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ANGEL-INVESTING4 MIN READ

Term-Sheet Battlecards

Use quick negotiation references to handle term-sheet pressure without overreacting.

Cap pressure Founder: "We cannot change the cap; everyone else accepted it." You care about risk-adjusted entry price, but the founder cares about momentum and consistency. Your line I understand keeping the headline consistent. My concern is risk protection. Is there another clean term that solves that without reopening the round? Do not argue with "everyone else." Translate your concern into an interest. It searches for ZOPA instead of turning the cap into a status contest. BATNA check Before you accept a term you dislike, compare these two thoughts. BATNA gives scarcity something real to compete against. Reservation point What…

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