Venture capital glossary

94 terms a founder meets while raising — instruments, deal terms, fund mechanics, filings, exits — defined plainly. Where the database can speak, definitions carry live numbers.

Fundraising instruments

SAFE Convertible note Priced round Venture debt Warrant

Deal terms

Valuation cap Pre-money valuation Post-money valuation Pro rata rights Liquidation preference Participating preferred Anti-dilution protection Option pool Cap table Dilution Board seat Protective provisions Drag-along rights Tag-along rights Pay-to-play 409A valuation

The raise process

Term sheet No-shop clause Due diligence Data room Lead investor Syndicate Warm intro Cold outreach Bridge round Down round Flat round Inside round Party round Signaling risk Follow-on investment First check

Rounds & stages

Pre-seed Seed round Series A Series B Series C Growth stage

Investor types

General partner (GP)Limited partner (LP)Angel investor Solo GP Family office Corporate VC (CVC)Accelerator Venture studio Fund of funds Emerging manager Micro VC Crossover investor Scout

Fund mechanics & metrics

Carried interest Management fee Hurdle rate AUM Dry powder Vintage year IRR TVPI DPI RVPI MOIC J-curve Unicorn Burn rate Runway ARR Product-market fit

Regulatory & filings

Form D Rule 506(b)Rule 506(c)Accredited investor SPV Rolling fund QSBS 83(b) election Form ADV Form 13F S-1

Exits

Acquisition Acqui-hire Secondary sale IPO Direct listing SPAC Earnout Escrow Lock-up period Liquidation waterfall

Definitions are general information, not legal or tax advice. Live figures come from the database — see our methodology.