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Welcome to No Fear Equity, a series where startup equity and fundraising are explained in easy terms. Sophia Sang is joined by startup lawyer Mike LaPlate to discuss a series A term sheet. When raising a price round, understanding a term sheet is crucial. Mike LaPlate, a startup attorney at Perkins Coie, breaks down the important parts of a series A term sheet. One key aspect is the stated pre-money valuation, with this company aiming to raise 5 million.