Let’s talk venture capital. When your company is fundraising, the legal team is going through an extended interview with potential investors. It’s an interesting dynamic – and what better way to explore it than a conversation between a CLO and an investor that have closed a round together? Watch this episode of Cockpit Counsel with Tim Parilla and Brady Broadbent, Partner at Sorenson Capital.
Key Takeaways
- How investors view their initial interactions with legal
- What they’re still evaluating during due diligence
- How to build the relationship between investors and legal
Timestamps
- 00:00 Introduction
- 00:41 What is your preflight ritual?
- 01:54 Tell me a little bit about your background? How did you find your way into the sciences?
- 03:00 How was it getting into the venture capital world?
- 04:03 When receiving a pitch from a company, what are some things that you look for in a deal?
- 07:05 At the term sheet stage, are you primarily working with in-house attorneys or are you working through outside counsel?
- 08:18 How do you interact and evaluate potential portfolio companies?
- 10:09 How does a lawyer’s approach to a negotiation affect your perception of the deal?
- 15:07 How do you approach lawyers after being on opposite sides of a negotiation? What are some things attorneys have done
- 17:53 How many of the companies that you invest in have an in-house legal function?
- 19:03 How much interaction do you have with hiring c-suite executives and chief legal officers?
- 20:44 As a board member, what are some insights that you can offer to attorneys to help understand your perspective?
- 28:33 How should an effective management team be utilizing the board?
- 32:19 Can you share a horror story from the boardroom?
- 34:15 What time management tips do you have for busy leaders?
- 35:33 What are your predictions for a 2023 in the VC world?
- 38:38 What is one of the best investments you’ve ever made?
