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Before Series A - Convertible Note and Series Seed Funding for Startups 2014


Speaker(s): David Teten, Dror Futter
Recorded on: May. 12, 2014
PLI Program #: 56679

David Teten (teten.com) is a Partner with ff Venture Capital and Founder and Chairman of Harvard Business School Alumni Angels of Greater New York. ff VC has made over 200 investments in over 70 companies since 1999. HBS Alumni Angels of NY is the second-largest angel network in New York. He formerly served on the board of Ionic Security and now serves on the board of Whisk.

David led the first-ever study of best practices of venture capital and private equity funds in originating new deals and the first-ever study of VCs in creating portfolio company value. He is cofounder of the Venture Capital Access Program, which helps women and minority entrepreneurs raise venture capital from members of the HBS Alumni Angels network.

David is a frequent keynote speaker at conferences for investors, entrepreneurs, and executives. He has received the highest ratings of any speaker at three different conferences.

He has published in Harvard Business Review, Institutional Investor, the Journal of Private Equity, etc., and is the lead author of The Virtual Handshake: Opening Doors and Closing Deals Online. He holds a Harvard MBA and Yale BA, both with honors.


Dror Futter focuses his practice on startup and blockchain companies and their investors, and has worked with a wide range of technology companies. His fifteen years’ experience as in-house counsel included positions with Vidyo, Inc., a venture-backed videoconferencing company, and New Venture Partners, a venture fund focused on corporate spinouts. Prior to that, Mr. Futter was Counsel to the CIO of Lucent Technologies, as well as supporting parts of its sourcing organization.

Mr. Futter’s practice has three main focus areas:

Venture Finance/Corporate 
Mr. Futter has represented companies and venture funds in numerous equity and debt financing rounds, from early “friends and family” and Seed rounds to later-stage mezzanine financings, and has been on both sides of the table in these transactions. On the corporate side, he routinely handles corporate formations, employee equity plans and mergers and acquisitions. Mr. Futter has also been involved in over 40 corporate spinouts and understands the unique concerns of corporate venture investors.

Blockchain and Cryptocurrencies 
Mr. Futter advises clients with respect to legal developments in the rapidly developing blockchain and cryptocurrency spaces.   He has advised on ICO’s and has worked with consortia considering the issues involved in using permissioned blockchains to support supply chain record keeping.

Transactional IT & IP
Mr. Futter represents clients in a broad range of transactions, including: software licenses, SaaS Agreements, outsourcing agreements, development agreements, website terms and conditions, patent licenses, direct and indirect channel distribution agreements, services agreements, manufacturing agreements, and other supply chain agreements.

Mr. Futter serves on the Model Forms Drafting Group of the National Venture Capital Association, the legal advisory board of the Angel Capital Association and Legal Working Group of the Wall Street Blockchain Alliance. He is also a frequent speaker and writer on venture and blockchain related topics.  In addition, Mr. Futter is an Entrepreneur in Residence at the Stevens Venture Center of the Stevens Institute of Technology and a Mentor at Princeton University’s Keller Center.

Mr. Futter is a 1986 magna cum laude graduate of Princeton University and 1989 graduate of Columbia University School of Law. He also earned an Executive MBA in 1999 from the American Electronics Association Executive Institute of Stanford University.