Making European Venture Capital a Little More Human

TL;DR: Say goodbye forever to signaling risks, bloated Term Sheets and crazy Due Diligence checklists

Christoph Janz
May 13, 2018 · 7 min read
Image for post
Image for post
There was a time when there was more than a bit of truth in this picture.

1. We will do our pro-rata in your Series A, period.

Starting with our current fund (PNC IV) and with immediate effect, we will always do our full pro-rata in Series A rounds. If you raise a Seed round from Point Nine, you get a guarantee that we’ll also participate in your A round. There it is, our promise that’s signed, sealed and delivered. :)

2. Here’s our term sheet, ready to be signed.

A slide from a recent presentation.
Image for post
Image for post
Tilman, our General Counsel, at our last offsite. Simpler contracts mean that he can spend more time with his four kids.

3. Our simplified Due Diligence (DD) checklist

If you think that long contracts can cause founders a lot of pointless work, just wait until you’ve seen a 10-page DD questionnaire. :-) I’ve seen DD checklists in early-stage deals asking founders for a “description of all current research and development projects, including the current status of all projects and the number of man days to complete them”, “recommendation letters for all senior staff members”, “press clippings of the last 12 months” and dozens of other items.

Image for post
Image for post

Point Nine Land

Thoughts about SaaS, B2B marketplaces, venture capital, and occasional sneak peeks into P9’s kitchen

Christoph Janz

Written by

Internet entrepreneur turned angel investor turned micro VC. Managing Partner at http://t.co/5WJ3Pepbcv.

Point Nine Land

P9 is an early-stage VC focused on B2B SaaS and marketplaces. Point Nine Land is where the P9 team (and sometimes members of the wider P9 Family) share their thoughts on SaaS, marketplaces, startups, VC, and more.

Christoph Janz

Written by

Internet entrepreneur turned angel investor turned micro VC. Managing Partner at http://t.co/5WJ3Pepbcv.

Point Nine Land

P9 is an early-stage VC focused on B2B SaaS and marketplaces. Point Nine Land is where the P9 team (and sometimes members of the wider P9 Family) share their thoughts on SaaS, marketplaces, startups, VC, and more.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store