We conduct a randomized controlled trial to evaluate the impact of contract education and contract legal consulting on entrepreneurs’ outcomes in venture capital (VC) and seed funding. Entrepreneurs in the treatment group received targeted instruction in VC contract terms and startup financing agreements. We find that educated entrepreneurs are less likely to secure initial angel or seed funding and are more likely to pursue traditional employment rather than continue with their startup ventures. However, among those who do obtain an- gel and VC investment, treated entrepreneurs are more likely to receive subsequent funding rounds, achieve higher valuation in later stages, and experience a lower risk of involuntary removal as cofounders. These findings suggest that increased contract knowledge enables entrepreneurs to make more informed career choices and negotiate more favorable terms, albeit at the cost of reduced entry into the VC funding pipeline.