I Just emerged (at 04h00 in the morning) from an 18 - hour (!!!!) - bit of negotiation with two international VCs in one of the startups dw capital is invested in. We had the full program:
- the Lawyer pissing contest (pardon my french)
- the last-minute deal restructuring
- the last-minute battle over terms
- the nerve game on who gets to leave the table first (well not quite, but we did have a little theatre play)
- we used three rooms and a hallway to do all telcoing back to the principals
But now come the differences:
- a savvy founder who kept his nerve and outplayed the lawyers well (it always helps to just call the principal of the VC)
- and a really easy-going notary, funny on top of it
So it all ended
a) succesfully
b) even on friendly terms
c) and with two bottles of champagne….
I’ll get back to the audience on my findings out of the process. Still a lot to be learned, or remembered again at the very least.
Cheers!
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