Insights and updates

From emerging regulation to deal mechanics, we write about the questions founders and investors actually ask — practical analysis you can put to work.

Tender Offer

A tender offer is a public bid made by an acquiring company or individual to purchase shares of a target company at a specified price, usually at a premium to the current market price, to gain control.

Ten Bagger

A ten bagger is an investment that increases in value tenfold (10×) from its original cost, a term coined by investor Peter Lynch to describe exceptional investment returns.

Syndicate Fund

A syndicate fund is a vehicle used to pool capital from multiple investors to co-invest in a specific deal, commonly structured as an SPV and often organized on platforms like AngelList to access investment opportunities.

Syndication

Syndication in venture capital refers to the practice of multiple investors co-investing in a single financing round, spreading risk and allowing larger deals to be completed by pooling capital from several sources.

Super Angel

A super angel is a high-volume angel investor who makes many small early-stage investments, typically investing more frequently and systematically than a traditional angel investor, often building a portfolio resembling a micro-VC fund.

Subsidiary

A subsidiary is a company controlled or owned by another company (the parent or holding company), either wholly or partially, maintaining its own legal identity and operations.

Strike Price

The strike price (also called exercise price) is the fixed price at which the holder of an option can buy (call) or sell (put) the underlying asset, determining whether the option is “in the money” or “out of the money.”

Side Letter

A side letter is a supplementary agreement entered into between a company (or seller) and a specific investor (or buyer) that grants that party rights, protections, or economic terms beyond those provided in the principal transaction documents.

Secondary Sale

A secondary sale is the transfer of private company shares from existing shareholders (founders, employees, early investors) directly to new investors, providing liquidity without the company raising new capital.

Roll Up

A roll-up strategy involves acquiring and merging multiple smaller companies in the same industry to create a larger, more efficient entity with greater market share and operational synergies.