For founders raising venture money
Understand the deal before you sign it.
Plain-English guides to term sheets, valuation, dilution and fundraising, written by Fabian Cisneros, a venture investor who has led term sheet negotiations on rounds from €3M to $18M.
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The option pool shuffle: the hidden cut in your valuation
Why where the option pool sits in a term sheet can quietly lower your real valuation, with worked numbers and how to…
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Raising money
Deal terms
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Valuation & dilution
After the raise
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Who writes this
Fabian Cisneros
Fabian has more than seven years of experience across venture capital, private equity and investment banking in Europe and Latin America. He has led investment processes and term sheet negotiations on rounds from €3M to $18M, and teaches venture capital and private equity at university level. He writes The VC Brief to show founders how investors actually think.






