The Cornwall Angel Network has commissioned Foot Anstey to develop a bespoke blank set of legal documents as a resource for angel investors members of the Network.
This set has been created following the suggested structure provided by the British Private Equity and Venture Capital Association (BVCA).
The templates are blank and require manual input on certain negotiable items such as pre-emption rights, values etc. You will find helpful annotations in the documents to aid completion but seeking professional legal advice is strongly recommended for both angel investors and the investee company.
This resource pack was created to lower the overall legal cost of investing in an early stage company that does not already have a robust legal structure in place but investors and companies can decide on whether to use it or not.
The legal pack contains:
- Advanced Subscription Agreement (ASA)
- Articles of Association
- Board minutes – Issue of Shares
- Directors Service Agreement
- Front end – Disclosure Letter
- Heads of Terms – Investment Round
- Shareholder Written resolution – allotment of shares, pre-emption, articles
- Subscription letter – Short Form
- Template subscription agreement and Shareholders Agreement