Corporate

This 120-page, 6×9 lined notebook works perfectly as a gift for that Wall Street Wannabee in your life! Everyone will love this sarcastic, funny design.

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Packed with advice on getting YOUR project financed, and backed with the author’s three decades experience as a project finance intermediary and direct financier. This book is now the Official Project Finance Exchange (PFX) User Guide

Most importantly it describes in detail how the Project Plan (PP) should be assembled and structured, and linked to its associated files in the project’s Dropbox folders. It presents how long-established, but time-consuming and expensive traditional finance raising tasks have been fully integrated into PFX and how the primary task of connecting finance raisers with financiers is now a streamlined, structured and pain-free process through PFX.

Ch1: History and Introduction
The essential backgrounder. Starting with the Eurodollar bond market in the 1960’s through the ascendance of investment banks, private equity, hedge and alternative investment funds to the present day dominated by private capital channelled through all those above plus asset managers, wealth managers, mandated lenders, corporate investors and family offices; Defining institutional and private capital; How research, data and comment from Wealth-X, McKinsey, Campden Wealth, Cap-Gemini (World Wealth Report), The Economist and others provide the basis for a global project finance capital market valuation of a minimum $2 trillion (updated in 2023 to $9tn).

Ch2: Welcome to the Maze
The dreaded ‘broker chain’; Scams and frauds; How to spot ‘joker brokers’; Why it is best to avoid people you already know to assist in your finance raising.

Ch3: What is ‘Shovel Ready’?
How to make any financier roll their eyes, tell them your project is ‘shovel ready’; Definition of ‘project finance’; Detailed presentation of what makes a project ‘submission ready’ and how only the investor and their counterparties can declare a project ‘shovel ready’.

Ch4: The Project Plan (PP)
How to assemble and present this critical document; Organising your Dropbox/data-room folders; Supporting documentation (contracts, permits etc)

Ch5: The Executive Summary (ES) and Submission
Just as vital as the PP; How the ES is part auto-filled for you by PFX; Keeping it short; Condensing information from the PP; PFX financiers request your ES direct from your elevator pitch.

Ch6: Financing Structures
How there are probably as many financing structures as there are financiers; Conditions precedent; Tranches; Security; Default events and other fundamentals of what to expect in your Terms Sheet.

Ch7: Financier Types and How to Find Them
Defining asset managers; Alternative investment funds; Corporate investors; Hedge funds; Mandated lenders; Multi-/single-family offices; Private banks; Private equity and debt funds; Wealth managers, etc.; All are registered PFX Financiers.

Ch8: Fifteen Ways to Lose Your Financier
Fifteen errors made by project sponsors that have brought discussions and negotiations to a premature end.

Ch9: Engagement and Protocols
Final terms sheet; The close; Post-close reporting.

Ch10: Arbitrage Trading
How the PFX Trade Desk can help you leverage your available cash into higher equity in your project, making it more attractive to debt investors. And how investors can use arbitrage trading to rapidly grow their investable capital reserve.

Ch11: The Project Finance Exchange(PFX)
Introduction; Raising project finance; Financiers; Intermediaries. How PFX is introducing structure and standards into the global project finance market.

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You need to know what you’re talking about. Not just on a basic level. On every level. You need to understand the ins and outs of the deal. What are your options? How exactly can they impact you, now as well as in the future? What are the people on the “other side of the table” aiming for? What are the pitfalls?

Only if you truly understand the deal, will you be able to come to the best possible deal. And to truly understand the deal, you need to understand the deal from the perspective of both the investor and the entrepreneur.

This new book of VC investor Harm de Vries and VC lawyers Menno van Loon and Sjoerd Mol, provides an in-depth practical look into venture capital deals. Together, the authors have been involved in hundreds of VC deals. Their expertise covers both the investor’s perspective and the entrepreneur’s perspective.

The book shows you how deal terms work out in practice and explains the economics behind the deal terms. And – crucially – it does so both from the point of view of the entrepreneur as well as that of the investor.

The book starts with an introduction of the investment process in general and the different stages of financing. Next, the book introduces a case study of a Series A financing of a startup. A Series A term sheet is used as the basis for the discussion of the different clauses used in venture capital transactions. Each subsequent chapter discusses a certain type of clause in the term sheet (e.g. milestone investments, liquidation preference, anti-dilution protection, and drag along). These chapters also include a standard (and, if applicable, alternative) version(s) of the relevant clause.

The book includes many examples, as well as negotiation tips for both entrepreneurs and investors. The result is an extremely practical guide to venture capital deals, which will be invaluable to anyone involved in venture capital transactions – investors, entrepreneurs and advisors.

For more information on this book and its authors, please see the book’s website: www.venturecapitaldealterms.com. The special VC Term Sheet Template contained in the book can be downloaded (for free) from the aforementioned website.

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