Convertible Note Terms Founders Should Negotiate
Pushing hard on the valuation cap protects founder ownership at conversion.
Daniel Quach
Section
7 stories in VC Market Trends.
Pushing hard on the valuation cap protects founder ownership at conversion.
Venture debt can preserve ownership when a company can support repayment.
Ownership at seed determines every financing after it—model the cap table before you choose.
Pre-seed investors now demand demos and traction, not just ideas and promises.
Next-round investors scrutinize your current cap table before reading your pitch deck.
Venture capital concentration is shrinking Series A deals even as total funding rises.
AI deals skew seed benchmarks upward, leaving most founders overpriced.