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Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist

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4.10  ·  Rating details ·  13,812 ratings  ·  385 reviews
Help take your startup to the next step with the new and revised edition of the popular book on the VC deal process--from the co-founders of the Foundry Group

How do venture capital deals come together? This is one of the most frequent questions asked by each generation of new entrepreneurs. Surprisingly, there is little reliable information on the subject. No one understan
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Hardcover, 368 pages
Published August 27th 2019 by Wiley (first published July 5th 2011)
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 ·  13,812 ratings  ·  385 reviews


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Athan Tolis
May 15, 2016 rated it it was amazing  ·  review of another edition
Shelves: startups
This is the second time in my life I find myself doing the rounds to collect proper money from investors. First time, more than fifteen years ago, I used the Bagley and Dauchy classic “Entrepreneur’s Guide to Business Law” and I thought it was pretty good. This book is quite simply in a different league.

The authors, seasoned VC entrepreneurs, have a gift for writing and that’s what carries you through the book. It’s all very serious, of course, but the writing style is as far from dry as you can
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Brad
Jun 03, 2012 rated it liked it  ·  review of another edition
This book was OK and potentially very useful for anyone working through a term sheet when seeking venture capital. In that particular circumstance, I think that it is indeed a wonderful explanation of various factors. In fact, that is what the book set out to be. However, there was very limited real-world examples that gave a context for understanding the particular point being discussed. The subject is definitely difficult to speak about because of all of the legal protections and regulations r ...more
Emily Reeves
Aug 10, 2013 rated it it was amazing  ·  review of another edition
This is one of those books that I wish I had read before forming our business. It is overwhelming to think about all the legal details that go into investment deals and the terminology has been foreign to me. This book cleared up the things I didn’t understand and explained in layman’s terms what these deals really mean, what I as an entrepreneur should worry about and which terms I should not really worry about. This book is now my go-to Bible for the investment deals we will enter as our busin ...more
Alejandro Sanoja
Jan 27, 2019 rated it really liked it  ·  review of another edition
If you are a first-time entrepreneur, this book might help you skip rookie mistakes!

Venture Deals is a must-read for any entrepreneur thinking about starting, or currently running, a venture-backed company.

It might take you a bit longer to read (it took me several months which is A LOT higher than the average time it takes me to read a book), that most business books, because of the level of detail you will find. Yet, every detail is valuable because when in need you'll be able to remember wher
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Mohammed Abu Shammalah
I got a chance to read this book through the course provided by the authors last two months.
The book is organized and informative, and this is the first book under this subject. The language used is not simple for all and the reader to be aware of some financial and law issues.
Omar El-mohri
A really great book, full of information and clear exemples that uncover lot of things from the unknown about startups and VC world.
If you are an entrepreneur, an investor or something in between, you should read the book.
Tony Sheldon
If you are an entrepreneur (as I am), then this book is a gold mine. It has all the simple and complex details of venture financing and the perspective of the investors that two so many times miss.

An easy quick read with great information.

5 stars at a valuation of awesome!
Manas Saloi
Oct 29, 2017 rated it it was amazing  ·  review of another edition
If you want to raise VC or want to work in the VC industry this book is a must read. I have to admit I did not understand a lot of the terms mentioned here but I guess unless you actually raise a round you won't understand a term sheet fully :) ...more
Ilya Eremeyev
Feb 22, 2018 rated it it was amazing  ·  review of another edition
Amazing, must read for anyone involved in business - actual or wannabe founders, investors, employees. The kind of a book which makes you smarter.
Ahmed
Mar 24, 2018 rated it it was amazing  ·  review of another edition
There's nothing comparable to this book in the market. Very specific on term-sheets and other legal advice both entrepreneurs and VCs should know.

The book is somewhat a drag to read as it sometimes goes into legal details, but overall a very, very good book that only those who are working in the industry should read it.

There's plenty of other books about building great companies, valuation, how to divide stock options etc and all that you won't find in this book. But what you find in this book
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Daken
Apr 22, 2019 rated it really liked it  ·  review of another edition
Excellent - clear, concise and very practical. A must have reference for anyone involved in the entrepreneurial space.
Arun Philips
Jul 13, 2020 rated it really liked it  ·  review of another edition

‪Must read for any entrepreneur before a #VC fundraise.‬

‪Clear breakdowns of term sheets, valuations and the two most important parts of a VC deal - Economics and Control.‬
Ngoc
Jan 01, 2021 rated it really liked it  ·  review of another edition
helpful in understanding basic VC math
Oktawian Chojnacki
Learned something new.

This book is for US-based entrepreneurs not common folks like myself.
Shazzad Mukit
Apr 03, 2017 rated it really liked it  ·  review of another edition
This review has been hidden because it contains spoilers. To view it, click here.
Pavel Kolev
May 25, 2018 rated it really liked it  ·  review of another edition
This book is simply amazing. I honestly expected it to be full of bulshit motivational, full of phrases with no meaning but I was proven wrong.

This is a book that everyone who is about to start a business should read. Then re-read it again anytime when he is raising funds. The structure is simply amazing. It explains every single term in details and examples. And the best part is that is that each chapter ends with a little - "what does this all mean to you - the enterprenour".

Must must read
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Adam B
Jan 10, 2021 rated it really liked it  ·  review of another edition
Must read for any entrepreneur and VC
Jas
Jun 06, 2020 rated it it was amazing
Really good book on dealing with Venture Capitalists and Investment Bankers. Lots of good advice and even sample agreements. Very specific
Alex
May 13, 2012 rated it it was amazing  ·  review of another edition
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!
Zeb
Jun 19, 2012 rated it it was amazing  ·  review of another edition
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.
Michael Reibel Boesen
Aug 01, 2012 rated it it was amazing  ·  review of another edition
Recommends it for: Entrepreneurs
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.
Vlad Kitaynik
Nice and clear explanation of how raise money in US for your startup. Not usable in Ukraine or Russia. Should write one for Ukrainian reality:)
Rebecca Paget
Nov 20, 2014 rated it really liked it  ·  review of another edition
Covers a broad area with good summaries. Would have liked a deeper explanation in parts and more varied examples.
Andrew
Jan 22, 2016 rated it it was amazing  ·  review of another edition
Among the best books you can pick up to learn all the areas and pitfalls of term sheets and raising a venture capital round.
Rin
May 21, 2019 rated it liked it  ·  review of another edition
As someone coming across this book and the accompanying course with no prior knowledge of venture funding, I expected that this book were a good primer. Especially when describing the key players in VC funding and breaking down the term sheet. However, I guess my confusion starts when I consider that there weren't enough real-world examples for me to work with. Or perhaps I am looking for something to be there that simply doesn't exist when it comes to VC deals. Whatever the case is, I left the ...more
Himanshu Upreti
“as you'll learn, there really are only two key things that matter in the actual term sheet negotiation—economics and control.”

Fundraising is hard and even harder for first-time entrepreneurs without getting squeezed out in a deal. While reading this book won't necessarily replace the lawyer, it will definitely make you aware of what to look out for and what to negotiate for in a term sheet and subsequent final agreement in the fundraising process.

Authored by Brad Feld, an entrepreneur and ventu
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Kelly Reid
Feb 14, 2013 rated it it was amazing  ·  review of another edition
begin the process with certainty, intent and presumed success. no "thinking about" or "considering". you are or are not raising money.

set a timeline and an amount; how much do you need to get your company to a meaningful milestone? we chose 18-24 months paying 2-3 engineers, which came to around 300k. pick a specific number, not a range.

investors love to join an oversubscribed round. Don't set your target too high or you might scare away Angels who don't feel like they can make a dent.

Except the
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Quinten Selhorst
Nov 15, 2020 rated it really liked it  ·  review of another edition
If you are interested in getting a proper understanding of how fundraising works, by reading this book you’re off to an excellent start. The language of venture deals is often foreign to people who have had limited exposure to it (e.g. the first-time entrepreneur), while more often than not it’s exactly this species who need to be able to negotiate fiercely with the venture capitalists and lawyers to get the best deal terms.

By writing this book, Brad Feld and Jason Mendelson created a more equa
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Brian Ritchie
This is probably the most well organized book I've read in a while.

I had the second Edition and decided to pour through it over the course of a week.

The chapters were well split, casual in tone and easy to grasp language. The longest times were spent trying to get a grasp of the 'Legalese' examples used - but they were invaluable to the topics discussed.

I particularly appreciated the real-world/simulated examples provided because it helped me comprehend the number's and/or transactions that were
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Nari Kannan
Nov 06, 2018 rated it it was amazing  ·  review of another edition
This is a book that every entrepreneur should RUN, NOT WALK TO BUY if they are considering Venture Financing their startup. If not anything it should teach you a very valuable lesson on whether your startup is suitable for VC funding or not. 90% of entrepreneurs do not understand what VC is and waste time pursuing it when their startup is not suitable and will never, ever get funded! Read Chapter 15. How Venture Capital Works? first and then from Chapter 1. Lots of very useful, accurate informat ...more
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Brad has been an early stage investor and entrepreneur since 1987. Prior to co-founding Foundry Group, he co-founded Mobius Venture Capital and, prior to that, founded Intensity Ventures. Brad is also a co-founder of Techstars.

Brad is a writer and speaker on the topics of venture capital investing and entrepreneurship. He’s written a number of books as part of the Startup Revolution series and wri
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“Failure is a key part of entrepreneurship, but, as with many things in life, attitude impacts outcome” 5 likes
“as you'll learn, there really are only two key things that matter in the actual term sheet negotiation—economics and control.” 3 likes
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