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Cullen Gordge unpacks a few of the key findings from the HSBC Innovation Banking VC term sheet guide. Whether you are a startup founder or an investor, understanding these insights can significantly impact your strategy. If you need any advice, please do get in touch!

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Colin Gorge I work at Founders Law. We're a boutique commercial and corporate law firm based in London. I'm personally originally from South Africa, a trained and studied there focusing primarily on M&A. Moved over to London six or seven years ago now and been with founders for about four years, working specifically with startups and founders on the corporate side. Undergrounds. I think a report like this is important for the ecosystem essentially because it provides a really good foundation of knowledge to all parties involved in understanding exactly what they can expect from transactions, from seed to series seed. And firms should and do want to contribute to that to show, you know, you know, being founder friendly is something that everyone can be and I think a lot of firms want to take take on that. It's better for founders because. Again, they have the ability to prepare themselves to understand, look, I don't just have to accept a term sheet as it's given to me. I don't just have to see a number there and think, well, I'm so excited about this potential investment. I'm just going to accept everything they say. What it does is it allows them to see what is common, what isn't common, what they can potentially push back on and what they may have to be accepted. Elements of the report I found most interesting I would say primarily focuses on fees that are being charged by investors. It's good to see that this is only around 11% of transactions that have this, especially in the early stage seed rounds. A bit surprising is the useful of participating preference shares, non participating preference shares rather in early stage rounds. Even if it's 20%, it seems a little bit high but will be interested to see what happens next year. So the report also showed. That there is a a difference from the last year to prior years around how easily funds and investors are accepting valuations. And obviously we saw about 1218 months ago over that period a lot of activity started to drop slightly in terms of investment rounds. And I think investors are going to be a little more focused on understanding where the evaluations are coming from and not just accepting them. Founders should be aware, essentially, of the need to really justify their valuations going into 2024. Investors are looking a lot closer at a lot more closely at valuations of businesses, especially with a little bit of a downturn in the last 12 months. So I would expect that to be pretty important focus.

Commercial & Corporate Lawyer / 3x Unsuccessful Founder / Almost Award Winning (yet to be nominated)

3mo

#IThoughtIHadAChin

Legal & Investment Associate | Yunity Ventures | Imagine Fund

3mo

Do you guys have a link to the HSBC guide?

Helping Startup Companies to Access Valuable Talents | 40% Below Market Rates | Risks Absolutely Minimised | DM me for more

3mo

How exciting! Super video Cullen!

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