NO!!!! Not the one you guys are thinking….this one is purely in I-Banking terms. Projects are paraded before prospective investors, and the greediest one who has an appetite takes a jump at it and a stake. Its not on open biddings, Its like every prospective investir gets his/her private show 😉
The interest, ofcourse, is followed up by term sheets and Investors try to offer the best terms for their participation. Heres where the game gets real dirty. You take X investor\’s termsheet, and use it to get better terms from Y. You end up doing multiple rounds to each one of them, and each time they improve terms!
The investors know this happens, but they cant help it either.
So apparently as it may seem from my un-moving party dude image that im having a beauty contest at the party den im famed to have, FOR THE LOVE OF GOD!! THAT IS NOT THE CASE!!!!
The answer to our project lies in a beauty contest, so we concluded in our meeting on wednesday.
I guess a week or two to go.