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Singapore team members Chris and Sarah recently spoke to the latest group of founders from global company builder Entrepreneur First.  In the presentation and Q&A session, we talked about how to raise money using convertible notes and how to set up an ESOP for the first time.  The speed at which the teams are starting to receive funding offers and take on key employees meant that both subjects were already front of mind for many in the audience.

Started in the UK, Entrepreneur First’s expansion into Singapore is a fantastic addition to the tech startup scene.  Having such a well known brand associated with the companies is a real win for them when looking for early stage capital.

The quality of questions at the session was top-notch, especially around the use of valuation caps with convertible notes and the importance of getting the size of the ESOP pool right when dealing with investors.

A copy of the slide deck from the presentation is available to download here and includes the following topics:

  • when to use convertible notes
  • basic conversion mechanics
  • common negotiating points on convertible notes
  • what is an ESOP, when should a company get one, and how big should it be?
  • the use of options vs shares to incentivise your employees
  • the main variables to consider when setting up an ESOP

We also pointed the Entrepreneur First teams towards our free KISS convertible note doc maker and our ESOP rules doc maker.  These resources are getting a lot of traction with founders in Southeast Asia who are looking for a big head start on their legals, saving time and money for getting on with the scaling of their startups as quickly as possible!

A big thanks to Elise and Nicolette at Entrepreneur First for giving us the opportunity to get involved!

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