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Welcome to "No Fear Equity," a series simplifying startup equity and fundraising. In this episode, startup lawyer Mike Laplante breaks down a Series A term sheet with host Sophia Sang. Understanding legal terms in a term sheet is crucial for raising a priced round. Mike, from Perkins Coie, explains key elements such as the stated pre-money valuation and the amount being raised, in this case, 5 million dollars. This insightful breakdown helps startups navigate the complex world of fundraising.