The tweet was deleted by the author.
But we saved everything 🙂.
Founder requests higher term sheet and key introductions, Turner Novak notes
Turner Novak shared an anecdote about sending a founder a term sheet valued at $500,000 on a $10 million post-money valuation. The founder replied with a counter-demand to double the investment amount to $1.5 million, triple the valuation to $30 million, and requested introductions to prominent industry leaders. Novak commented that such high-level introductions are reserved for particularly competitive funding rounds.
Novak has previously shared insights on startup funding rounds and investment strategies. In an earlier post, he discussed Hanover Park's $27 million Series A and its AI-native approach. He has also commented on individual investor positions, including Sydney Sweeney's disclosure of a long Nvidia position ahead of earnings.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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