Background — One Year Later: The idea for this Substack came a year ago (in 2020) while taking Write of Passage, a cohort-based writing course taught b…
The Structure and Principles of Venture Capital Fund Law
43.4% Capital Gains May Be Coming, But Probably Not For Emerging Managers & LPs
Remove the Valuation Cap and Discount. Replace it with a Conversion Percentage (%).
What's More Important to Lawyers Than Money?
Ring the Bell, It's Time to Eat
Understanding the Limits of Investment Company Act & Optimizing Your Fund Size
Market LPA Terms for Emerging VC Funds Exist, But There's No Such Thing as a Standard LPA Term Sheet
Equity Crowdfunding is Not Competing with Venture Capital, But It May Fundamentally Change the Investing Landscape for 87%+ of Americans
Legal Fees: Not a Hill to Die On, But Some Parity Would be Nice
KEY TAKEAWAYS: Section 3(c)(1) venture funds have 100-beneficial owner limits (not 99!) plus any number of knowledgeable employees. Two parallel fund s…
Key Takeaways: Startups don’t need capital—they need signal. Founders choose individual VCs based on their chemistry and personal relationship but they…