Lead investor
The investor who sets the terms and price of a round and usually takes the biggest cheque.
Landing a credible lead is the hard part of a raise — others follow a lead far more readily than they start a round.
Hear it from people who've done it
Get the real-world version of "Lead investor" drawn from hundreds of conversations with founders and investors.
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Term sheet
A short, mostly non-binding document setting out the key terms of an investment before the long-form legals.
Priced round
A raise where you agree a valuation and issue shares at that price, as opposed to a note or SAFE.
Series A, B, C…
Successive priced rounds named alphabetically — each one funds a new stage of scaling.
Angel investor
An individual investing their own money into early startups, often ex-founders or operators.
Conviction
How strongly an investor believes in a deal — enough to lead, price it and defend it internally.
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