We are happy to share a template of the term sheet for pre-seed and seed financing that Openfund will be offering to entrepreneurs.
This template shall not be treated as cast in stone, but rather as indicative of what founders shall generally expect from an Openfund offer, while each deal remains different.
The template is built in the spirit of what works better for the company, rather than for the fund or for entrepreneurs alone. We believe this approach works in the long term and we hope that this spirit is clear across the document.
In the Openfund, we are confident that transparency is of value to entrepreneurs and investors alike, as well as to the community at large. We hope that in sharing this document we are contributing to the evolution of our ecosystem towards maturity.