Episode 6 of the weekly Podcast with Bryan Guido Hassin of Third Derivative and Danny Kennedy of New Energy Nexus. They discuss the journey these two companies have chosen to take, to boldly go where no climatetech accelerator has gone before.
This week's Topics:1. Goals: support startups, investor diligence cost / table stakes
Design principles: minimize transaction costs, founder friendly
Convertible note with discount, no cap
Modeled on SAFE but convertible for more global fit
MFN clause allows flexibility to take other paper
One SPV investor invested BECAUSE of our note: - Other funds get hung up on terms - We got dozens of startups in just a few weeks b/c of simple, friendly terms - Rather than haggling/negotiating, we’re helping / co-creating success
Featured Company of the week:Switched Source: smart grid power electronics => mesh topology, increasing capacity and reliability ($9M SCALEUP grant from ARPA-E)
Links:Third Derivative PortfolioNew Energy NexusNetwork Slack CommunitySwitched Source
SCALEUP—Seeding Critical Advances for Leading Energy technologies with Untapped Potential PDF
You can also watch the D3 Mission Log on the D3 YouTube video channel.