Board member · Term sheet

A billionaire is interested in my early stage company. Should I offer a Term Sheet or a Board Seat?


December 7th, 2017

My venture is in a niche but lucrative space. After partnering with a F500, I got in touch with a billionaire who knows the space well and whose company's alesforce could be a powerful tool for us. I asked him to consider 1. Letting me leverage his salesforce; 2. A strategic investment; 3. A Board seat. He said he's open to all 3.

I had a good meeting today with his company's innovation arm about leveraging the salesforce. I'm going to email the billionaire to thank him, and will remind him of my other two requests. Would I be better attaching a Term Sheet with a line about the Board Seat, or an offer for a Board Seat with a line about the terms of the raise?

Sterlin Refinery LLC CEO, Founder

December 9th, 2017