Financing the Tech Start-up


Course Date: April 25, 2018

Total: 5h 44min

Welcome and Introduction 

Early Stage 

  • the importance of setting up properly
  • founder's shares — dividing the equity and reverse vesting arrangements
  • considering a stock option plan to incentivize employees and management
  • share structures
  • key initial agreements to facilitate a smoother financing down the road

Geoff Pedlow — Fasken Martineau DuMoulin LLP, Vancouver

First Financing — Avoiding the Devil in Your Angel Round 

  • SAFE v. note v. equity
  • valuation question

Brock H. Smith — Whiteboard Law Corporation, Vancouver

Break

Tax Programs — EBC, CCPC 

  • benefits of being an Eligible Business Corporation
  • benefits of being a Canadian Controlled Private Corporation
  • qualifying activities and main requirements to register as an EBC

Manveer Bisla — Fasken Martineau DuMoulin LLP, Vancouver

Beyond the Bank — Early Stage Debt Financing Options 

  • traditional bank financing
  • SaaS or other recurring revenue based lending
  • venture debt
  • dilutive v. non-dilutive debt
  • do you need assets?

Martha Martindale — Osler, Hoskin & Harcourt LLP, Vancouver 
Rob Ockeloen — Director, Growth & Transition Capital BC, Business Development Bank of Canada, Vancouver
Greg Smith — Chief Investment Officer, TIMIA Capital Corporation, Vancouver

Networking Lunch

Series A Financing

  • sample term sheet
  • review of key terms, including share rights, subscription agreement, and shareholders' agreement
  • negotiation points

Prentice W. Durbin — Harper Grey LLP, Vancouver
Justin D. Young — Osler, Hoskin & Harcourt LLP, Vancouver

Break

Series A Financing (Cont.) 

  • sample closing agenda
  • issues that arise in closing

David Ford — Clark Wilson LLP, Vancouver

Post Series A Financing 

  • what's different in later rounds
  • US investors — issues to consider
  • preparing for M & A

James Smith — LaBarge Weinstein LLP, Vancouver 

Closing Remarks