Boulder Startup Week 2026
7 Decisions that Compound Before Your Seed Round
LOI vs. Term Sheet — The Short Answer
A Letter of Intent (“LOI”) is a generally non-binding high-level memorialization that someone wants to do a deal - common in M&A and investments. A Term Sheet is a more detailed outline of the actual terms: price, timing, valuation, management, board, vesting.
Capitalization Starts on Day One. Not at Your Seed Round.
Most founders treat the cap table as something to figure out when investors show up. But by then, the equity split is set, the SAFEs are signed, the vesting is (or isn’t) in place, and you’re negotiating from whatever position those earlier choices left you in. Every decision made is leverage you either keep or give away.
