how to negotiate a performance-based term sheet with angel investors without losing control

I’ve negotiated my fair share of term sheets with angel investors, and one lesson keeps surfacing: performance-based terms can be powerful tools for aligning incentives, but they can also be Trojan horses for losing control if you’re not careful. Below I share practical, hands-on guidance on...

how to negotiate a performance-based term sheet with angel investors without losing control
Dec 18, 2025 • by Éloïse Dupont

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