Identify major economic and governance terms for review before signing financing documents.
Program rules, amounts, and dates can change. Check the linked official sources for the current cycle.
Review economic terms
Understand valuation, security type, liquidation preferences, option pool treatment, and conversion mechanics. Terms interact, so do not rely only on headline valuation.
Understand governance
Review board composition, voting, protective provisions, and information rights. Ask counsel to explain how the terms work together.
Confirm what remains open
A term sheet may be preliminary and subject to diligence and definitive agreements. Clarify what is binding and what requirements apply.