Submit
Log In Sign Up
Go to Fundraising
Previous Question Next Question
0
Fundraising

What are the basics of LP term sheets and investor qualifications for first-time fundraisers?

Asked by:
Community Member
1
0
0
May 03, 2023
I'm a first time fundraiser and I have some super basic questions: Is there a standard or basic term sheet for a LP? Is anyone who wants to invest considered an LP?
1 answer
0
Mike Suprovici
Accepted Answer
May 03, 2023
As you accelerate your pitching you will use a PACT to collect interest. Then after you have $1m+ or more collected in PACTs, your law firm will help you incorporate all the entities and governing docs. Then you will send LPs an LPA to sign. 
Add a comment

Log In or Sign Up

Please Log In, or Sign Up to participate in the discussion.

Log In
or
Sign Up

Apply to VC Lab Cohort 16

Get full access to Decile Base and the Decile Hub venture platform for free by joining the VC Lab program.

Apply to VC Lab Cohort 16
Related Questions
Do We Need to Expose Our Entire Deal Flow to LPs, or Just Invested Deals, and What Are the Risks and Confidentiality Concerns? 1 May 03, 2023 What is that software that benchmarks term sheets? 0 May 03, 2023 Capital Call Frequency 3 Jul 23, 2023 What types of LPs should I go after? 1 Dec 22, 2023 I recently heard about the JOBS Act that was passed in 2012 and how it enabled a VC firm to raise a $20M fund from retail investors. Does anyone else know about this? Is it really legal? 1 Jul 10, 2024