9Do We Need All These Lawyers?
Antoine Papiernik, partner with Sofinnova, referred to the “nightmare” of legal documents with series A, B, C, and D:
Living with a legacy of legal documents from series A, B, C, D, and often E and beyond becomes a nightmare to keep track of. Inevitably, some legal term or clause you thought was insignificant can become extremely important. The more VCs involved, the harder it becomes to get clarity on the legal aspects.
At The Founders Club we often find mistakes in the cap tables of VC-backed companies. Friends of mine run a cool company that fixes this. All-Rounds (http://allrounds.com) enables CFOs, VCs, lawyers, and accountants to input cap table info into something like TurboTax. The program just spits out ...
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