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Deal Terms & Legal
Participating preferred
A preference where the investor gets their money back AND shares in the rest — 'double dipping'.
Why it matters
It can dramatically cut what founders take home in smaller exits; pushing for non-participating is worth real effort.
Hear it from people who've done it
Get the real-world version of "Participating preferred" drawn from hundreds of conversations with founders and investors.
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Episodes on Venture Capital
Perspective X with Pauline Fetaui · 2 July 2026
Taryn Williams: Building and Exiting 6 Companies — and the Cost No One Talks About
Investment Thesis with Kali Norman · 26 June 2026
Rohan Workman of Skalata — Backing overlooked founders as AI rewrites the thesis
First Cheque with Cheryl Mack & Maxine Minter · 17 June 2026
How to Think About M&A as a Startup with Alex Feldman
Related terms
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