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Afore Capital
$124M venture fund focused on Pre-Seed companies. Founded by &
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Afore Capital 4. velj
Congrats on the Series B! Honored to be a part of your mission to accelerate drug discovery.
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Afore Capital 30. sij
Odgovor korisniku/ci @AforeVC
11/ The pro rata pizza party, in which everyone is vying for their slice, is changing. What do you think? Let us know by commenting on our post here:
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Afore Capital 30. sij
Odgovor korisniku/ci @mvernal @sequoia
10/ "In most cases, if I were a founder," of . "I would want to use each investment round as a way to thank those who have been helpful so far and create alignment with those who will be most impactful in the future."
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Afore Capital 30. sij
Odgovor korisniku/ci @hunterwalk @homebrew
9/ Likewise, investors need to be aware that sometimes, their pro rata option needs to be waived. "There may be stages of the company where making all the puzzle pieces fit in a funding require some creativity," explains of .
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Afore Capital 30. sij
Odgovor korisniku/ci @mvernal @sequoia
8/ at puts it best: "It's your company and the cap table is one of the most important tools you have at your disposal for aligning the interests of founders, investors, employees, and advisors."
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Afore Capital 30. sij
Odgovor korisniku/ci @AforeVC
7/ There's drawbacks to yanking pro rata: it can cause founders to suffer reputational damage, and potentially cause issues with future fundraising.
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Afore Capital 30. sij
Odgovor korisniku/ci @semil @haystackvc
6/ Why? Because what's given can be taken away. "As newer investors come in with their own requirements and the cap table gets crowded, founders will oftentimes ask earlier investors to waive their pro rata rights for the good of the company," says of .
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Afore Capital 30. sij
Odgovor korisniku/ci @garrytan @InitializedCap
5/ "The best investors earn pro rata by adding value to the company in ways besides capital," says of . And by earning that privilege, investors actually help protect themselves.
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Afore Capital 30. sij
Odgovor korisniku/ci @AforeVC
4/ With the advent of angels and pre-seed, though, more and more investors are being granted pro rata, setting up complicated cap tables and leading to potential future showdowns between founders and their earliest supporters.
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Afore Capital 30. sij
Odgovor korisniku/ci @AforeVC
3/ Think of it like ordering pizza for a party when you don't know how many people might ultimately be coming. Pro rata is a way for you to retain your share of cheese and pepperoni, even if more friends show up later.
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Afore Capital 30. sij
Odgovor korisniku/ci @AforeVC
2/ So what is pro rata? Basically, it's an option, not an obligation, granted to investors to maintain their ownership percentage in a company through future fund-raising rounds.
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Afore Capital 30. sij
1/ There's a lot of confusion out there about pro rata, which is probably one of the most misunderstood terms in the VC term-sheet. So here's a primer.
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Afore Capital 24. sij
Super cool portfolio gift we received at . Thank you . Let’s play!
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Afore Capital proslijedio/la je tweet
Afore Capital 22. sij
Exciting new full-time role at . Join our nimble, fast moving, SF based team, as our first Operations Associate. You can help us build a venture platform from the ground up
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Afore Capital 22. sij
Exciting new full-time role at . Join our nimble, fast moving, SF based team, as our first Operations Associate. You can help us build a venture platform from the ground up
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Afore Capital 15. sij
It is one of venture’s biggest privileges when you get a chance to invest in a company with an exceptional team, product and mission, all in one package. Congrats on the Series B! Here's why we invested at the pre-seed:
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Afore Capital 15. sij
Congrats on the Series B! Stoked to be a small part of your incredible mission to bring mental and emotional support to everyone!
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Afore Capital 7. sij
Odgovor korisniku/ci @HarryStebbings @twentyminutevc
For the full conversation, checkout his interview with of
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Afore Capital 7. sij
Odgovor korisniku/ci @AforeVC
3) We look for companies with **unique product insights + a novel distribution approach** Others say pre-seed is a bet, but we don’t believe that this is game of roulette. Bc companies we invest in may not yet have traction in data, but they always have a lot traction in thought.
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Afore Capital 7. sij
Odgovor korisniku/ci @AforeVC
2) We look for founders that are **maniacally focused** People who know more about this market than ones who have been in the industry for decades. Founders that have the high clock speed necessary to move things to the next level, and will continue to learn and iterate
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