I’ve sat across the table from enough founders at the Lagos Angel Network to know the shape of this conversation. A founder comes in having just been accepted to an accelerator programme — excited, relieved, already mentally spending the cheque. They want to talk about the mentors, the curriculum, the demo day. They do not want to talk about the term sheet. When I ask whether they have read the equity clause carefully, the pro-rata right, the follow-on provision, the answer is usually some version of: “Yes, I signed. It’s standard.” Standard is doing a lot of work in that…
Author: Joesph Afasinu
Joesph Afasinu
Joseph Afasinu is Business Operations lead at the Lagos Angel Network, where he works across angel investor development, deal structuring, and ecosystem building. He writes The Operator's Lens on Naijapreneur.com.