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News & Insights from IRC Partners
IRC Partners publishes institutional-grade research on capital stack structuring, GP/LP economics, debt and equity positioning, fund formation, and LP due diligence for real estate sponsors and growth-stage founders.
Each article is written to the standard institutional investors use to evaluate sponsors, not as general education.
June 12, 2026
Do Convertible Notes Count Toward the Drag-Along Threshold? The Definition Gap That Blows Up Acquisition Closings
Whether convertible notes count toward a drag-along threshold depends on document language - and the definition gap blows up acquisition closings.
June 12, 2026
How Drag-Along Consent Structures Can Let a Minority Investor Force a Majority Outcome
How a minority investor holding 18% of a cap table can force a company sale - and why consent structure design, not ownership percentage, is what matters.
June 12, 2026
Why Your Drag-Along Threshold From Your Seed Round No Longer Protects You at Series A
Drag-along rights force minority holders to sell. Tag-along rights let them join a sale. Confusing the two costs founders millions at exit.
June 11, 2026
The Difference Between Drag-Along and Tag-Along Rights - and Why Confusing Them Costs Founders Millions at Exit
Drag-along rights force minority holders to sell. Tag-along rights let them join a sale. Confusing the two costs founders millions at exit.
June 11, 2026
How Drag-Along Rights Get Buried in Your Term Sheet and Activated at the Worst Possible Moment
How drag-along rights move from a term sheet summary to a binding voting agreement - and the three moments they activate against founder interests.
June 11, 2026
Why 95% of VC Term Sheets Include Drag-Along Rights - and the Three Clauses Inside Them That Actually Determine Your Outcome
Why drag-along is in every VC term sheet - and the three sub-clauses inside it that determine whether it protects founders or works against them.
June 11, 2026
The 51% vs. 75% Drag-Along Threshold: How One Number Determines Whether Two Investors Can Force Your Exit Without a Single Founder Vote
Why the drag-along threshold percentage is the wrong thing to focus on - and how voting group architecture determines whether founders control their exit.
June 10, 2026
Drag-Along Rights Explained: What Growth-Stage Founders Actually Sign Away at Series A and Forget Until Exit
What founders actually sign away in a Series A drag-along clause - and why the five concessions stay invisible until a buyer appears at exit.
June 10, 2026
How Long Does Investor Pitch Deck Preparation Take for Institutional LP Outreach?
How long institutional pitch deck preparation actually takes - and why setting an outreach date before preparation is complete is the most common mistake.
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