国外私募股权交易教程VentureCapitalDealTerms.pptVIP

Venture Capital Deal Terms Venture Capital Deal Terms Deal Terms Are A Function Of Many Factors Including: Type of Investor The Size Of The Investor’s Checkbook The Economics Of The Investment Opportunity The Funding Cycle “Principal” Investors - Institutional or Individual Investors Fund Investors Corporate Strategic Investors Not All Money Is EQUAL: Money Comes With Different Benefits and “Strings” Including Legal Requirements: Which Apply To Where the Money Comes From- The Ultimate Source Of The Funds Which Derive From The Legal Structure of the Investing Entity Determines the Size of Investment Needed Determines the Appetite and Ability To Do Follow-on Rounds Results in Deal Terms Which Protect Initial Investment or Position for Future Investment Valuation and Attractiveness of the Opportunity Business Plan Requirements Financial Resources Required Staging of Financing Requirements Completeness of Team - Additional Equity Pool Needs For the Company Seed Stage – First or Second Rounds – Mezzanine Rounds For the Investor and Its Sources of Funds Conditions and Trends in the Financial Markets Venture Capital Fund Raising Has A Cycle Too Venture Capital Funding Cycle Deal Terms Are Influenced By How Much Venture Capital Is Available By Stage of Investment By Industry Sector Capital Availability Affects Deal Pricing Deal Term Flexibility Where Flexibility Is Possible The State of Venture Capital The State of Venture Capital Venture Capital Investment Returns Venture Capital Funding Cycle SUMMARY Today There Is More Competition For Deals This Is Reflected In: Valuation of Deals More Flexibility in Terms Where Flexibility Is Possible So, What Are The Deal Terms? Issue: Venture Capital LP (VC) and/or any member of its corporate group (the VC Group) will purchase up to $2,500,000 Series A Convertible Preferred Stock (Series A) newly issued by PCI, Inc. (the Company)