Pro forma documents for entrepreneurs developed in conjunction with major VC investors
Seedsummit, part of the Seedcamp organisation, has developed and made available two standard form term sheets for investments in European start-ups.
From the Seedsummit site:
There are two documents available…the general SeedSummit Term Sheet and an EIS friendly variant which should be practical both for entrepreneurs to get acquainted with typically used standard terms, and for investors and other players in the ecosystem to utilise for fast, fair, transparent and affordable funding rounds.
The terms and documents in both versions have been validated by Europe’s most active seed investors and include all major commonly used terms found in a term sheet. While the documents provide many of the terms that are typically found within financing rounds, the eventual users of these documents ultimately decide which terms to include or not include. The origin of the initiative was inspired by the Series Seed docs of the USA.
The term sheets can be downloaded in Word format here.
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