Seed Round

These terms compound into every round after this one.

A seed round isn't a formality. The board composition, liquidation preference, and protective provisions you accept now will show up in your Series A term sheet negotiations. Get the structure right.

• Review board composition carefully — fight for control through Series A
• Understand liquidation preference structure
• Model option pool dilution before signing
• Get a 409A before issuing options post-close
• File required securities law exemptions (Rule 506(b) or 506(c))
• Update your cap table in Carta