The new value test for investors: What founders are actually buying when they take your cheque
A founder I know recently received two term sheets in the same week. The first was from a regional VC firm with a recognisable brand. The cheque was for US$1.5 million. The terms were reasonable. The partner had introduced himself at a conference six months earlier and had been pleasant in every interaction since. The […] The post The new value test for investors: What founders are actually…
In 2026, founders are increasingly evaluating capital based on more than just the cheque size. The cheque has become an easy part of the deal, but investors who can provide intangible value are becoming more attractive to founders. This shift in how founders are choosing capital partners reflects a growing awareness of the importance of intangible assets.
These assets include distribution, customer introductions, hiring leverage, GTM expertise, cross-border access, and strategic advice. Founders are willing to pay a premium for investors who can provide these assets, as they can significantly impact the speed and success of a company's growth. Investors who lack these capabilities risk losing deals to competitors who have built a deliberate value-add capability.
Founders are no longer satisfied with simply receiving capital; they want investors who can deliver tangible value that can be quantified.
Written by urgent.news from e27's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
