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ReedLogic Video Seminars: Raising Another Round of Venture Capital Vs. Pursuing an Exit Strategy in 2009
ExecSense, Jan 2009, Minutes: 180
'ReedLogic is pleased to present a video seminar on “Raising Another Round of Venture Capital Vs. Positioning Your VC-Funded Company for an Exit Strategy (M&A/IPO) in 2009: Top CEOs, VCs and Lawyers on Important Considerations Given the Current Economic Outlook.” The 180-minute video seminar is guaranteed to get you up to speed on timing, presenting options to your board, achieving the best valuation, and how to maximize the value of management team equity upon raising another round or the exit event. Upon your purchase being made, ReedLogic will send you the video seminar on DVD, perfect for watching on your computer. To see a sample from a previous video seminar, please click here.
The video seminar is led by venture capitalists (Roger Novak, Novak Biddle Venture Partners; Teo Dagi, HLM Ventures; Alex Wilmerding, Boston Capital Ventures), venture capital lawyers (Michael Rennock, Foley & Lardner; Todd Peterson, Edwards Angell; Andrew Updegrove, Gesmer Updegrove; Julio Vega, Bingham McCutchen) and CEOs who have received venture capital funding (Murray Hidary, Andrew Bernstein, Stephen Bollinger). Take advantage of this resource that has been invaluable to executives of other VC-Funded companies and features the most up to date insights and benchmarks unavailable anywhere else. The video seminar features information on:
- A checklist of considerations (including valuation, management compensation, equity) to determine if 2009 is the time to start pursuing an exit strategy
- The impact the current economy has on venture-capital funded companies and what happens if it keeps getting worse
- How deal structures are changing for M&A transactions and what they mean for your personal return on investment once a deal closes
- The impact the current economy has on venture capital funds and making raising future rounds of capital for VC-Funded companies more difficult
- How to position your company for a possible sale – what acquirers and investment banks look for
- Key wording and clauses for executive compensation/employment agreements to make sure your income from a potential sale has the least tax liability possible (for your personal income)
- Insights from leading VCs, Lawyers and CEOs of VC-Backed companies on where they think the economy is heading, and the impact on VC-Funded companies if they don’t pursue an exit strategy in 2009
- A detailed look at the process of raising a follow-on round of capital in the current economy and what to expect over the next 24 months
- What deal terms are the most important in follow-on rounds
- Specific deal terms you should ask for of new investors and existing investors, and how each are different
- Dilution issues and how to make sure the management team’s ownership interest actually improves
- Management compensation and employment contract issues for key executives such as the CEO & CFO
- How long the process normally takes, how to minimize distractions and how to get the deal done efficiently
- The legal issues involved in follow-on rounds and how to make sure you don’t give up anything that you already had agreed to in the first round of funding
- Case studies of other VC-funded companies that have received follow-on rounds of funding and what you can learn from them
Samples of the types of questions answered in the video seminar on exit strategies include:
1. What are the 5-7 key characteristics that make next year the right time to sell a venture capital backed company?
2. How important is revenue when deciding to sell for the venture capital backed company? What are the benchmarks and expectations?
3. What impact does profitability have on the decision to sell? How are profitability figures interpreted?
4. How critical is the competitive landscape when deciding to sell?
5. In what way do growth plans and the need for capital impact the decision to sell? Will raising capital now be much harder given the economy?
6. What impact does the current economy have on the valuations of venture-capital funded companies? How do you see this changing?
7. What is the role of the CEO in pursuing an exit strategy? What factors should motivate the CEO when evaluating the decision to sell the company? What about the CFO, CTO, CMO, Board of Directors and other key executives?
8. How does management’s motivation different from other’s who are involved in the decision to sell? Why?
9. What role do the venture capitalists play in the decision to sell? How does the original financing deal impact this decision?
10. What is the role of the board members? What motivates the board when determining if it’s a good time to sell?
11. Can you walk me through the steps that need to happen and a hypothetical timeline if a company decides that 2009 is a good time to begin pursuing an exit strategy?
Samples of the types of questions answered in the video seminar on raising an additional round of venture capital include:
1. When is the right time for a venture capital backed company to raise a follow-on round of funding?
2. How can a company prepare well in advance of raising a follow-on round to be better situated when the time is right?
3. How will the valuation be different? How is the company valued differently?
4. Is it expected for the first-round investors to re-up their investment?
5. Is it desired for the follow-on round of funding to also have new investors?
6. What are the five most important considerations for a management team when raising a follow-on round of funding (such as valuation amount, dilution issues, new board of director members and more)?
7. How is the role/composition of the board of directors different after receiving a follow-on round of venture capital funding?
8. What role do current board members play when raising a follow-on round of funding?
9. What role does the initial set of investors play in raising a follow-on round of funding?
10. How is what you look for in investors different after receiving your first, second or third round of funding?
11. What are the roles each of the following people should play in achieving rapid growth for the company at the stage of the company when a follow-on round of funding occurs: CEO, CTO, CFO, CMO, Investors, Board of Directors?
12. What are the benefits of new investors in a follow-on round of venture capital funding, in addition to your initial investors re-upping their investment? Are the investors you look for more strategic in a follow-on round?
13. What do you hope that the follow-on round of investors bring to the table besides the investment dollars?
14. What are usually the biggest sticking points with potential new investors?
15. What other alternative financing options are there instead of venture capital for follow-on rounds that companies should consider?
16. How are valuations calculated differently in later rounds of funding – what benchmarks are used at this point that make it different than another round of funding?
17. How do deal terms change in follow-on rounds and what wording needs to be in the term sheet that is different than the original legal documentation?
18. What additional executive compensation provisions, perks and equity components should the management team ask for in follow-on rounds of funding?
About ReedLogic Video Seminars – Get Executive Smart Without the Travel
ReedLogic Videos are
1. More convenient and less expensive than traveling to a seminar and can be viewed on-demand
2. Interactive and prompt you with questions to spur your own ideas
3. Faster to watch than reading a printed book
4. Perfect for downtime in your office, on a business trip, while traveling or even at the gym'
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