Enhanced Model Term Sheet

The most comprehensive market analytics on venture deal terms

Access hundreds of data points that detail the usage and frequency of deal terms embedded in the newest model term sheet template from NVCA and Aumni. 

Access market insights to venture deal terms

Download the Enhanced Model Term Sheet

Example deal term insights found in the Enhanced Model Term Sheet

Avg. fully diluted ownership % purchased by lead investor across stages
Frequency of Pay-to-Play Provision Across Stages
Median SAFE vs convertible note discount against the new money price per share

Additional deal term insights embedded in the Enhanced Model Term Sheet

Median Fully Diluted Ownership Percent Purchased by the New Money Equity Class Across Stages

Average Fully Diluted Ownership Percent Purchased by Lead Investor Across Stages

Average Percentage of Round Purchased by Lead Investor Across Stages

Median SAFE vs Convertible Note Discount Against the New Money Price Per Share (all Stages)

Median Convertible Security (All Types) Discount Against the New Money Price

Percentage of Equity Classes that Deviate from 1x Liquidation Preference Multiplier

Frequency of Participating Preferred Across stages

Frequency of Pay-to-Play Provision Across Stage

Frequency of Redemption Rights Across Stages

Median Lead Investor Counsel Fee Cap Across Stage

Frequency of Registration Rights Across Stages

Median Major Investor Threshold as a Percent of New Money in the Round Across Stage

Average Major Investor Threshold as a Percent of Fully Diluted Ownership Across Stages

Percentage of Equity Financings with Employee Vesting Protocol Covenant

Percentage of Equity Financings Including Drag Along Rights