Bridge Round Meaning: When a Bridge Makes Sense and How to Structure It
What a bridge round is, the difference between a bridge to somewhere and a bridge to nowhere, typical structures (notes, SAFEs, extensions) and how to pitch existing investors.
Angel rounds, SAFEs, valuations, term sheets and the paperwork in between. Written for founders who want to raise on sensible terms.
What a bridge round is, the difference between a bridge to somewhere and a bridge to nowhere, typical structures (notes, SAFEs, extensions) and how to pitch existing investors.
Typical seed-stage dilution, how to work out what to sell based on runway and milestones, and how to protect founder ownership across pre-seed, seed and Series A.
A step-by-step method for building a targeted investor list: where to find names, which fields to track, how to score fit and how to prioritise outreach before a raise.
Where angel investors actually come from, how to build a list of the right ones, and how to approach them so they reply. A practical playbook for first-time founders.
A practical guide to startup funding in Canada: angels, VCs, accelerators, government programs, SR&ED and IRAP, securities exemptions, and how to sequence it all.
Learn how to read a startup cap table: shares vs fully diluted ownership, option pools, SAFEs, preferred stock and how a new round changes everyone's percentage.
What to check before you pitch a venture capital firm: fund size and timing, the right partner, portfolio conflicts, decision process and founder references.
A simple investor update email template with examples: what to include, how often to send it, how to share bad news and how to turn updates into introductions and your next round.
How liquidation preferences work: 1x non-participating vs participating, multiples, seniority and stacking, with worked examples showing who gets paid what in an exit.
The main types of non-dilutive funding for startups compared: grants, R&D tax credits, government loans, revenue-based financing, venture debt, prizes, customer funding and more.
Post-money valuation = pre-money + new investment. Learn the formula, how to work out investor ownership and price per share, and how option pools and SAFEs change the result.
Comparable rounds, the scorecard method, Berkus, risk factor summation, VC method and cost-to-duplicate explained with examples, plus how to defend your number.
Pre-seed and seed rounds differ in who invests, what they expect to see, typical round sizes and how the money is used. Here is how to tell which one you are raising.
A clear comparison of SAFEs and convertible notes: interest, maturity, valuation caps, discounts, conversion maths, and when each one makes sense for founders and investors.
How Canada's SR&ED program works for startups: eligible work, qualifying costs, the enhanced refundable credit for CCPCs, documentation, deadlines and common mistakes.
The documents and questions to prepare before investor due diligence at seed: corporate records, cap table, IP, contracts, finances, team and product. Build a clean data room early.
One email a week. The notable rounds and deals, which companies just got money to spend, and one practical tip. Unsubscribe any time.