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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

Dror Futter focuses his practice on startup companies and their investors, and has worked with a wide range of technology companies. His fifteen years’ experience as in-house counsel includes 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.

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.

External General Counsel

As a former General Counsel and the sole attorney at a venture that went from 80 to 300 attorneys during his tenure, Mr. Futter has a deep understanding of the challenges faced by fast-growing companies and the type of business-focused legal counsel they require. In addition, his background allows him to counsel clients on a broad range of subjects without the need to involve other subject-matter experts. As a result, he is exceptionally well suited to serve as an external general counsel for growing companies with sophisticated legal needs that do not have internal counsel.

Prior to joining Rimon, Mr. Futter was a partner at the Newark, NJ-based McCarter & English, law firm where he was part of the Corporate Department and Venture Capital Practice Group.

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.

Further to his academic and legal career accomplishments, Mr. Futter is a recognized thought leader in the areas of venture capital and technology transactions. Among other things, he serves on the Model Forms Drafting Group of the National Venture Capital Association and the legal advisory board of the Angel Capital Association. He is also a frequent speaker on venture-related topics for area Meetups and conferences.


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.