Free Lesson
How down rounds impact cap tables
30 min
Jun 11, 2024 12:00 PM
Virtual (Zoom)
What you'll learn
Understand how down rounds impact founders and investors.
Nearly 20% of venture rounds were down rounds in 2023, but the impact to shareholders can vary based on the terms.
Learn the key dilution-related terms in term sheets
We'll cut through the jargon to understand what terms to look for and how the terms impact shareholders.
Learn the math of how down rounds impact cap tables
Anti-dilution calculations can appear to be really complicated. We'll unpack the black box behind down round math.
Why this topic matters
Understanding what happens to a company when it raises a down round (a new valuation lower than a previous valuation) can seem complicated and scary to founders. I will cover the theory and practice in modeling anti-dilution protection with practical examples for you to use.
You'll learn from
Taylor Davidson
Founder and CEO, Foresight