George Tziralis publishes the Term Sheet Template of Marathon Venture Capital

In his recent article on LinkedIn, George Tziralis, Partner at Marathon Venture Capital, publishes the term sheet template for all startups who wish to collaborate with Marathon Venture Capital.

As he mentions, "this template is a truncated and simplified version of the US National Venture Capital Association model term sheet. It is not a prerequisite that all Marathon portfolio companies will be incorporated in the US. These standard terms will be customized as may be required by the jurisdiction in force. We also plan to post a similar template under UK and Greek law in the future.

For those familiar with the terminology, here is a rough summary of the core terms:

  • 1x non-participating liquidation preference
  • Board seat with standard matters requiring approval
  • Pro-rata participation right
  • Right of first refusal
  • Drag along requiring founders consent
  • Founders and employees vesting
  • No compete, no solicitation and no disclosure

With regards to investment size and valuation, we have already hinted at our typical range, yet these vary per case, so they have been intentionally left blank.

Making this template public serves a twofold purpose. First, we would like to minimize the time spent negotiating a term sheet and focus our discussion with founders on what matters the most when building a fast-growing business, i.e. team, product and go-to-market strategy.

Second, we see value in sharing what we consider a good and fair practice for a seed stage financing round. In this context, feel free to use, edit or share the document as you see fit; we would love to see startups or other market participants putting this template in good use."

You can take a detailed look at the Term Sheet Template here. Κάνοντας Like στο Facebook ενημερώνεστε άμεσα για τα νέα άρθρα -->
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