Hi Malcom, I just took a look at the standard term sheet and it looks quite standard and non-toxic. All the terms seem quite reasonable and it looks like they have structured it to help companies with a good idea succeed - not to be onerous to a company that already has built something of value. It may actually sort out some problems you may encounter before you know about them - i.e. a cofounder with a large amount of shares leaves the company in six months.
Obviously one would have to read the actual legal documents and make sure that there are no new undisclosed terms in them, but the standard offer looks good and reasonable. The only complexity it really adds is having to create the legal docs which their attorney will take care of you for $4k - very reasonable as this can cost up to $50k to do from scratch for a larger deal. If you are looking for that amount of seed money, I would be happy with their conditions. Seems like a good group! Cheers, Edwin On Saturday, December 28, 2013 8:49:16 PM UTC+11, Malcolm Lambert wrote: > > Kima Ventures has an interesting funding model they call Kima15 - > US$150,000 investment for 15% and a 15 day turn-around of funding > applications. > > For their Kima15 investments they have a non-negotiable Term Sheet which > can be seen here http://www.kima15.com/ > > The terms would add significant complexity to a start-up with a simple > share structure but I'm wondering if that sort of complexity is inevitable > for companies growing via investment. > > If anyone has experience (from entrepreneur or investor point of view) and > would like to comment: > > Are the Kima15 terms similar to what local investors would ask for? > Would investors in following rounds be discouraged by the Kima15 terms or > would it be expected that a Seed round investor will have those terms? > > Thanks > > Malcolm > -- -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en --- You received this message because you are subscribed to the Google Groups "Silicon Beach Australia" group. To unsubscribe from this group and stop receiving emails from it, send an email to silicon-beach-australia+unsubscr...@googlegroups.com. For more options, visit https://groups.google.com/groups/opt_out.
