In May 2019, we partnered with Slintel – a company we had known for 2 years prior – by leading their seed round. They have grown from strength to strength since then – ARR up >30X, ACVs up >2X – and recently announced their acquisition by...
Over 3 decades since Tim Berners Lee pioneered the world wide web, the internet has changed the way we socialize, work, shop, learn, get entertained, & so on, at an unprecedented rate. At the heart of much of the internet’s power lies data – data that...
Our portfolio company Slintel recently closed its Series A round; the round was led by GGV Ventures, with participation from existing investors (us, Accel and Sequoia). We partnered with Slintel about 2 years ago, in the middle of 2019, and our excitement levels about...
It’s safe to say that Indian SaaS companies have started making some waves in the global market in recent times – SaaS revenue for the Indian ecosystem has been pegged at ~$ 3B, growing at >30% CAGR; few companies have crossed the $ 100M ARR threshold, and...
A lot has been written about the surge in funding in Indian ed-tech – the sector received more than USD 2B in funding in 2020, compared to USD 550M in 2019. However, Byju’s acquisition of Akash finally felt like a watershed moment in Indian ed-tech (irrespective...
The Company and the Founders shall complete an initial public offering or a ‘strategic sale’ within 5 years from the Closing Date (“Exit Date”) on terms that are acceptable to the Investor. The failure of Company and Founders to provide an exit by the Exit Date shall not relieve the Company / Founders of their obligations to provide an exit to the Investor, which shall continue until the Investor ceases to hold any shares. In case of failure to provide exit, the Investor shall inter-alia have a drag along right on all other shareholders of the Company.
Liquidation Preference
Higher of 1x or pro rata entitlement on an as-if converted basis in any liquidity event. Liquidity event shall be defined in the definitive documents and will inter alia include change in control or sale of substantially all of the assets of the Company.
Pre-Emptive Rights
The Investor shall, in any subsequent offering of securities by the Company, have a right to maintain their shareholding in the Company. [Note to Draft: Any super pro rata rights will be over and above this and should be included here]
Valuation
The valuation section concerns what an investor believes the company is worth. valuation issues addressed in the term sheet will include: pre-money valuation, post-money valuation, capitalization table and price per share.
