Agenda ⇽ Masterclass: Excellence In Negotiating Venture Capital & Private Equity Term Sheets | Singapore Venture & Private Capital Association (SVCA) on Glue Up

Wednesday, June 30, 2021 1:50^PM to 6:00^PM: 1:50^PM - 2:00^PM
REGISTRATION; 2:00^PM - 3:00^PM
ANATOMY OF A TERM SHEET
- Integrated View: Trade- off Between Terms
- Binding & Non-Binding Terms
- Confidentiality & Non-Disclosure Agreement
- Negotiating the NDA; 3:00^PM - 3:45^PM
THE ENVIRONMENT OF NEGOTIATION
- How many term sheets
- Building Trust: Who’s Interest, Who’s advice
- Structure of Term Sheets: Categories of Clauses; 3:45^PM - 4:00^PM
BREAK; 4:00^PM - 5:00^PM
DEAL PROTECTION TERMS
At Entry: Exclusivity
- Exclusivity Period
- At Exit: Right of First Refusal
- Case Study: Cerberus Capital Acquires a Japanese Bank; 5:00^PM - 6:00^PM
FOUNDER SHARES & EMPLOYEE STOCK OPTIONS
- Founder Lock-In
- How many Stock Options & Vesting Eligibility

Friday, July 2, 2021 1:50^PM to 6:00^PM: 1:50^PM - 2:00^PM
REGISTRATION; 2:00^PM - 2:55^PM
EXITS – PART I
- Put Option; Buybacks
- Negotiate a Put Option Clause
- Case Study: GIC investment in Square; 2:55^PM - 3:50^PM
EXITS – PART II
- Right- of- First- Refusal: A game-theoretic option
- Tag Along, Co-sale & Drag Along Clauses; 3:50^PM - 4:05^PM
BREAK; 4:05^PM - 5:05^PM
LIQUIDATION PREFERENCE
- Tricks & Traps of Liquidation Preference
- Analyzing Liquidation Preference
- Cost of Liquidation Preference; 5:05^PM - 6:00^PM
CHOICE OF INSTRUMENT
- Straight Equity, Voting Rights
- Convertible Preferred
- Convertible Bonds/Mezzanine Instruments
- Convertible Notes

Tuesday, July 6, 2021 1:50^PM to 6:00^PM: 1:50^PM - 2:00^PM
REGISTRATION; 2:00^PM - 3:00^PM
VALUATION OF START-UPS
- The VC Method
- The Valuation Clause; 3:00^PM - 4:00^PM
ANTI-DILUTION
- Types of Anti-Dilution
- Types of Ratchets
- Negotiating Ratchets; 4:00^PM - 4:15^PM
BREAK; 4:15^PM - 5:15^PM
MANAGEMENT & CONTROL RIGHTS
- Shareholder Approvals Board Approvals
- Negotiating Management Control Rights
- Case Study: Alibaba, Uber, FB; 5:15^PM - 6:00^PM
KEY CONSIDERATIONS
Subsequent Rounds

Friday, July 9, 2021 1:15^PM to 6:30^PM: 1:15^PM - 1:30^PM
REGISTRATION; 1:30^PM - 3:00^PM
COMMON TERMS/PRACTICES IN SE ASIA PE/VC DEALS
- Venture Capital Investment Model Agreements (VIMA)
- Using Singapore as a holding company for Investments
- Preferential Shares in regional deals
- Enforceable Rights
- Case Studies; 3:00^PM - 3:15^PM
BREAK; 3:15^PM - 4:15^PM
NEGOTIATION GAME: PART I
Term Sheet Preparation; 4:15^PM - 5:15^PM
NEGOTIATION GAME – PART II
Term Sheet Negotiation; 5:15^PM - 6:30^PM
NEGOTIATION GAME – PART III
Team Presentations

Agenda