About This Guide¶
Mission Statement¶
Swimming With Sharks exists to democratize startup funding knowledge. Every founder deserves access to the same insights, strategies, and protective mechanisms that well-connected entrepreneurs take for granted.
Too many first-time founders sign predatory term sheets, give up excessive equity, or lose control of their companies simply because they lacked information that experienced entrepreneurs know by default. This guide changes that.
Why This Guide Exists¶
The startup funding landscape is inherently asymmetric. Investors evaluate hundreds of deals annually and negotiate term sheets professionally. Most founders do this once or twice in their careers - often while simultaneously running their companies.
This information asymmetry leads to:
- Founders accepting predatory terms they don't understand
- Unnecessary equity dilution from poor negotiation
- Loss of board control before companies mature
- Failed exits where founders receive nothing despite building valuable companies
Swimming With Sharks levels this playing field by providing:
- Plain English explanations of complex funding terms
- Real-world case studies showing what happens when terms go wrong
- Negotiation strategies tested across hundreds of deals
- Templates and tools to model decisions before signing
- India-specific guidance for the unique regulatory environment
About the Author¶
Niraj Kumar is a technology entrepreneur and startup ecosystem advocate with extensive experience navigating the fundraising landscape. Having personally experienced the challenges of founder-investor dynamics, Niraj created this guide to help other founders avoid common pitfalls.
Connect with Niraj:
- LinkedIn: linkedin.com/in/nirajkvinit
- Email: nirajkvinit@gmail.com
Methodology¶
This guide is built on rigorous research and real-world evidence:
| Research Component | Scope |
|---|---|
| Academic & Industry Citations | 913+ sources from 386 unique references |
| Case Studies Analyzed | 90+ real-world examples (Indian and global) |
| Term Sheets Reviewed | 100+ actual term sheets across stages |
| Expert Interviews | Founders, VCs, lawyers, and investment bankers |
| Regulatory Research | Primary source analysis of Companies Act, FEMA, SEBI regulations |
Research Process¶
- Primary Research: Analysis of actual term sheets, shareholder agreements, and deal documents
- Secondary Research: Academic papers, industry reports, and regulatory filings
- Expert Validation: Review by startup lawyers, practicing VCs, and experienced founders
- Case Study Development: Documentation of real outcomes with proper attribution
- Continuous Updates: Regular revision based on market changes and regulatory updates
Content at a Glance¶
| Component | Count |
|---|---|
| Chapters | 25 across 7 parts |
| Citations | 913+ from 386 unique sources |
| Case Studies | 90+ real-world examples |
| Templates | 50+ with multiple versions |
| Glossary Terms | 175+ definitions |
| Calculators | 10+ with methodologies |
| Appendices | 5 comprehensive reference sections |
Editorial Standards¶
Evidence-Based¶
Every claim in this guide is backed by citations, case studies, or documented industry practices. When we present analysis, we distinguish between:
- Established facts - Cited with sources
- Industry norms - Noted as common practice with examples
- Author recommendations - Clearly labeled as opinion
Balanced Perspective¶
While this guide is founder-focused, we maintain balance by:
- Explaining why investors request certain terms
- Presenting legitimate investor concerns alongside founder protections
- Acknowledging when standard terms are reasonable
- Highlighting win-win negotiation opportunities
Regular Updates¶
The startup funding landscape evolves constantly. This guide is updated to reflect:
- New regulatory requirements (especially Indian)
- Emerging market practices
- Recent case studies and outcomes
- Reader feedback and corrections
Last Updated: November 2025
Transparency¶
We disclose:
- Limitations of our research
- Areas where practices vary significantly
- When guidance is India-specific vs. globally applicable
- Potential conflicts of interest (none currently)
Disclaimer¶
This guide is provided for educational purposes only. It does not constitute legal, financial, or investment advice.
Before making any funding decisions:
- Consult a qualified startup lawyer familiar with your jurisdiction
- Work with a chartered accountant or tax advisor
- Seek advice from experienced founders in your network
- Engage financial advisors for complex transactions
The author and publisher disclaim any liability for decisions made based on this guide. Every funding situation is unique, and professional guidance tailored to your specific circumstances is essential.
Contributing¶
Found an error? Have a case study to share? Want to suggest improvements?
We welcome contributions from the startup community:
- Corrections: Email nirajkvinit@gmail.com with specific corrections
- Case Studies: Share your experience (anonymized if preferred)
- Expert Review: Lawyers, VCs, and founders welcome to review and comment
License and Usage¶
This guide is freely available for educational use. If you're an accelerator, incubator, or educational institution interested in using this content, please reach out for proper attribution guidelines.
Contact: nirajkvinit@gmail.com | LinkedIn
