RippleX Fellowship: Online Course — Announcing Our Partnership with WSGR on Term Sheets

📢 Announcing the partnership

We are thrilled to announce a partnership with a renowned law firm, Wilson Sonsini Goodrich & Rosati (WSGR) as we embark on a mission to democratize learning and knowledge surrounding term sheets.

Wilson Sonsini Goodrich & Rosati is the premier legal advisor to technology, life sciences, and other growth enterprises worldwide. The firm represents companies at every stage of development, from entrepreneurial start-ups to multibillion-dollar global corporations, as well as venture firms, private equity firms, and investment banks that finance and advise them.

This collaboration brings together our expertise in innovative educational platforms with their unrivaled legal prowess, creating a groundbreaking initiative helping entrepreneurs and aspiring investors with accessible resources and insights to navigate the intricacies of term sheets with confidence. Together, we will unlock the doors to success and foster a more inclusive and informed business landscape for all.

This resource is 100% free, and accessible at any time, for anyone.

You can access the full course with the new term sheet module here: https://ripplexfellowship.thinkific.com/courses/public

♻️Refreshing the term sheet module

Together, we refreshed our term sheets module, specifically designed to educate and empower underserved founders and aspiring venture capitalists. Our founder and program manager Dominic Lau sat down with Bradley Doline, Of Counsel at WSGR to dive deep into each clause of a term sheet, equipping learners with a comprehensive understanding of its intricacies. From key provisions to critical negotiation points, we will leave no stone unturned. Leveraging WSGR’s extensive experience in the industry, we will shed light on market standard terms, ensuring our learners have the knowledge necessary to navigate term sheet negotiations with confidence and poise.

But this module is not just about theory; it’s about practical wisdom gained from real-world experiences. Drawing from insights across hundreds of deals, we will share personal anecdotes and learnings that provide invaluable context and guide learners through the complexities of the venture capital landscape.

Through this partnership, we are committed to democratizing access to vital knowledge, breaking down barriers, and empowering individuals who have historically been underrepresented in the startup ecosystem. Together with WSGR, we aim to foster a new generation of informed and savvy entrepreneurs and investors, poised for success in an ever-evolving world of term sheets.

📖What we cover in this module

• Valuation: Understanding pre-money valuation (the company’s worth before investment) and round size (the total amount of investment sought in a funding round).
• Stock Classes: Understanding the difference between common stock, typically owned by founders and employees, and preferred stock, often held by investors.
• Employee Stock Option Pool (ESOP): This is a pool of shares set aside to incentivize employees. It’s often created before a financing round to avoid diluting the round’s investors.
• Pro-Rata Rights: These rights allow investors to maintain their ownership percentage in future financing rounds by buying more shares.
• Reverse Vesting: This occurs when a company’s founders earn their equity over time, similar to how employees earn their stock options. This incentivizes founders to stay with the company for a set period.
• Reporting Requirements: These are obligations of the company to provide certain reports to the investors, such as annual financial statements.
• Information Rights: These are the rights of investors to receive regular updates about the company’s performance. These updates often include financial reports, budgets, and forecasts.
• Board Composition: This includes understanding who will have a seat on the company’s board of directors, which can be a point of negotiation in investment deals.

⭐RippleX Fellowship

The RippleX Fellowship is a 12-week program designed to coach students about the intricacies of startup building and venture capital. We connect students across North America with a common interest in becoming better equipped as founders and aspiring VCs. It builds the skillset, knowledge, and network that otherwise are rare to acquire as a student. The program is run remotely in three cohorts a year, and we intake roughly 20 fellows from North America in each cohort.

To date, we’ve successfully run 13 cohorts (4+ years and counting) of the flagship program and created an impact with over 325 alumni. Our underserved founders have collectively raised over $60M in funding from top-tier VC funds after the program, and we’ve personally helped over 60 underserved students land VC roles as well. Each cohort has an ethnic diversity of ~80% and a gender diversity of ~50%.

💻RippleX Fellowship Online Course

In January 2022, we launched the Ripplex Fellowship Online Course with a powerful mission to democratize access to our flagship fellowship program. Recognizing the importance of equal opportunity and global connectivity, we made the course available to anyone, anywhere, completely free of charge.

Through this groundbreaking initiative, we have been able to reach aspiring entrepreneurs and changemakers from over 30 countries, with more than 1300 students signing up to date. By breaking down geographical barriers and financial constraints, we have created a diverse and vibrant community of learners, fostering cross-cultural collaboration and knowledge sharing.

To ensure the highest quality of education, we have partnered with strategic allies like Wilson Sonsini Goodrich & Rosati (WSGR). Together, we have refreshed the original course content, infusing it with deeper insights and cutting-edge expertise. By working hand in hand with industry leaders, we are able to provide our students with an unparalleled learning experience that is both comprehensive and practical.

By opening our doors to the world and collaborating with strategic partners, we are making a tangible difference in the lives of individuals who may have previously lacked access to such opportunities. Together, we are shaping a future where talent knows no boundaries and where entrepreneurial dreams can flourish, irrespective of one’s background or location.

RippleX Fellowship

• Interested in expanding your knowledge with us? Start our free, public course today.
• Learn more about the RippleX Fellowship and stay tuned for Cohort 15 applications!
• Check out our Fellow Fund, where we invest $25–50K into student and first-time founders.
• Interested in becoming our next module sponsor? Connect here: https://airtable.com/shrhKh1uD85ZGEoBY

Wilson Sonsini Goodrich & Rosati (WSGR)

Wilson Sonsini Goodrich & Rosati is the premier legal advisor to technology, life sciences, and other growth enterprises worldwide. We represent companies at every stage of development, from entrepreneurial start-ups to multibillion-dollar global corporations, as well as the venture firms, private equity firms, and investment banks that finance and advise them.

The firm is nationally recognized as a leader in the fields of corporate governance and finance, mergers and acquisitions, private equity, securities litigation, employment law, intellectual property, and antitrust, among many other areas of law. Our distinguished international roster of clients spans a wide variety of industries, including information technology, life sciences, energy and clean technology, social and traditional media, communications, retail, and financial services.

WSGR Resources

1. Wilson Sonsini’s Digital Hub for Founders, Entrepreneurs, and VCs: https://ecp.wsgr.com/
2. Entrepreneurs Reports: https://ecp.wsgr.com/knowledgebank#reports
3. Term Sheet Generator: https://ecp.wsgr.com/generators/term-sheet-generator
4. Convertible Note Term Sheet Generator: https://ecp.wsgr.com/generators/convertible-note-term-sheet-generator
5. Neuron: https://ecp.wsgr.com/neuron