Enhanced Model Term Sheet 2.0 Marks Largest Aggregate Analysis of Private Venture Deal Term Data
Aumni and National Venture Capital Association (NVCA) proudly announce a major update to NVCA's most popular model legal document: the term sheet. Since the inception of the Aumni and NVCA partnership in July 2020, the Enhanced Model Term Sheet has enabled investors to draft term sheets while comparing terms against market benchmarks. Aumni's AI-driven technology has been powering these benchmarks, based on anonymized venture financing data extracted from tens of thousands of executed legal agreements.
Aumni and NVCA are offering investors and entrepreneurs free access to the largest aggregate analysis of private venture deal term data conducted to date. Model term sheet users can now glean insights from more than 100,000 venture transactions, representing 40,000 investors with a combined network of over $1 trillion in assets under management.
Click here to learn more about the latest developments in this NVCA and Aumni initiative and the private capital market insights we’ve released. Or, please enjoy the details of our press release below.
New Enhanced Model Term Sheet v2.0
Over 100,000 venture transactions analyzed, giving investors and entrepreneurs unprecedented market insights and deal term benchmarking.
WASHINGTON, D.C. - June 2, 2021 - The National Venture Capital Association (NVCA) today released a new Enhanced Model Term Sheet v2.0, in partnership with Aumni, an investment analytics company. This update is the product of the largest aggregate analysis of private venture deal term data conducted to date. The Enhanced Model Term Sheet 2.0, which allows an investor to draft term sheets while comparing terms against market benchmarks, is powered by a database that now includes more than 100,000 venture transactions, representing over 40,000 investors with a combined network of over $1 trillion in assets under management. Version 2.0 can be downloaded for free by clicking here.
In July 2020, NVCA and Aumni partnered to provide extensive market insights into venture financings by extracting terms directly from tens of thousands of executed legal agreements. Leveraging anonymized and benchmarked data, NVCA and Aumni integrated term-specific analysis into the industry’s most popular model legal document: the term sheet. The result was the Enhanced Model Term Sheet v1.0, which detailed the usage and frequency of specific terms found in the model document.
The NVCA’s initial collaboration with Aumni offered the venture community access to data and insights at unprecedented depth and breadth. “With the new Enhanced Model Term Sheet v2.0, we’ve expanded the initial vision of our partnership by twofold,” said Jeff Farrah, General Counsel of the NVCA. “The Enhanced Model Term Sheet v2.0 will democratize access to key insights, helping venture investors as they partner with entrepreneurs to build new companies. With the significant growth in global VC investment, access to actionable analytics has never been more critical for the private market.”
“Due to the overwhelming, positive response from the venture community, including founders, investors, and many other stakeholders, we decided to nearly double the number of deal term insights in the new version 2.0,” said Kelsey Chase, co-founder, and president of Aumni. “We’re proud to elevate this offering with Aumni’s technology and human expertise and provide it to NVCA’s extensive network and the entire venture ecosystem as a whole.”
“Staying current with the latest market trends in deal-making is table stakes for venture firms,” said Abigail Johnson, chief operating officer at Sapphire Ventures. “The Enhanced Model Term Sheet v1.0 provided legal and economic insights that the industry has never seen before. Now with version 2.0, NVCA and Aumni are taking it to another level.”
To get started, users can visit https://nvca.org/model-legal-documents/ and download the Enhanced Model Term Sheet v2.0 for free. The Microsoft Word document contains hyperlinked deal terms that users can click to immediately view the market analysis for that term.
About National Venture Capital Association
The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.
About Aumni
Aumni is an investment analytics platform for private capital markets that include venture funds, family offices, university endowments, and corporate venture firms. By combining the best of A.I. and human expertise, Aumni’s platform extracts and analyzes critical deal data buried in dense legal agreements. In just a few clicks, Aumni provides comprehensive insights regarding every investment’s financial and legal position. Aumni has analyzed an unprecedented breadth and depth of private capital data representing investors with over $1 trillion in assets under management. With Aumni, investment leaders can make faster and more informed decisions in an ever-changing world. For more information about Aumni, please visit www.aumni.fund.
©2023 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC.
This material is not the product of J.P. Morgan’s Research Department. It is not a research report and is not intended as such. This material is provided for informational purposes only and is subject to change without notice. It is not intended as research, a recommendation, advice, offer or solicitation to buy or sell any financial product or service, or to be used in any way for evaluating the merits of participating in any transaction. Please consult your own advisors regarding legal, tax, accounting or any other aspects including suitability implications, for your particular circumstances or transactions. J.P. Morgan and its third-party suppliers disclaim any responsibility or liability whatsoever for the quality, fitness for a particular purpose, non-infringement, accuracy, currency or completeness of the information herein, and for any reliance on, or use of this material in any way. Any information or analysis in this material purporting to convey, summarize, or otherwise rely on data may be based on a sample or normalized set thereof. This material is provided on a confidential basis and may not be reproduced, redistributed or transmitted, in whole or in part, without the prior written consent of J.P. Morgan. Any unauthorized use is strictly prohibited. Any product names, company names and logos mentioned or included herein are trademarks or registered trademarks of their respective owners.
Aumni, Inc. (“Aumni”) is a wholly-owned subsidiary of JPMorgan Chase & Co. Access to the Aumni platform is subject to execution of an applicable platform agreement and order form and access will be granted by J.P. Morgan in its sole discretion. J.P. Morgan is the global brand name for JPMorgan Chase & Co. and its subsidiaries and affiliates worldwide. Aumni does not provide any accounting, regulatory, tax, insurance, investment, or legal advice. The recipient of any information provided by Aumni must make an independent assessment of any legal, credit, tax, insurance, regulatory and accounting issues with its own professional advisors in the context of its particular circumstances. Aumni is neither a broker-dealer nor a member of any exchanges or self-regulatory organizations.
383 Madison Ave, New York, NY 10017
