At our new venture fund, we’ve been spending time looking
into new ways that will make the lives of entrepreneurs seeking funding
easier. To that end, we've linked up with Ted Wang who has been
working on an open source legal project called the Series Seed
documents. We’re impressed with his work and are going to use these
standard funding documents as part of our seed stage investments
wherever appropriate.
We have to give a big shout out to Ted: he nailed this. It’s exactly in step with our intention of letting entrepreneurs focus on building businesses in today’s environment, without having to follow old VC rules.
In a nutshell, entrepreneurs and the businesses they are starting
have evolved. Start ups today don’t need to build a manufacturing plant
(as DEC, the very first high-tech VC investment, did in 1957) to start
a business. They need less money to build a product and prove that it
works before scaling the business. Yet, the paperwork involved in
funding entrepreneurs hasn’t changed to meet these needs. Series
Seed is the first to establish this new way of supporting funding
suited for today’s entrepreneurs – and we’re big fans.
To read the full, original article click on this link: How Angel Investing Is Different Than Venture Capital
Author: Ben Horowitz
