10+ Critical Issues That Can Cause Venture Financing Deals to Collapse Post-Term Sheet

Jason Lemkin outlines the top 10+ reasons why venture financing deals fall apart after term sheet signing, emphasizing that most term sheets are non-binding and founders must minimize surprises during due diligence. Key issues range from missing financial projections and problematic cap table structures to leadership clarity and investor syndicate composition. The article stresses that deal implosions are driven by VCs operating in either 'greed or fear' modes, with founders responsible for maintaining confidence between signing and wire transfer.