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What's the point of building a business you don't own?

 

 
Cap Tables   |   Valuations & Forecasting   |   409a

TWO12 helps founders reduce dilution and maximize control.

 

If you ask these common startup finance founder questions, we have answers

Cap Table

+ Where are there errors in my spreadsheet?

+ How do I clean up my cap table? 

+ How much will I dilute when my notes convert?

Valuations

+ What cap do I put on my note?

+ How do I run a 409a? 

+ What factors will increase valuation in the future?

Forecasting

+ How much will I make if we exit at $1b?

+ How much will my investors & employees make?

+ How do I model out preferences & pro-rata?

 

Pricing

$2,000 409A add-on
1 week turnaround

Join the rapidly growing TWO12 network

 

Founder Challenges

Don't let these issues get in the way of raising your round and building your unicorn - TWO12 is here to help.

"Raising venture capital is the easiest thing a startup founder is ever going to do." - Marc Andreessen

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Ownership

 

Is the ownership of your company clearly broken down? What about after your notes convert? Are you embarrassed to share your cap table?

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Cap Table Management

 

Most sophisticated investors do not trust spreadsheets. A cap table management solution is increasingly becoming a requirement. Are you using one? 

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Terms

 

Have you determined what vehicle you are using? Do you understand why you chose that vehicle over others? What are the tradeoffs?

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How Much

 

Are you asking for a range? Don't. Ask for a specific number. And make sure it's not too much or too little - be prepared to defend your number with a clearly articulated plan & use of funds.

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Founder Equity Forecasting

 

Model out your equity for at least 2 rounds. Make sure founder combined equity is at least 60% going into your Series A. If it is lower than this VCs are unlikely to invest. 

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Investor Returns

 

What are the best/likely/worst case returns on exit? How much appreciation can they expect (after dilution) in the next round? Do you understand their pref/liquidation requests? 

Customer Testimonial

 

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