The documents were developed in conjunction with US law firm Fenwick & West and are aimed at making the process of raising early stage capital easier with US investors.
The documents can be found at www.seriesseed.com.
Making these documents available will help reduce the legal costs associated with raising capital for smaller companies or start-ups, according to the Seriesseed website.
Legal fees for smaller rounds of capital raising (US$500,000 to US$1 million) can be quite significant relative to the size of the raise and deter entrepreneurs from moving forward with an idea.
“The Series Seed Documents should reduce both the time and cost of financing a transaction,” according to the Seriesseed website.
“They are considerably shorter and simpler than the status quo investment documents, designed to keep the lost essential terms for the transaction and postpone the other terms for a later fundraising round.”
These materials should provide New Zealand companies with a good sense of standard terms for an initial capital raise and also set expectations for raising capital in the United States.
Source: Seriesseed.com
