Straight-forward book that covers all the basics as well as some of the not-so-obvious stuff. "
" Dense. Valuable. Funny in very little bits. Something I'll keep close to hand when we raise again. "
" This book should be on every entrepreneurs curriculum! It explains in simple terms the ins and outs of the process of negotiating a term sheet. "
" Great run down of venture financing, even if you're not looking to raise money yourself. "
" Great book. Well structured and easy to understand. A must read for entrepreneurs. "
Brad Feld has been an early-stage investor and entrepreneur for over twenty years. Prior to cofounding Foundry Group, a Boulder, Colorado-based early-stage venture capital fund that invests in information technology companies all over the United States, he founded Intensity Ventures, a company that helped launch and operate a number of software companies. He is the coauthor of Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist and Do More Faster: TechStars Lessons to Accelerate Your Startup.
Jason Mendelson has over a decade of experience in the venture capital and technology industries in a multitude of investing, operational, and engineering roles. Prior to cofounding FoundryGroup, he was a managing director and general counsel for Mobius Venture Capital, where he also acted as its chief administrative partner. He is the coauthor, with Brad Feld, of Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist.
Lloyd James (a.k.a. Sean Pratt) has been narrating since 1996 and has recorded over six hundred audiobooks. He is a seven-time winner of the AudioFile Earphones Award and has twice been a finalist for the prestigious Audie Award. His critically acclaimed performances include Elvis in the Morning by William F. Buckley Jr. and Searching for Bobby Fischer by Fred Waitzkin, among others.
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