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This is a question for pg and anyone else who can chip in: I love the idea of a startup-controlled round and would definitely love to do my first round (coming

This is a question for pg and anyone else who can chip in: I love the idea of a startup-controlled round and would definitely love to do my first round (coming soon hopefully) this way but... how exactly do I go about setting something like this up? Is there somewhere that explains how to do this or do I have no recourse but retaining a lawyer who has experience with this sort of deal (which I don't have the money for right now). I'd love a nuts and bolts type answer if possible. Or is this process even possible (yet) for a startup founder to lead?

gojomo 16y ago
This recently-posted article has a lot of details: http://venturehacks.com/articles/no-lead http://venturehacks.com/articles/no-lead If you're going to take 10s to 100s of thousands of dollars from private investors, there's no getting around having a lawyer with experience in such deals.
- martygood 16y ago
  There's a great article on Private Money Lending Guide at the link below about working with attorneys on these types of deals. http://www.privatemoneylendingguide.com/investors/articles/hard-money-loans-and-attorneys-legal-counsel http://www.privatemoneylendingguide.com/investors/articles/h...
  - gojomo 16y ago
    That article appears to be generic SEO spablum with no relevance to angel investing/convertible debt. (For example, the word 'convertible' does not appear.) What's 'great' and relevant about it?
    - sachinag 16y ago
      I suppose you're unfamiliar with Venture Hacks - it's the accepted HOWTO bible for startup entrepreneurs navigating the funding battlefield. They also do Angel List, which is the most important innovation in startup funding since YC. So rather than downvote you, I wanted to explain why it's not SEO spam.
      - steveklabnik 16y ago
        You don't have showdead on, I guess. He's actually replying to a dead response by martygood, not the link by gojomo.
        gojomo 16y ago
        Indeed, gojomo is not accusing gojomo of posting spam. Nor is gojomo unaware of VentureHacks, as it was gojomo who recommended the VentureHacks link in the first place. On the other hand, gojomo has some pretty whack views, and rarely respects the HN taboo against frivolity. So he deserves a dressing-down every once in a while, and I don't care if he downvotes me for this opinion.
      - deleted 16y ago
        [deleted]

gojomo 16y ago

This recently-posted article has a lot of details: http://venturehacks.com/articles/no-lead http://venturehacks.com/articles/no-lead If you're going to take 10s to 100s of thousands of dollars from private investors, there's no getting around having a lawyer with experience in such deals.

martygood 16y ago
There's a great article on Private Money Lending Guide at the link below about working with attorneys on these types of deals. http://www.privatemoneylendingguide.com/investors/articles/hard-money-loans-and-attorneys-legal-counsel http://www.privatemoneylendingguide.com/investors/articles/h...
- gojomo 16y ago
  That article appears to be generic SEO spablum with no relevance to angel investing/convertible debt. (For example, the word 'convertible' does not appear.) What's 'great' and relevant about it?
  - sachinag 16y ago
    I suppose you're unfamiliar with Venture Hacks - it's the accepted HOWTO bible for startup entrepreneurs navigating the funding battlefield. They also do Angel List, which is the most important innovation in startup funding since YC. So rather than downvote you, I wanted to explain why it's not SEO spam.
    - steveklabnik 16y ago
      You don't have showdead on, I guess. He's actually replying to a dead response by martygood, not the link by gojomo.
      - gojomo 16y ago
        Indeed, gojomo is not accusing gojomo of posting spam. Nor is gojomo unaware of VentureHacks, as it was gojomo who recommended the VentureHacks link in the first place. On the other hand, gojomo has some pretty whack views, and rarely respects the HN taboo against frivolity. So he deserves a dressing-down every once in a while, and I don't care if he downvotes me for this opinion.
    - deleted 16y ago
      [deleted]