The startup is founded by an Experienced Founder. Or, the startup has received funding from a government program within the last three years. Or, the syndicate lead or another investor in this round is a Credible Investor and the syndicate and the Credible Investor are investing on the same terms. Credible Investor means an investor that meets one of the following criteria:
- A venture capital fund that has at least $10 million in assets under management, or
- An individual investor who has led or participated in at least five investments in a Start-up, if at least two of those Start-ups have completed a successful liquidity or financing event; or
- Is an Experienced Founder.