The document discusses the process of fundraising for startups. It outlines the typical steps a startup goes through to secure a term sheet, including preparing a pitch deck, identifying target investors, doing initial meetings, conducting due diligence, presenting to all partners, negotiating terms, and closing the deal. It provides timelines and tips for fundraising successfully, noting it often takes longer nowadays and startups need to show early traction and revenue. The document also warns of common pitfalls that can derail fundraising like overstating opportunity size or underestimating competition.

1. Nov. 5, 2009 Perspectives on the Term Sheet www.startupcfo.ca

2. THE GOOD OLD DAYS (?)… Copyright © 2009 – StartupCFO Enterprises Inc.

3. NOW Copyright © 2009 – StartupCFO Enterprises Inc.

4. THE PATH TO A TERM SHEET Copyright © 2009 – StartupCFO Enterprises Inc. Image: http://www.flickr.com/photos/philwirks/2219686874/

5. The Process Copyright © 2009 – StartupCFO Enterprises Inc. New Deal Received Deal Team Formed (Sponsor + 1) Interesting + Fit? Deal Memo to Partners Company Presents to Partners Questions Raised Due Diligence Company Meetings + Term Sheet Investment Memo Investment Decision Legals & Cash Out NO: feedback to company + deal tracking YES Interesting YES NO: feedback to company + deal tracking NO: feedback to company + deal tracking YES YES