Considering Convertible Debt? Don't Sell Yourself Short

Editor's note:?Patricia Nakache is a general partner at Trinity Ventures where she invests in early stage social commerce and entertainment companies. The prevailing wisdom among entrepreneurs these days is that they should initially fund their startups with a $1-2 million convertible note.?? The logic is that raising a convertible note, even a capped one (as most are), is less dilutive, and perhaps faster, than raising a priced round from an institutional venture capital firm that typically seeks a minimum ownership level.? But in many cases founders are shocked at the dilution they suffer when, after having raised a convertible note, they raise their first priced round.? Too late, some realize they would have been better off skipping the note and raising a full series A right off the bat.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/G04Rcmul1Io/

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