The Exit Waterfall – Future Venture Pulse Venture Capital · Exit Mechanics · Founder Finance · LP Economics The exit waterfall: how acquisition proceeds flow to VCs and LPs Your company just sold for $50 million. Before you calculate what you’ll walk away with, you need to understand seven layers of claims that come before yours. Most founders learn this at the worst possible moment after the term sheet is signed. Henry Pham ~11 min read The acquisition number in the headline is almost never the number that matters. What… Read More
