Asset liability, extended lock-in, clawback clauses: VCs are making termsheets harder for startups
Synopsis
With several allegations of fraud triggering investor-led investigations, venture capital firms are laying down a set of pre-emptive conditions before wiring the greenbacks. In their eagerness to nip any kind of financial anomaly in the bud, they spare none, even the second-time founders.
Ashneer Grover taking out his lime green Porsche Cayman for a high adrenalin night drive on Delhi roads. Rahul Yadav whizzing past Bandra-Worli Sea Link in his Maybach on a drizzly weekend. And all this while investigations on potential financial fraud are underway in their startups. For founders of startups facing investigations over excessive and unexplained spending, such indulgences would not be easy if the new strictures that are being put
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