Reviews
Here are some reviews of the current (2025) edition of our book:
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​​C​laudia
5.0 out of 5 stars A Helpful Guide for Anyone Navigating a Venture Round.
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I just finished Venture Capital Deal Terms, and found it to be a straightforward, useful book if you want to understand how VC deals actually come together. It walks through the whole process in a way that is easy to follow—from the basics of fundraising and rounds, all the way to a full sample term sheet and explanations of the main clauses you see in real deals.
What I liked is that it’s practical. The authors don’t overcomplicate things, and they focus on what actually matters in negotiations: keeping the structure simple, making sure different terms don’t conflict with each other, thinking ahead to future rounds, and understanding how things like liquidation preferences or anti-dilution will play out later. It’s clear they’ve seen enough deals to know where people get tripped up.
The case study and the templates in the back make it feel more like a reference guide you’d keep on your desk rather than a one-time read. If you’re raising money for the first time or just want a clearer sense of how VCs think about terms, this is a good one to go through.
Overall, very readable, very practical, and helpful without being overly technical.
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Gerry Vos | Chairman Atlanticum Advisors
5.0 out of 5 stars Venture Capital Deal Terms: A Guide to Negotiating and Structuring Venture Capital Transactions
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"Venture Capital Deal Terms" (2025 edition) delivers a clear and practical overview of how venture capital deals are structured, negotiated, and closed. VC investor Harm de Vries and lawyers Menno van Loon and Sjoerd Mol translate extensive deal experience into a guide that remains both informative and easy to read.
The book’s strength is its balanced perspective. It explains what investors aim for, how entrepreneurs can protect their interests, and illustrates key concepts with real-world examples. Core terms — valuation, milestones, liquidation preferences, anti-dilution protections, and drag-along rights — are described with simplicity and precision, making the content valuable for founders, investors, and advisors.
A notable highlight is the consistent emphasis on people. The authors remind the reader that VC deals depend as much on relationships and alignment as on legal structures, grounding the technical content in real human dynamics.
Overall, "Venture Capital Deal Terms" is a concise, accessible, and insightful guide — an excellent reference for anyone involved in early-stage financing.
Gerry Vos | Chairman Atlanticum Advisors
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5.0 out of 5 stars Clear and practical
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Clear, concise explanation with practical tips that are directly applicable in daily practice
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​Job Andreoli
5.0 out of 5 stars Hands-on insight into a challenging yet so important part of (gaining) venture investments
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Very impressive again Sjoerd, Harm and Menno, your book already made venture investment terms understandable and workable, and now with even more tips from practice, particularly helping non-legal individuals (like myself), further fills the void, thank you so much!
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5.0 out of 5 stars Finally a VC book that explains things simply
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I found this book surprisingly practical. Instead of drowning you in jargon, it walks you through a full fictional startup journey and explains every deal term right when it becomes relevant. The case study format made it much easier for me to understand how terms evolve from seed to IPO, and the tables and diagrams were genuinely helpful rather than decorative. If you’re a founder trying to demystify VC negotiations, this is one of the clearest and most usable guides I’ve come across.
5.0 out of 5 stars A must-have guide in the world of VC
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When I started working as a lawyer in venture capital, the first edition of this book really helped me understand the different concepts and how to use them to your advantage. But this book isn’t just for legal professionals. Far from it. It’s written in clear language with plenty of examples to make everything easier to grasp. Founders, investment managers, and anyone involved in venture capital will find it very useful. In my opinion, it’s a must-have!
5.0 out of 5 stars Guide for every VC deal
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What I especially appreciate is how incredibly concrete the book is. All the key deal terms are covered, each with clear examples and practical tips you can apply right away.
To me, this book is the “Dikke Van Dale” of venture capital: complete, reliable, and something you constantly find yourself returning to. Whether you’re a founder, investor, or advisor, it’s the kind of guide you’ll want to keep within arm’s reach
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5.0 out of 5 stars Helpful guide understanding VC deals
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This updated book is in my view a valuable resource for anyone raising or investing venture capital in Europe. It reads easily, is practically oriented, and quickly helps the reader grasp the main mechanisms and terms in VC deals. It proved to be is an ideal guide for initial negotiations and understanding both the entrepreneur’s and investor’s points of view. Thumbs up to the auteurs.
5.0 out of 5 stars Must have VC reference material
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The book is clearly explained and highly practical, making it an essential resource for any venture capital professional. The structure and depth provide exactly the kind of reference material that investors, founders and others interested in understanding and negotiating VC agreements can rely on. I find it a necessary and valuable guiding book for those individuals.
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Marcel visser
5.0 out of 5 stars Great read, well recommended for the starting entrepreneur as well as investor.
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My experience with venture capital in Asia (focus on south east Asia) makes this book a great read. I have been sitting at the table as investor as well as entrepreneur, reading this book gives a great coverage of the experiences I have had doing this in real life.
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2015 Edition of our book
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The previous edition of our book is ranked number 6 on Startup Savant's list of "Must-Read Books on Venture Capital". See https://startupsavant.com/best-startup-books/venture-capital
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Below you will find some reviews of the previous edition of our book on Amazon:​
5.0 out of 5 stars Very solid and concise book
Reviewed in the United States
This is a solid book and I like it a lot. It is very straight to the point, and its awesome conciseness is in sharp contrast with the other famous book in the area, the Venture Deals. Venture Deals adopts a more colloquial style of writing, which may have made it more approachable for new readers. I read Venture Deals before this one, and I believe Venture Deals offered me a good general understanding in this area, which probably enabled me to have a smooth reading journey of this Deal Terms. I think this Deal Terms book is very useful in consolidate and solidify the knowledge in this area. Thanks to its refreshing conciseness, it will also function very well as a reference book.
Uday Mehra
5.0 out of 5 stars Extremely comprehensive and commercially orientated
Reviewed in the United Kingdom
​Venture Capital Deal Terms is an excellent, easy-to-read guide to lead a novice through the key technicals of a VC investment. The authors analyse each term with a fine-tooth comb and offer well-written explanatory notes and helpful negotiating points and commercial amendments to assist those in the VC community when pursuing an investment. A must-read!
G. Zimmermann
5.0 out of 5 stars Klar und deutlich erklärt.
Reviewed in Germany
Das Buch ist sehr gut aufgebaut und geht auf die einzelnen Stationen bei VC ein.
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Andrés
5.0 out of 5 stars Muy buena guía para entender un termsheet y sus cláusulas
Reviewed in Spain
Buscaba un libro que me ayudara a comprender algunas cláusulas típicas en un termsheet. Este libro aborda con mucha claridad, a través de un caso práctico, las distintas cláusulas que se suelen encontrar en dicho documento. Está muy bien escrito, de una forma práctica y sirve como guía indispensable para ayudar en el proceso de firma de un termsheet. Estoy muy satisfecho con su compra y, por supuesto, lo recomiendo.
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Nic
5.0 out of 5 stars Very detailed
Reviewed in Italy
A really interesting reading, with lots of details.
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Be Happy
5.0 out of 5 stars Must read book
Reviewed in India
This book along with venture deals by Brad Feld are the only books on vc deal terms that you need to read to be smarter than your lawyer.
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5.0 out of 5 stars An excellent book for entrepreneurs and people interested in VC deals
Reviewed in the United States
​This book is very practical and well written, easy to understand. Highly recommend to entrepreneurs and anyone who wants to know more about how a VC deal is structured. The authors truly think for entrepreneurs. The book provides great insights on what terms are important and negotiation tips.
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Amazon Customer
5.0 out of 5 stars Great vade mecum on how to read/negotiate a term sheet in a VC deal
Reviewed in the United Kingdom
Everything you need to know if you were to raise money for your startup and negotiate a term sheet. Well written and very self explanatory.
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Reviewed in the United States
​A comprehensible guide in understanding the VC world. Subjects like frequently used deal terms, anti-dilution, drag and tag along and negotiations.
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Christopher
5.0 out of 5 stars Recommended reading for any (like myself) involved in the VC ...
Reviewed in the United Kingdom
​A one of a kind book, that really fits this niche market. Recommended reading for any (like myself) involved in the VC industry.
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5.0 out of 5 stars A must-read for investment and finance professionals working in the field
Reviewed in the United States
This is a commendable piece of work by the authors in bringing the facts relating to venture deals and how they are structured alive. It's quite comprehensive and acts on its own as a reference that one can read and re-read based on one's funding circumstance. The live examples and case study enhances the quality of presentation of facts and drives the point home for the reader in the most precise, succinct way. Definitely a must-read for investment and finance professionals working in the field.
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Robert Günther
5.0 out of 5 stars All you need to understand VC deal terms
Reviewed in Germany
Great read and the perfect introduction into the terms of a VC term sheet. Must have for everyone trying to tap into negotiating a VC deal.
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5.0 out of 5 stars Beyond the typical VC handbook
Reviewed in the United States
​Like the book a lot! To me this is a must read on understanding VC deal making. Goes much beyond the typical VC handbooks I have read!
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5.0 out of 5 stars Great handbook for understanding a VC termsheet
Reviewed in the United States
​Mandatory reading for any entrepreneur before entering into negotiations with a VC
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Reviewed in the United States
​Good Read on VC.
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5.0 out of 5 stars Great read !
Reviewed in the United States
​Great read with helpful tips & tricks on deal-making re venture capital transactions!
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5.0 out of 5 stars A must-have for anyone looking to complete a VC transaction
Reviewed in the United States
​The all new updated [first] edition of Venture Capital Deal Terms is indeed what it says in the subtitle: a guide to negotiating and structuring venture capital transactions. The book is comprehensive and manages to both give a clear overview of how VC deals are structured, as well as taking you through every single aspect of a term sheet. Using a case study the book gives an overview of the various stages a typical startup will go through on its way to becoming a mature company. It then gives an example of a term sheet and continues to explain each and every single term you could come across. Finally the book contains some templates you could use.
All in all a must-have for anyone looking to complete a VC transaction.​​​​​
