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

Startups

The Croatian-Slovenian Mercury PSI and the Danish Nets are moving together to digitize payments across Europe

Biometric passports and ID’s, contactless payments and a cashless society: all these ideas come from the danish Nets, and recently they are being developed by local Nets CEE experts.

Tech

How Croatian Q and German medi developed a solution worthy of German Innovation Award

One of the fast-growing European agencies in collaboration with renowned innovator from the health field made a great B2B solution for which they received the German Innovation Award. How it came to be?

What you missed

Tech

How Croatian Q and German medi developed a solution worthy of German Innovation Award

One of the fast-growing European agencies in collaboration with renowned innovator from the health field made a great B2B solution for which they received the German Innovation Award. How it came to be?

Startups

The Croatian-Slovenian Mercury PSI and the Danish Nets are moving together to digitize payments across Europe

Biometric passports and ID’s, contactless payments and a cashless society: all these ideas come from the danish Nets, and recently they are being developed by local Nets CEE experts.

Startups

Croatian agencies SeekandHit and airt presented Capt’n: „It saves time and money just like top advertising experts!”

Veterans of advertising and co-founders of the leading agencies DRAP and SeekandHit presented their AI platform that optimizes advertising for Facebook and Google networks.

Startups

Croatian fintech startup airt helps banks learn about user’s transactions using AI

This week we had opportunity to cover the announcement of airtAI, a Croatian fintech startup whose solution is based on artificial intelligence and is directed towards smaller banks that want to better assess the needs of their clients. Exclusively for Netrokracija airt’s CEO Hajdi Ćenan reveals the details.

Enterprise

Cenosco: A Dutch company that prevents explosions on oil platforms from Pula, The Hague and Zagreb through software, VR and AR

Applications that control the operation of oil platforms and plants for the processing of derivatives are directly responsible for a safer and cleaner world, and one of the best is created largely in Croatia.

Startups

Blockchain from the Bloc(k): Listen to the 1st podcast dedicated to Balkan blockchain scene (by æternity and Netokracija)

We are delighted to present you Blockchain from the Bloc(k), the first podcast about Balkan's blockchain scene by Netokracija and æternity Ventures, asset management company investing in Blockchain startups.