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METRIC
AC
HS
FC
MC
BP
ES
LF
AE
PA
KG
SE
CF
HE
NW
RD
Fund size
$35M
AUM $75M
$60M
AUM $140M
$220M
AUM $500M
$540M
AUM $1.3B
$140M
AUM $320M
$180M
AUM $380M
$95M
AUM $240M
$75M
AUM $160M
$350M
AUM $820M
$1.1B
AUM $3.4B
$750M
AUM $2.1B
$320M
AUM $640M
$410M
AUM $950M
$280M
AUM $720M
$420M
AUM $1.1B
Stages
Pre-seedSeed
Pre-seedSeed
SeedSeries A
Series ASeries B
SeedSeries A
SeedSeries A
Pre-seedSeed
Pre-seedSeed
Series ASeries B
Series BSeries CGrowth
Series BGrowth
Series A
Series ASeries B
SeedSeries A
Venture Debt
Value-add
92/100
88/100
85/100
84/100
80/100
81/100
79/100
74/100
72/100
66/100
63/100
58/100
52/100
51/100
41/100
Track record
3 / 4
43% successful exits · 28 deals
5 / 6
45% successful exits · 47 deals
6 / 3
67% successful exits · 36 deals
11 / 3
79% successful exits · 51 deals
5 / 4
56% successful exits · 34 deals
6 / 3
67% successful exits · 41 deals
7 / 5
58% successful exits · 64 deals
4 / 3
57% successful exits · 22 deals
5 / 4
56% successful exits · 33 deals
6 / 4
60% successful exits · 29 deals
5 / 5
50% successful exits · 24 deals
4 / 5
44% successful exits · 31 deals
3 / 6
33% successful exits · 27 deals
4 / 9
31% successful exits · 38 deals
2 / 7
22% successful exits · 22 deals
Signature push
TYPICAL HARD ASK No common asks. Standard YC SAFE.
TYPICAL HARD ASK Standard YC SAFE — no asks
TYPICAL HARD ASK Information rights — monthly KPIs
TYPICAL HARD ASK Information rights — monthly reporting
TYPICAL HARD ASK Pro-rata + small super pro-rata option
TYPICAL HARD ASK Founder vesting reset on key-person event
TYPICAL HARD ASK Pro-rata rights into next 2 rounds
TYPICAL HARD ASK ROFR + co-sale across all shareholders
TYPICAL HARD ASK Right of first offer on secondaries
TYPICAL HARD ASK Redemption rights at year 5
TYPICAL HARD ASK Aggressive milestone-based tranching
TYPICAL HARD ASK 1.5× participating preference, capped at 3×
TYPICAL HARD ASK Founder lock-up + reverse-vesting on key-person
TYPICAL HARD ASK 2× participating liquidation preference
TYPICAL HARD ASK Personal guarantees + 12% warrant coverage
Signature win
FOUNDER-FRIENDLY DEFAULT Founder-only LP base. Pure operator-led.
FOUNDER-FRIENDLY DEFAULT Operator-led fund, hands-on with hiring and GTM
FOUNDER-FRIENDLY DEFAULT No founder vesting reset, ever
FOUNDER-FRIENDLY DEFAULT Always ships 1× non-participating with no anti-dilution beyond broad-based
FOUNDER-FRIENDLY DEFAULT Founder Friendly Pledge signatory since 2023
FOUNDER-FRIENDLY DEFAULT Best-in-class GTM and sales-leader intros
FOUNDER-FRIENDLY DEFAULT Standard SAFEs at seed, no side letters that disadvantage founders
FOUNDER-FRIENDLY DEFAULT LATAM-wide go-to-market support
FOUNDER-FRIENDLY DEFAULT Patient capital, supportive in down markets
FOUNDER-FRIENDLY DEFAULT Strong post-close board governance
FOUNDER-FRIENDLY DEFAULT Cross-border M&A and IPO bench
FOUNDER-FRIENDLY DEFAULT Deep technical diligence, brings real domain experts
FOUNDER-FRIENDLY DEFAULT Strong India distribution and regulatory help
FOUNDER-FRIENDLY DEFAULT Reasonable on board composition (2/2/1 standard)
FOUNDER-FRIENDLY DEFAULT Fast underwriting (<3 weeks)
Recent flags
- YC post-money SAFE (uncapped)78%
- No board seat100%
- Information rights (annual)100%
- YC post-money SAFE100%
- Information rights (light)100%
- Pro-rata (single round)94%
- Liquidation preference (1× non-participating)97%
- Anti-dilution (broad-based weighted)100%
- Information rights (monthly)74%
- Liquidation preference (1× non-participating)94% of deals
- Anti-dilution (broad-based weighted average)100%
- Pre-emptive rights (1.5× pro-rata)41% of deals
- Board composition (2/2/1 independent)88%
- Liquidation preference (1× non-participating)94%
- Super pro-rata (up to 1.25×)52%
- Founder vesting standard100%
- Liquidation preference (1× non-participating)96%
- Founder vesting reset clause38%
- Pre-emptive rights (1× pro-rata)92%
- YC standard post-money SAFE92% of deals
- Pro-rata extending 2 rounds out67% of deals
- No board seat at seed88%
- ROFR + co-sale (broad)64%
- YC post-money SAFE82%
- Pro-rata (single round)88%
- ROFO on secondary sales58% of deals
- Liquidation preference (1× non-participating)85%
- Protective provisions (18 items)64%
- Redemption rights (year 5)72% of deals
- Drag-along ≥40% threshold48% of deals
- Liquidation preference (1× non-participating)90%
- Milestone-tranched investment58%
- Heavy protective provisions (24+ items)67%
- Liquidation preference (1× non-participating)83%
- 1.5× participating with 3× cap64% of deals
- Founder consent rights narrowed48%
- IP assignment standard100%
- Reverse-vesting on key-person event58%
- Founder lock-up (5yr)52%
- Liquidation preference (1.25× non-participating)38%
- 2× participating preference78% of deals
- Full-ratchet anti-dilution52% of deals
- Personal guarantee on debt tranche34% of deals
- Founder vesting (4yr / 1yr cliff)100%
- Personal guarantee (founder)81% of deals
- Warrant coverage (12%+)68% of deals
- Open-ended MAC clause54%
- Cross-default with equity docs47%
Best-known deal
Polestar Tools · $1.2M pre-seed · 2025
Vellum AI · $2.5M seed · 2024
Mosaic Maps · $9M Series A · 2025
Onyx Logistics · $36M Series B · 2023
Northgate Logistics · $7M Series A · 2024
Ledgerline · $6M Series A · 2025
BlueGiant Health · $4M seed · 2025
Mercado Pulse · $1.8M seed · 2025
Daito Cloud · $18M Series A · 2024
Acme Robotics · $80M Series C · 2024
Helios Energy · $52M Series B · 2024
Helix Bio · $12M Series A · 2024
Tatva Health · $22M Series B · 2024
Stratus AI · $14M Series A · 2024
Onyx Logistics · $12M debt facility · 2023
Founder reports
1 verified
"Cleanest paper I have ever signed. They asked for nothing besides the cap and a small board observer right."All reports →— Founder · Pre-seed · 2025
2 verified
"Cleanest paper I have ever signed. Decision in 5 days. Useful intros within 2 weeks."All reports →— Founder · Seed · 2025
1 verified
"Boring in the best way. Term sheet → closed docs in 4 weeks, almost zero redlines."All reports →— Founder · Series A · 2025
3 verified
"Calm, professional, market-fair on every clause. Their lawyers turn around redlines in 24h."All reports →— Founder · Series A · 2023
1 verified
"Closed cleanly. Pledge signatory shows. Useful introductions to enterprise customers in NA."All reports →— Founder · Series A · 2024
1 verified
"GTM intros were genuinely useful. Vesting reset clause came up — negotiated it out."All reports →— Founder · Series A · 2025
2 verified
"Wrote the cheque in 9 days. Side-letter language was clean. Helpful intros to YC partners."All reports →— Founder · Pre-seed · 2025
1 verified
"Helpful on LATAM expansion. ROFR was broad — negotiated to founders-only."All reports →— Founder · Seed · 2025
1 verified
"Long diligence but fair docs. Did not blink in a tough market."All reports →— Founder · Series A · 2024
1 verified
"Redemption rights took two weeks of negotiation. Eventually settled at 7-year horizon. Good operators post-close."All reports →— Founder · Series C · 2024
1 verified
"Tranching was aggressive but they hit milestones reasonably. Strong network in Asia for follow-ons."All reports →— Founder · Series B · 2024
1 verified
"Strong technical reviewers. Push on participating preference was painful. Settled at 1× after competition."All reports →— Founder · Series A · 2024
1 verified
"Lock-up was the hard ask. Distribution help in India is genuinely strong."All reports →— Founder · Series B · 2024
2 verified
"Lead pushed hard on liquidation preference. Walked back to 1.5× participating only after a competing offer."All reports →— Founder · Series A · 2024
2 verified
"They moved quickly but the personal guarantee was non-negotiable. Refused to lower warrant coverage below 10%."All reports →— Founder · Series B + debt · 2024
In one line
VERDICT
Friendly paper. Push reasonable, defaults clean.
VERDICT
Friendly paper. Push reasonable, defaults clean.
VERDICT
Friendly paper. Push reasonable, defaults clean.
VERDICT
Friendly paper. Push reasonable, defaults clean.
VERDICT
Friendly paper. Push reasonable, defaults clean.
VERDICT
Mixed. Strong on some clauses, hard on others.
VERDICT
Mixed. Strong on some clauses, hard on others.
VERDICT
Mixed. Strong on some clauses, hard on others.
VERDICT
Mixed. Strong on some clauses, hard on others.
VERDICT
Mixed. Strong on some clauses, hard on others.
VERDICT
Hard paper. Expect to negotiate the headline asks.
VERDICT
Hard paper. Expect to negotiate the headline asks.
VERDICT
Hard paper. Expect to negotiate the headline asks.
VERDICT
Hard paper. Expect to negotiate the headline asks.
VERDICT
Hard paper. Expect to negotiate the headline asks.
Sample dataset for illustration. Live scores will update from app.turnsheet.co as founders submit term sheets and counsel reviews complete.
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