For pre-seed (where we usually lead the round), we like to use documents based largely on the standard Seedsummit terms that we helped co-ordinate with the help of many other investors in the eco-system. Please see here for an example of our current standard pre-seed convertible note agreement. We’re comfortable using either a convertible or equity structure and work with the founders we invest in to figure out what’s best at the time we invest.
For seed (where we co-invest), the terms of the round and legals are generally driven by the lead investor.

We are generally the first capital into the majority of our companies to date. These companies have ranged from prototype to pre-launch to launch and even post revenue. We appreciate different businesses are at different stages when they learn about us. But from the point you have a prototype (pre-revenue) through to when you have early revenue, we are happy to learn more about what you do and consider you for investment.

If you think you are at a point in the business at which Seedcamp’s platform of support can really help you step up your plans, then it’s likely the time we should invest. This is really our sweet spot for providing rocket fuel for startups on their journey ahead.

We are sector agnostic in our approach and focus on backing world-class founders creating valuable, tech businesses for sufficiently large addressable markets. We want you to be solving big problems for big markets. We aren’t afraid to take risks so you shouldn’t be afraid to be ambitious and far reaching.

Successful companies, in our experience, come in many different shapes and sizes, but have a few attributes in common at the early stage. These include: the quality of the founding team, how well they’ve considered their customer, the market size of their opportunity and their customers’ challenges, how this represents itself in the product they’ve created, and lastly how much funding is required to really demonstrate product market fit. The better articulated the above points are, the more comfort we feel in whether we can deliver value to the founding team.

Raising additional capital for growth is one of the key concerns founders have at the early stage of their businesses. At Seedcamp we appreciate that the process of raising more growth funds can be a draining due to the opaqueness of communications from new investors, the web of relationships necessary to navigate, the time it takes to raise, and the negotiation of terms that best align interests with existing and future shareholders. Our time and commitment to founders is to maximize choice for them while reducing all of the above in order to fast-track the whole process.

As part of our platform offering, we expose you to leading global investors both in Europe and the US, ensuring you’re meeting the right people and have a solid understanding of the investment landscape to identify who the right future partners for your startup will be.

We’ve broken down all the stages of our pre-seed investment process here so you can see exactly how it works. From initial submission, we’ll aim to get back to you within 14 days if we are interested in taking you through to the next round of our investment process.

We will lead your first investment with a cheque of £100K for 7.5% equity. We will co-invest in seed rounds of up to £2M as long as you have a lead investor.