If Captain Cool Were Your Advisor on Term Sheets
The calmest mind under pressure in cricket history has one lesson for every founder who's ever panicked during a fundraising negotiation. It will cost you crores if you don't learn it.
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“The founder who needs the money most has the least negotiating leverage. Captain Cool won finals because he never looked desperate — build enough runway to negotiate from a position of patience.”
“Term sheet urgency is a tactic. 'Sign by Friday or we move on' is almost never true. Real investors don't walk away from good founders over 3 business days.”
“The three most founder-unfavorable clauses in Indian term sheets are liquidation preferences above 1x, pro-rata rights that block future investors, and information rights with no boundaries. Get a lawyer who has reviewed 50+ term sheets before you sign one.”
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Amit Tyagi
Founder, AletheiaAI & GP, Fitoor Capital
Veteran of India's startup ecosystem. Writing about fundraising, investor psychology, and what it takes to build fundable startups in India.
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