What can you do if a vc pulls their term sheet? by Mark Suster

  • Source link: https://bothsidesofthetable.com/what-can-you-do-if-a-vc-pulls-their-term-sheet-3c0d48404f9
  • TL;DR: There isn’t really anything you can do about a VC pulling out of your term sheet, so just take your losses, try to learn from them, be a stand-up person, and privately warn entrepreneurs you know personally
  • How helpful?: 2/5 
  • Topic Tags: pulling out, term sheet, backing out
  • Relevant questions addressed:
  • What should I do if the VC that I’m working with backs out of our term sheet?
  • Summary bullet points
  • Term sheet is not a legally binding document
  • Don’t bad-mouth the VC
  • Warn other entrepreneurs you know personally 1-on-1 in private
    • Wait for a cooling off period
  • Follow up links