For years, entrepreneurs extracted high valuations and strong founder friendly terms from venture capitalists as a long bull market and a flood of capital gave entrepreneurs the edge.

Now the tables have turned. Amid the coronavirus pandemic, VCs are seeking stronger terms in deals to hedge their risk, improve their investment prospects and strengthen their control of companies. This is on top of sharply falling start-up valuations – often one of the biggest points in deal talks – across many sectors, investors say.