Fundraising

Anyone have seed to A-round funding agreements I can emulate?

Tobias Teeter President / Co-Founder at Medprex / LocalRaces

May 7th, 2015

Looking for .doc files I can use as templates so I can draft closing documents for our seed / A-round investors. Preferred equity or convertible debt.
More than 65% of new companies fail because they lack funding. In this course, you’ll learn common fundraising mistakes, how to nail an elevator pitch, how to craft a killer pitch deck, where to source investments from, and all about term sheets and convertible notes.

Betty Kayton Financial Consultant at uBiome

May 7th, 2015

www.seriesSeed.com was prepared by Fenwick, and has been approved by many tier-1 and other VCs. 

Brenton Webster

May 7th, 2015

Don't do this yourself, work with your attorney. If you don't have one yet, go get one who's experienced with startups.

Financing documents are not the kind of documents that you want to make any mistakes with.

Your attorney will be able to provide you with templates. You'll likely have a little bit of back and forth with your investors on terms, but the more standard terms/docs you start with, the less back and forth. If you're looking to minimize cost and you're familiar with writing/modifying legal docs, make some edits to the docs your attorney has provided, and have your attorney review them and make any necessary edits. Or just communicate the changes that you need to them and have them handle it.

After you've got your docs in order, there are other things you'll need to handle like SEC filings and sometimes filings with the state. Your attorney will know what needs to be done.

Cost will vary depending on what kind of financing you're doing (eg convertible note, ie debt, vs equity), but it's not too bad and well worth it. For a pretty standard convertible note, you're probably looking at a few thousand dollars. Making a mistake could cost you a lot more than that later on.

Tobias Teeter President / Co-Founder at Medprex / LocalRaces

May 7th, 2015

Betty, thanks for that helpful link.

Stephanie, I didn't see the attachment but I will email you for it.

Brenton, I'm a corporate attorney by trade seasoned with more mature M&A doc drafting, but not series A.  Just looking for reference materials.

Jessica Alter Entrepreneur & Advisor

May 7th, 2015

As betty (and google) will tell you -seriesseed.com is for this purpose. If you're really doing a Series A you should have your own attorney and honestly investors will think it's very odd not to and you can get caught up.  You know what they say about lawyers who represent themselves.

John Seiffer Business Advisor to growing companies

May 7th, 2015

YCombinator has some docs on their site. I think they're called SAFE or something.