Seed investors commit much-needed capital to emerging managers in exchange for favorable economic and other investment terms. They may also serve as a seal of approval that helps attract other investors. Seward & Kissel recently released the results of its eighth annual seeding study, which covered the evolving nature of seed deals, including growing alignment between the interests of seeders and managers; increasing use of seed money for working capital support; revenue shares, tail rights and other seed deal economics; lockup terms; buyouts; and common non-financial terms. This article highlights the key findings, with additional thoughts from Seward & Kissel partner C. Gerhard (Gary) Anderson, III. See our two-part coverage of a prior Seward & Kissel seeding study: “Structuring the Seeder’s Interest, Key Person Covenants and Lock-Ups” (Oct. 12, 2017); and “Consent Rights, Indemnification and Manager Buyout Rights” (Oct. 19, 2017).