Signed Term Sheet In Hand...What Do You Tell The Other Vc Firms?
TheFunded.com Advice
Posted by Anonymous on 2008-04-17
Good news...Term sheet in hand...Series 'B', fair terms, great VC team...company & VCs are both very happy.
So, here's the question....while we have no thoughts that this will fall apart during due diligence...(Many meetings prior, everybody gets along, everybody on board and no skeletons in the closet)...we have multiple other interested parties that have started doing the 'due'...Any advice re: the best way to let the other VC's know we've signed a term sheet and at the same time keep the door open if something 'unexpected' happens.....
As an aside,...I've never seen it, but I'm curious...have any of you had a signed term sheet walked away from? Why?
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