Understand every clause in your term sheet before you sign.
A clause-by-clause review and negotiation guidance from advisors who've seen the patterns — so you know exactly what you're agreeing to, on control, economics and everything in between.
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A term sheet is short, but every line matters
Term sheets are deceptively short documents that lock in the economic and control terms of your round — liquidation preference, anti-dilution, board composition, protective provisions, information rights. Founders often focus on valuation and skim the rest, only to find the real terms mattered more once the round closes.
We walk through your term sheet clause by clause, explain what each provision actually means in practice (not just in theory), flag anything unusually founder-unfriendly relative to market norms, and help you understand what's worth negotiating and what's standard.
A high valuation with an aggressive liquidation preference or full-ratchet anti-dilution can leave founders worse off than a lower valuation with cleaner terms. The headline number is only part of the picture.
What's included
A standard term sheet guidance engagement includes:
Clause-by-clause review
Every provision explained in plain language — what it means and why it's there.
Market benchmarking
Terms compared against current market norms for your stage and round size.
Control terms analysis
Board composition, protective provisions and reserved matters explained in practical terms.
Economic terms analysis
Liquidation preference, anti-dilution and participation rights, modelled for what they mean at exit.
Negotiation priorities
A clear view of what's worth pushing back on and what's standard, so you negotiate efficiently.
Founder briefing
A session walking through the full term sheet with you before you respond to the investor.
Term sheet in hand and want a second opinion before you respond?
Let's walk through it together — most rounds only get one real negotiation window.
How we guide you through your term sheet
1. Initial review
We read the term sheet in full and flag anything unusual or worth a closer look.
2. Clause-by-clause walkthrough
A session covering every material provision, in plain language, with market context.
3. Negotiation support
We help you prioritise what to negotiate and support you through the back-and-forth with the investor.
Initial review and walkthrough is typically completed within 2–3 days of receiving the term sheet, given negotiation windows are often short.
Get a clear, itemised quote.
Tell us about your business and we'll size up exactly what this service costs for you — no obligation.
Pricing
Pricing depends on term sheet complexity and how much ongoing negotiation support is needed. See our pricing page for indicative ranges, or get an exact, itemised quote in one call.
Frequently asked questions
Do you negotiate directly with the investor on my behalf?+
What if I've already signed the term sheet?+
How do you know what's 'market' for terms?+
Is this useful even for a small angel round?+
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A clear, clause-by-clause walkthrough before you respond.