Trey Calver @ Michael Best on Term Sheets, Legalities of Early Stage Venture, Company Formation, Investing Overseas, & Resiliency in VC
“Generally I’d say if you’re still just figuring it out or playing around, an LLC is super flexible and cheap. But if you’re ready to raise capital, you’re serious about it, and you’re ready to scale, then I would suggest starting with a C-Corp.”
Trey Calver is a Startup and Venture Attorney at Michael Best & Friedrich LLP, a full-service law firm. He started his career working for a venture capital business and a law company specializing in start-ups. He created and approved business and legal contracts for Motivate Venture Capital, including employee and contractor agreements, finance agreements, leases, term sheets, convertible notes, SAFEs, and warrants, among others. Concurrently, Trey worked as an attorney for a boutique start-up legal company that focused on the technology industry and services the specialized needs of start-ups and high-growth enterprises. He worked as an associate at NCT Ventures, an early-stage VC firm, for two years while getting his J.D. at The Ohio State University. Trey became an entrepreneur when he co-founded and helped scale High School AD Network, a bootstrapped online startup and communication platform for high school athletics teams, in 2017.
In this episode, we covered:
Trey’s Passion for Entrepreneurship
Advice for Breaking into VC
Common Founder Legal Questions
Term Sheets
Challenges in Investing Overseas
You can find Michael Best & Frierich LLP on their website, Twitter, and Linkedin, Trey on Linkedin, Venture Best’s Blog HERE, and Galen Mason on Twitter.
Manifold Group is a venture holding company based in Chicago with offices in Dallas, Los Angeles, and soon Atlantic Canada. Early stage private investments represent an extraordinary investment opportunity, but existing investment models in the space leave much to be desired.Manifold is a new model for growth in the new economy, designed to create and capture value at the early stage through synergies across its venture fund, incubation and acceleration studio, and advisory firm. Learn more about Manifold at https://www.manifold.group.
