#startups
7 articles found
Convertible Notes and SAFEs: Caps, Discounts, and the Dilution Math Founders Miss
How convertible notes and SAFEs convert, worked cap and discount math, stacked SAFE dilution, the liquidation preference problem, and 2026 market terms.
Royalty-Based Financing: Long-Term Royalty Deals Versus Selling Equity
Long-horizon royalty financing: tiered, capped, and perpetual deals, biopharma and franchise examples, GAAP treatment, and cost against equity.
R&D Tax Credits: Strategic Business Savings
The 2025 law restored R&D expensing. How the Section 41 credit works, ASC vs regular math, the $500,000 payroll offset, and 2026 Form 6765 rules.
How to Become an Angel Investor in 2026: Eligibility, Deal Terms, Portfolio Math, and Taxes
Angel investing in 2026: who qualifies, SAFEs vs. notes vs. priced rounds, dilution and pro-rata math, how many checks you need, and QSBS and loss rules.
Revenue-Based Financing: Repayment Caps, Real APRs, and Disclosure Rules
How revenue-based financing works: cap and revenue share, why the effective APR climbs when you grow faster, how it compares with loans, and disclosure laws.
Business Valuation Methods: DCF, Comparable Companies, SDE Multiples, and 409A Valuations
How DCF, trading comps, precedent deals, and SDE multiples value a company, with a worked DCF at a 5.24% Treasury yield, a WACC table, and 409A rules.
Venture Capital Funds Explained: 2 and 20, the Power Law, LP Access, and What the 2026 Numbers Show
How a venture fund works for LPs: fees, reserves, the J-curve, what one outlier must return, 2026 Venture Monitor data, and term sheet points for founders.