LIVE REPLAY: Roadmap of Venture Capital and Angel Funding, Part 2



  • Presentation Date 10/22/2020
  • Next Class Time 10:00 AM PT
  • Duration 60 min.
  • Format Audio Webcast
  • Program Code 07162020c
  • MCLE Credits 1 + hours

Course Price: $65.00


Rapidly growing companies often raise capital in “angel” or venture capital transactions.  Investors provide capital in exchange for carefully structured equity rights and frequently some form of governance rights. Investors also often provide the company with industry expertise, contacts, and access that may be as valuable as financial capital. These funding transactions can take a startup or more mature company to higher levels of growth. But they are complex transactions that can involve a dozen or more interrelated documents. This program will provide you with a practical guide to the stages and documentation of an angel or venture capital transaction.

Day 1:

  • Current state of angel and venture capital markets & trends in deal terms
  • Review of the suite of documents involved in most funding deals
  • Methods of valuation and their impact on successive stages of investment
  • Reviewing or drafting terms sheets – pitfalls and opportunities
  • Angel investing – equity v. debt, common terms, impact on later venture capital funding


Day 2:

  • Review of most highly negotiated terms in funding deals
  • Investor protections – information  & veto rights, liquidity event rights
  • Liquidation preferences, anti-dilution rights, and dividends
  • Striking the right balance between founders/managers and investors on the board
  • Options pools for founders, managers and employees



James C. T. Linfield is a partner in the Broomfield, Colorado office of Cooley, LLP.  His practice focuses on representation of public and private technology companies and venture capital funds, with an emphasis on corporate finance, mergers and acquisitions and strategic alliances. He has deep experience advising start-ups, venture-backed companies, public entities and investors across a wide variety of industries, including biotechnology, medical devices.  Earlier in his career, he served as Chief Financial Officer and General Counsel of a biotechnology company.  He is a member of the board of directors of the Deming Center for Entrepreneurship at the University of Colorado.  Mr. Linfield earned his A.B., magna cum laude, from Harvard College and his J.D., magna cum laude, from Harvard Law School.