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XavierHelgesen's profile
Xavier Helgesen 🌎🌏🌍
Xavier Helgesen 🌎🌏🌍
Xavier Helgesen  🌎 🌏 🌍
@XavierHelgesen

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Xavier Helgesen  🌎 🌏 🌍

@XavierHelgesen

Co-CEO/Founder: Enduring Ventures, a Post-Modern Conglomerate. 🌲 Founder: ZOLA Electric, Better World Books, Better Cooking Co. 🌲Entrepreneurship/SMB/Climate

Oakland, CA
enduring.ventures
Joined February 2018

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    Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

    One of my mentors raised over $500 million and went public. He taught me one remarkable fundraising tactic: He wouldn’t accept term sheets. He only SENT term sheets TO VCs with a hard deadline. I raised over $100 million using the same technique. Step by step 🧵👇🏻👇🏻👇🏻

    5:17 PM - 20 Oct 2021
    • 767 Retweets
    • 4,378 Likes
    • Cameron Priest Jason L. Giles Jerry Harrison 😍 Samson Ojo Pierre A Fournier Aditya Nahar Minds Of Science Umair Shah satya kamdar
    87 replies 767 retweets 4,378 likes
      1. New conversation
      2. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        There are only two types of deals in venture capital: Hot deals and not hot deals. VCs change their posture DRAMATICALLY based on which they perceive a deal to be. A good VC will shiv their grandmother to get into a hot deal. Your goal is to project “hot deal” vibes.

        3 replies 14 retweets 219 likes
        Show this thread
      3. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        You are going to compress your fundraise into three weeks. Week 1 to set meetings. Week 2 to have meetings and send your term sheet that has only two lines blank. Week 3 to review your offers and sign.

        1 reply 7 retweets 133 likes
        Show this thread
      4. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        Week 1: Posture is key. “Hey Jill, hope you are well. We are raising our next round shortly and already have a ton of inbound demand. I am taking term sheets to my board on [Weds of Week 3]. My team and I will be available in [Week 2] for meetings. Want to take a look?”

        4 replies 8 retweets 137 likes
        Show this thread
      5. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        Week 2: Meetings. Don’t just dive into the pitch. Reiterate scarcity upfront and lay out the process: “To make things fair to our prior and future investors, we use a common term sheet. The only blank lines are the price per share and the dollar amount.”

        2 replies 11 retweets 133 likes
        Show this thread
      6. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        At the close of each meeting, let them know that you have a board meeting on Weds of Week 3. “For your offer to be considered, we need to have it by then. Can you do that?” Most VCs have partner meetings on Mondays where they can get approval to submit term sheets.

        1 reply 7 retweets 112 likes
        Show this thread
      7. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        If they insist on some changes to your (fair but entrepreneur friendly) term sheet, simply say: “if you don’t like the terms, just change the price.” The logic is inarguable, but they won’t actually change the price, as they know they are competing on price.

        1 reply 10 retweets 190 likes
        Show this thread
      8. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        Week 3: Negotiate and Sign. If you have done your job well, your board is looking at multiple term sheets. Now you have one more cycle to negotiate. e.g. “We want to work with you, but we are struggling with your valuation compared to others. Can you move any higher?”

        1 reply 6 retweets 94 likes
        Show this thread
      9. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        It is SO CRITICAL that you maintain the “hard to get” posture right until the end. You want your investor feeling as though they won a gladiator battle for the right to invest in the world-changing, visionary company YOU are building.

        1 reply 7 retweets 122 likes
        Show this thread
      10. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        Remember - this whole time, you may not actually be a hot startup (yet). But it is SO IMPORTANT that you act like it. The energy you project becomes your reality. My mentor had incredibly difficult funding rounds. But in the end, his investors all were glad they invested.

        3 replies 7 retweets 120 likes
        Show this thread
      11. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        When I share this technique, I get asked a lot for the term sheet I use. It is battle tested through many rounds (both mine and my friends’). I will open source it if this thread gets 100+ retweets, as I believe it is valuable for this to get out to more entrepreneurs.

        18 replies 65 retweets 221 likes
        Show this thread
      12. Xavier Helgesen  🌎 🌏 🌍‏ @XavierHelgesen 20 Oct 2021

        Xavier Helgesen  🌎 🌏 🌍 Retweeted Xavier Helgesen  🌎 🌏 🌍

        I set the bar too low!!! Hundreds of RT's and the night is young. Here is my term sheet as promised:https://twitter.com/XavierHelgesen/status/1451047960125526016?s=20 …

        Xavier Helgesen  🌎 🌏 🌍 added,

        Xavier Helgesen  🌎 🌏 🌍 @XavierHelgesen
        As promised in my previous thread, here are my standard term sheet and calculator. Disclaimer: I am not a lawyer. @UpCounsel has all the lawyers. Every entrepreneur should read my notes below before signing ANY term sheet. (Link to a public Google Drive at the end.)
        Show this thread
        9 replies 11 retweets 156 likes
        Show this thread
      13. End of conversation

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