# #84 Legal Tips for Fundraising: Navigating SAFE Notes, Priced Rounds, Exits, & More (+ Balkan Bites)

- Show: [The Startup CPG Podcast](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast)
- Published: 2023-03-28
- Length: 56m
- Episode: 61
- Page: https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal
- Listen: https://share.transistor.fm/s/6e631ba0

## Summary

Ryan Lewendon, Partner at Giannuzzi Lewendon, explains the legal nuances of fundraising for CPG companies, covering SAFE notes, priced rounds, and exit strategies. He advises founders to start fundraising 7 months early, use pre-money caps to avoid excessive dilution, and carefully select investors to avoid power imbalances and redemption rights. The episode concludes with a mini-interview with Ariana, founder of Balkan Bites, who shares her journey from home kitchen to securing a co-packer and winning a Shelfie Award.

## Chapters

- [0:03](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=3) Introduction: Ryan Lewendon and Giannuzzi Lewendon
- [5:12](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=312) The Role of Attorneys in Fundraising Strategy
- [9:55](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=595) SAFE Notes: Post-Money vs. Pre-Money Caps
- [14:16](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=856) Priced Rounds: Board Seats and Redemption Rights
- [19:51](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=1191) Choosing Investors and Avoiding Conflicts
- [24:24](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=1464) Timing Fundraising and Building Investor Relationships
- [28:35](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=1715) Exit Strategy: Data Rooms and Acquirer Alignment
- [34:05](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=2045) Current Market Climate and Recaps
- [41:15](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal#t=2475) Balkan Bites: Ariana's Founding Story

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Intellectual property](https://hardwarepodcasts.com/topic/intellectual-property)
- [Manufacturing partners & offshoring](https://hardwarepodcasts.com/topic/manufacturing-partners)

## Most relevant to

early-stage companies, companies scaling up

## Mentioned

- Giannuzzi Lewendon (company)
- Vitamin Water (product)
- Smart Water (product)
- Coke (company)
- Balkan Bites (company)
- Propeller (company)
- VMG (company)
- Aura Bora (company)
- Mid-Day Squares (company)

## Related episodes from other shows

- [124: Raising $1 Million for a Hardware Startup](https://hardwarepodcasts.com/podcast/product-startup/2022-04-27-124-raising-1-million-for-a-hardware-startup) (Product Startup)
- [178: Venture Capital Funding for Hardware Startups](https://hardwarepodcasts.com/podcast/product-startup/2023-06-01-178-venture-capital-funding-for-hardware-startups) (Product Startup)
- [Advice Line with Eric Ryan of Method returns](https://hardwarepodcasts.com/podcast/how-i-built-this/2026-04-23-advice-line-with-eric-ryan-of-method-returns) (How I Built This)
- [Founder vs. Investor with Liz Zalman and Jerry Neumann](https://hardwarepodcasts.com/podcast/oxide-and-friends/2025-11-22-founder-vs-investor-with-liz-zalman-and-jerry-neumann) (Oxide and Friends)
- [Advice Line with Ariel Kaye of Parachute Home](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-08-29-advice-line-with-ariel-kaye-of-parachute-home) (How I Built This)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2023-03-28-84-legal-tips-for-fundraising-navigating-safe-notes-priced-rounds-exits-more-bal. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to The Startup CPG Podcast.