A Throwback to the Term Sheet of a Venture Capital Investor

The term sheet is used as the canonical moment in time when an investor indicates they want to invest in a company. Term sheets predate definitive agreements, not only for financing but also for m and a events. The first term sheet was just a letter of interest; now it's been way winnowed back down. "I feel like this is part of the pendulum swinging back in favor of start ups"