Tilman LangerinPoint Nine LandVenture debt — no longer a no-brainerVenture debt is a boon for fast growing startups. With annual total costs (fees, interest and a potential equity kicker) rarely exceeding…9 min read·Jan 25, 2024----
Tilman LangerinPoint Nine LandCoping with Down RoundsTimes for VC fundraising are tough. Led by a decline in listed stocks, the private markets have equally been caught by bearish investor…10 min read·May 23, 2023----
Tilman LangerinPoint Nine LandW&I Insurance — the M&A Carefree Package?Once there is agreement on basic commercial terms, warranties and indemnities often turn into the biggest stumbling block (and nerve…11 min read·Dec 14, 2022----
Tilman LangerinPoint Nine LandSlippery when wet: Secondary salesAt Point Nine, we are always in it for the long run :) When we invest, we are betting that a company can become very large and eventually…6 min read·Jun 7, 2022--1--1
Tilman LangerinPoint Nine LandAnti-dilution: the unloved childThere are few provisions in venture financing agreements that are more complicated than anti-dilution clauses. In contrast the rationale is…9 min read·Dec 9, 2021----
Tilman LangerinPoint Nine LandESOP: The burden with “burden bearing”It’s common in early-stage (seed) funding rounds that a certain percentage of the post-financing capitalisation is reserved for employees…5 min read·May 10, 2021--1--1
Tilman LangerinPoint Nine LandEmployee Incentive Schemes: The good, the bad and the greyEmployee incentive schemes, often also referred to as employee share option plans (ESOP), can be tricky. Besides the company’s…9 min read·Nov 25, 2020----
Tilman LangerinPoint Nine LandSeed funding terms — it’s the upside, stupid!At Point Nine, when wrapping up the legal side of a seed round, we focus quite keenly on a small number of contractual terms while we’re…7 min read·May 20, 2020----
Tilman LangerConvertible Loans: What to Look out ForIt probably happens to most founders at least once: His or her company needs money quickly and there is an interested investor, but there…9 min read·Nov 20, 2019----
Tilman LangerinPoint Nine LandConvertible Loans: What to Look out ForIt probably happens to most founders at least once: His or her company needs money quickly and there is an interested investor, but there…9 min read·Nov 20, 2019--2--2