個案資料

In this case study, students will explore some of the differences and considerations that may emerge when entrepreneurs evaluate and choose between multiple financing offers from venture capital investors. The case follows the two founders of a fictional company, All Hands, as they raise a Series A financing round. The founders have received term sheets from two venture capital firms that differ not only in the valuation of the firm's equity but also in other important financial and non-financial ways, including preference structures, dividends, anti-dilution protection and governance. Students will put themselves in the position of the founders to identify differences across the two term sheets, evaluate potential economic and governance tradeoffs, and develop a point-of-view on which offer they would accept.

• Financing
• Venture capital
• Entrepreneurship
• Corporate governance