Venture Deals · glossary
Money paid now for shares that the next priced round will issue and price. It carries no interest, has no repayment date and is never repaid, so it is not a loan. Solaris’s three angels paid €500,000 this way, with a €3,000,000 cap and a 20% discount. Appendix 1, para 3 · Chapter 3
Explained in Chapter 3, SAFEs and Advance Subscriptions, of Venture Deals.
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