Seedsummit Releases Localized Termsheet for CEE Startups: Croatia First! - Netokracija CEE

Seedsummit Releases Localized Termsheet for CEE Startups: Croatia First!

Seedcamp has been known for its continued investments in the CEE startups and has decided to focus its efforts on making these investments simpler for themselves and other potential investors in the region. The investor group Websummit just issued the first localized Termsheet for the CEE region, as Seedcamp tells us exclusively, translated in Croatian and adapted to Croatian legislation, to make the investment process easier and more transparent.

seedsummit

Seedcamp has been known for its continued investments in the CEE startups and has decided to focus its efforts on making these investments simpler for themselves and other potential investors in the region. The investor group Websummit just issued the first localized Termsheet for the CEE region, as Seedcamp tells us exclusively, translated in Croatian and adapted to Croatian legislation, to make the investment process easier and more transparent.

Seedcamp believes that Croatian startup scene has much to offer, and has repeatedly and successfully invested in local startups:

For many years we have been continuously impressed by the level of high quality business ideas and talented teams coming from Croatia. The startup scene has rapidly expanded and many companies are actively looking for funding. Seedcamp has invested in many Croatian companies (including Farmeron, Oradian, and Teddy the Guardian) and see Croatia as a flourishing startup ecosystem in Europe that will continue to grow.

This is also why Croatia was the first choice for localization of the Termsheet in the CEE region. The document was drafted by Seedsummit, a group of 25 leading investors comprising, among others, Eden Ventures, Passion Capital, Kima Ventures and Wellington. This group is focused on creating transparency in the European startup ecosystem by providing documents that range from a founders’ agreement to investment termsheets.

Template for future investment deals

This addition marks the fifth jurisdiction in the Termsheet series, and the first one in the CEE region.

The localized Termsheet takes into consideration various differences between English and Croatian laws and was adapted to bridge those differences while staying in the spirit of the original document. All major terms for early stage investments are covered in the document, aligned with what the Seedsummit supporting organizations agree to be fair and standard for early stage deals.

This was achieved through close collaboration with local experts, namely the Law office Šarolić Robić and Marija Butković, and the project is supported by the local incubator ZIP.

Startups can use it as a template or starting point in structuring their deal and to get an understanding of the generally accepted standards. The document will also bring some clarity into the still fuzzy laws and practices, explains Matija Kopić, founder of Croatian startup Farmeron:

It will bring a much needed transparency to sometimes obfuscated startup funding scene locally. I hope it will also drive new investors i.e. wealthy individuals to start looking into this kind of investment mechanisms.

The document can be downloaded on the Seedsummit web page, and anyone wishing to get involved with the localization can get in touch with info@seedcamp.com.

Leave a Reply

Your email address will not be published.

Popular

Tech

Why VS Code remains a developer favorite, year after year

In this year's Stack Overflow Survey, Visual Studio Code (VS Code) has been voted the favorite tool among developers, making it the category winner for the fourth year in a row. We examined why 74,48% of all professional developers, experienced and beginners alike, prefer it to other tools.

Careers

How does IT Consulting create experts who know how to integrate IT into all business spheres?

Keeping in mind how much the IT industry influences all other industries but also everyday life, it's surprising how little is said about IT consulting, which is practically the bridge that connects the two. That's why we sat down with a junior and two seniors on different career paths - to explore this profession with those who practice it, love it, and live it.

Careers

Infobip (W)intership: Not only for software developers, and not only in summer!

More than 100 mentors worked with 103 interns at 6 of Infobip's regional offices. Interns gained new skills and knowledge, got to feel what it's like to work at a global tech company, and on top of that, 87% of them got - job offers.

What you missed

Enterprise

One the best European developer conferences is coming to Miami

Shift in Croatia attracted thousands of developers and thus made its way to the very top of developer conferences in Europe. Now they are ready to cross the borders of Croatia and come to the USA. Applications for Shift Miami are starting soon!

Careers

Infobip (W)intership: Not only for software developers, and not only in summer!

More than 100 mentors worked with 103 interns at 6 of Infobip's regional offices. Interns gained new skills and knowledge, got to feel what it's like to work at a global tech company, and on top of that, 87% of them got - job offers.

Careers

How does IT Consulting create experts who know how to integrate IT into all business spheres?

Keeping in mind how much the IT industry influences all other industries but also everyday life, it's surprising how little is said about IT consulting, which is practically the bridge that connects the two. That's why we sat down with a junior and two seniors on different career paths - to explore this profession with those who practice it, love it, and live it.

Tech

Why VS Code remains a developer favorite, year after year

In this year's Stack Overflow Survey, Visual Studio Code (VS Code) has been voted the favorite tool among developers, making it the category winner for the fourth year in a row. We examined why 74,48% of all professional developers, experienced and beginners alike, prefer it to other tools.

Startups

The Football Company launches NFT jersey of Croatian national football team for metaverse fantasy football

Virtual sports merchandise might become a multibillion-dollar industry thanks to the metaverse. Two Croatian founders in Germany have taken the lead to give Vatreni a head start.

Enterprise

From intern at Infobip to Engineering Department Director of Croatia’s first unicorn

Anja Hula begun her career at Infobip as an intern. Year over year she showed great progress as an engineer and a leader. Today she is responsible for the collegues and products of whole Data Department. We believe that Anja's story will inspire all who are already building a career in IT or just starting out...