Topic
Venture capital
Posts on Venture capital from Walter Allison.
M&A Private equity Venture capital Offshore structures Cayman BVI Cross-border Fund formation Diligence Drafting Earnouts Regulatory Delaware AI tools RWI Secondaries All posts
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Anti-dilution, modeled
Compare broad-based weighted average and full ratchet anti-dilution outcomes when a down round triggers protection.
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A free multi-round cap table builder
The cap table that real founders actually use. Free. In your browser. No accounts, no data sent anywhere.
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Splitting founder equity with a model, not a fight
A weighted scoring tool that takes commitment, years, and capital contribution per founder and produces a starting-point equity split.
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SAFE conversion math, without the spreadsheet
A pocket SAFE conversion calculator for founders trying to figure out where they'll land after the next priced round.
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Where your founder shares actually go in a Series A
The pre-money option pool convention is where most founders lose more equity than they expected. A small tool to see it before signing.
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A better prompt for reading your term sheet
The term sheet decoder generates a structured AI prompt that produces a clause-by-clause walkthrough you can actually use.
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Reading a vesting schedule before you sign
Four years monthly with a one year cliff is industry standard. The implications of what that means month by month are not always obvious.
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Side letters in venture funds, in plain English
A side letter is whatever the LPA does not give you. Reading them well is half the job of LP counsel and most of the job of a fund admin.