The British Private Equity & Venture Capital Association (BVCA) has published updated versions of its model documents for early stage investments.
It says that its aim is to produce industry-standard legal documentation in the UK and it encourages all parties to adopt these documents as the starting point for their investments so that investors and companies can then focus on deal-specific matters.
The suite of documents, which has been drafted for use on a Series A funding round and envisages a significant investment being made in whole or in part by fund investors, comprises a subscription agreement, shareholders' agreement and articles of association.
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