A term sheet is a short, mostly non-binding summary of an investment. Once signed, lawyers turn it into the final documents. Most of the important negotiation happens at the term sheet, so understand every line.
Investors7 min read
Term sheet basics: valuation and dilution
Pre-money, post-money, dilution and option pools, with a worked example, plus the other terms that matter.
General information, not legal, tax or investment advice.