Terms & Cap Table (Stub)

This document will capture the target terms posture and cap table planning for upcoming rounds. Objective: Align investor fit with a disciplined plan that preserves option value.

Sources

• archive/AI_Wallet_Topical_Threads/YC-VCMarket-ExposureRisks-05Nov25-ChatGPTPlus.pdf
• docs/07-fundraising/investor-outreach.md

Next Actions

• Define guardrails for pre-seed and seed instruments (memo draft).
• Outline ownership targets and hiring runway implications.
• Prepare cap table scenarios and dilution sensitivities.

Suggested Sections

• Round objectives and instrument
• Target ownership and reserves
• Pro-rata and follow-on
• Scenario analysis and sensitivities
• Governance and information rights
• Open questions and decisions