08-25-2021, 11:47 PM
VC covenants
submitted by /u/skroope
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How much can you safely escape location-based reqs for your startup?
Some seed VCs have location based terms. Like “we only fund startups based in Alabama.”
Ok, so what if we just have a small office in Alabama for our seed round, work remotely, move our HQ to Miami/Austin/SF for our series A, and then happily ever after?
What are they gonna do about it? Especially if the company gets big. They think they have any power over a multibillionaire founder, especially if the issue is HQ-ing the company in Podunk, USA, where probably no one wants to work?
Mind advising?
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