Produced by W2D1 Media. Work with us →
Day One
ShowsTopic GuidesGlossaryQuotesAskSponsorsSearch Join the community
← Glossary
Deal Terms & Legal

Right of first refusal

Also: ROFR

The right to match an offer before shares can be sold to an outside buyer.

Why it matters

It gives the company and investors control over who joins the cap table, but can slow down a secondary sale.

Hear it from people who've done it

Get the real-world version of "Right of first refusal" drawn from hundreds of conversations with founders and investors.

Ask the Network →
Go deeper

Episodes on Venture Capital

M&A Is a Muscle: Alex Feldman on Buying & Selling in Chaos

First Cheque with Cheryl Mack & Maxine Minter · 17 June 2026

M&A Is a Muscle: Alex Feldman on Buying & Selling in Chaos
Taryn Pieterse of Rampersand — How a VC backs early-stage founders

Investment Thesis with Kali Norman · 12 June 2026

Taryn Pieterse of Rampersand — How a VC backs early-stage founders
Episode Five: Dan Coughlan's Investment Thesis

Investment Thesis with Kali Norman · 29 May 2026

Episode Five: Dan Coughlan's Investment Thesis
All Venture Capital episodes →
Related terms

Drag-along / tag-along

Drag-along lets a majority force others to join a sale; tag-along lets minorities join one on the same terms.

Secondary

A sale of existing shares (often founder or early-investor stock) rather than new shares issued by the company.

← Back to the full glossary

Produced by W2D1 Media

Want a show like this for your fund or company?

We're W2D1 Media — the team behind the Day One Network and Blackbird's Wild Hearts. We turn podcasts into trust, authority and pipeline.

Book a call →
—