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Angel Financing, Financings, Startups, Use of Lawyers, VCs
There are some thoughtful comments -- from lawyers! -- on Fred Wilson's post of yesterday on the various sets of seed funding documents now available o (Read More)
William Carleton on Mar, 04 at 10:32 AM | 3 Likes Ilike2
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Getting the Size of the Early Stage Note Round Right
So your venture needs capital, but for one good reason or another, or a combination of them, you are not going to "price" the company and rai (Read More)
William Carleton on Feb, 07 at 7:43 PM | 4 Likes Ilike2
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The Attack on Reg D: A FAQ
What is the attack on Reg D? The attack on Reg D is contained in a bill proposed by Sen. Christopher Dodd that would do two things: (a) Senator Dodd's (Read More)
William Carleton on Jan, 26 at 3:41 PM | 4 Likes Ilike2
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The Attack on Reg D: An Update
Suzanne Barlyn had a good follow-up article in the Wall Street Journal Online yesterday. In it, she makes the point that Sen. Dodd's proposed financial (Read More)
William Carleton on Jan, 16 at 10:45 AM | 2 Likes Ilike2
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Is the Attack on Reg D an Overbroad Solution to a Different Problem?
Some of us who have been worried about the threat to all-accredited investor offerings exempt under federal Reg D have been wondering why Senator Dodd' (Read More)
William Carleton on Dec, 15 at 6:48 PM | 1 Like Ilike2
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When There's Trouble on the Hill, Lawyers and VCs Should Take a Back Seat to Startup Entrepreneurs and Their Investors
Even though I haven't written about them, there are other things in Senator Dodd's bill that I and other lawyers don't like. For instance, the bill wou (Read More)
William Carleton on Dec, 07 at 12:47 AM | 2 Likes Ilike2
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Fred Wilson Highlights Public Policy Initiatives Impacting Startups, Including Dodd's Bad Proposals
Fred Wilson blogged this morning about the bad policy in Senator Dodd's financial system regulatory reform bill that would make it harder for startups (Read More)
William Carleton on Dec, 03 at 11:31 AM | 1 Like Ilike2
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No News Is Good News Dept.: House Doesn't Seem to Replicate Dodd Errors
The House Financial Services Committee announced today that it had approved a bill called the "The Financial Stability Improvement Act." This (Read More)
William Carleton on Dec, 02 at 2:20 PM | 1 Like Ilike2
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Whence Comes TechCrunch's Perception that Seattle Angels Aren't Active?
I've stayed out of the on-again, off-again debate about how Seattle entrepreneurs compare to their counterparts in Silicon Valley. I can't seem to wrap (Read More)
William Carleton on Nov, 29 at 11:55 PM | 4 Likes Ilike2
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Might Senator Warner, Venture Capitalist, Twitterer, Help Save Reg D for Startups?
The Senate Banking Committee has had an initial hearing to consider Senator Dodd's “Restoring American Financial Stability Act of 2009.” In (Read More)
William Carleton on Nov, 27 at 12:35 PM | 1 Like Ilike2
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Initial "Save Reg D" Petition Comments: Entrepreneurs the Key to Economic Recovery
Joe Wallin, Brian Myers and I have put up a petition concerning the threat to Reg D, an issue about which all three of us have written in recent days ( (Read More)
William Carleton on Nov, 24 at 9:47 PM | 2 Likes Ilike2
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A Call to Action - Help Protect Startup Financing
Under the Securities Act of 1933, any offer to sell securities must either be registered with the SEC or meet an exemption.  Regulation D contains (Read More)
Matt Heaton on Nov, 23 at 1:57 PM | 8 Likes Ilike2
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Why Would Dodd Want to Gut Reg D Anyway?
What did we do before Google search? I'll come back to that question below. Let me first report on what's happened in the week since Joe Wallin discov (Read More)
William Carleton on Nov, 23 at 11:38 AM | 2 Likes Ilike2
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But Wait, There's More! Dodd Would Let States Tinker with Reg D Offerings
In a comment today to my second post about not-so-goodies buried in the Dodd financial system reform bill, Joe Wallin points out that the Senator is al (Read More)
William Carleton on Nov, 17 at 12:11 AM | 1 Like Ilike2
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Dodd to Startupers: "Let's Make it Just That Much Tougher to Raise Angel $$"
Another nugget in the "discussion draft" of the Dodd bill: raising the bar for the "accredited investor" standard, and thus shrinki (Read More)
William Carleton on Nov, 15 at 10:57 AM | 3 Likes Ilike2
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The Ideal First Round Stock Purchase Agreement: A Progress Report
Last week, I observed that a model first round stock purchase agreement would do more to serve the cause of efficiency in the startup community -- at l (Read More)
William Carleton on Oct, 05 at 11:38 AM | 1 Like Ilike2
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TheFunded's Ideal First Round Term Sheet: A Critique
Earlier this week, TheFunded Founder Institute released a model term sheet intended for venture-oriented first round financings. In his post announcing (Read More)
William Carleton on Oct, 05 at 11:37 AM | 1 Like Ilike2
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Here's What's Happened to the 1x Liquidation Preference
In an earlier post this year about trends in first round financings, I asked the question, "Whatever Happened to the 1x Liquidation Preference?&qu (Read More)
William Carleton on Oct, 05 at 11:35 AM | 2 Likes Ilike2
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Tide Turning, Exits Not the Focus?
Along with @sleepless, @timu_matt and @johnclyman, I attended the Naked Truth event at the Olympic Sculpture Park last night, sponsored by Redfin, (Read More)
William Carleton on Oct, 05 at 11:31 AM | 1 Like Ilike2
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“New Internet” LLCs
Some “New Internet” entrepreneurs who don’t foresee needing a ton of capital are now organizing new ventures as limited liability com (Read More)
William Carleton on Oct, 05 at 11:26 AM | 1 Like Ilike2
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Signs That Early Stage Investment Models Are Changing
Depending on your point of view, angel investors are either getting more organized, or traditional VCs are moving upstream into angel territory.  (Read More)
William Carleton on Oct, 05 at 11:24 AM | 1 Like Ilike2
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The Invisible Ink is Drying. It Reads: Disruption is Easier to Sell in a Depression
One benefit of the economic depression, just starting to reveal itself, is that some startups are able to skip the early adopters and insinuate themsel (Read More)
William Carleton on Oct, 05 at 11:23 AM | 1 Like Ilike2