In case you missed it: November 2023
Catch up on the latest from SeedLegals: invest as a group with Syndicate, R&D tax schemes merge, find out who’s judging...
Catch up on the latest news from SeedLegals. In December, our new Syndicate service for investors went live, making it easy for a group to invest in companies raising on SeedLegals. You can now re-use the terms from a previous SeedFAST (or BSA Air in France) and soon you’ll be able to create multiple SeedFASTs in one go.
Not long now until the SeedLegals Startup Awards. In December, we announced our sponsors and the grand prize on offer for the overall winner of SeedLegals Startup of the Year.
Read on to find out more about these updates and what’s coming soon.
When you create a SeedFAST (or in France, a BSA Air), wouldn’t it be handy if you could recycle the terms you used on a previous SeedFAST you created? That’s now possible, saving you even more time when you take a one-off investment.
Now, when you create a SeedFAST on SeedLegals, you can re-use the terms from a previous SeedFAST agreement, and then edit them as required for the new investment. Here’s how it works – the steps are the same if you’re creating a BSA Air on SeedLegals France:
We recently announced the grand prize for the SeedLegals Startup Awards. The judges will select one company from the finalists in every category of the awards to win the title of SeedLegals Startup of the Year.
The winner won’t just win this prestigious title, they’ll be eligible to receive £50,000 equity investment from angel investor(s), subject to the Awards T&Cs. All winners will be announced on the evening of the Awards.
The SeedLegals Startup Awards recognise the outstanding contributions of founders, startups and investors who drive entrepreneurship in the UK. The event is generously sponsored by:
It isn’t too late to join us as a sponsor. Get in touch before the end of January 2023: [email protected]
With the new SeedLegals Syndicate service, groups of angel investors can invest together in companies fundraising on SeedLegals.
Lead investors can use SeedLegals Syndicate to generate and share the legal documents to create a syndicate before they invest together in a startup on SeedLegals. There’s no need to go through the costly process of creating an SPV (special purpose vehicle) for the deal, a syndicate can invest as a group using the SeedLegals nominee company.
For lead investors and their syndicate members, the entire process of investing is much faster and far more straightforward with SeedLegals Syndicate:
⏱️ Save time on admin
Set up your syndicate with SeedLegals MPL in less than a day. Set one carry fee for the syndicate. Spend less time on admin, free up your time to hunt for great deals.
☂️ Effortlessly comply, with built-in best practice
Run your syndicate deals with SeedLegals MPL using our verified documents and straightforward workflow.
🪄 Simplify ongoing admin
Manage your syndicate group on the SeedLegals MPL dashboard, and track closed deals in your investment portfolio view.
💷 Offer the members SEIS/EIS tax relief
Where investments qualify, members of your syndicate can claim SEIS/EIS tax relief on their investments after the round is closed, just as if they invested as individuals. (The syndicate members’ eligibility depends on their individual circumstances and any later changes in their situation.)
⚖️ Save on legal fees
SeedLegals Syndicate costs just £1,990 + 1% of the syndicate investment, + VAT, capped at £10,000. For example, if your syndicate will invest £200,000, then the fee will be £3,990 + VAT. This fee is paid to SeedLegals MPL by the investee company.
If you have potential investors thinking about bringing in other investors, make sure you let them know about SeedLegals Syndicate.
If you have multiple potential investors who aren’t a syndicate, you can use SeedLegals Rollup to turn your investors into one easy-to-manage entry on your cap table.How it works
Great news for our members in France: you can now choose French as the language for email notifications from SeedLegals. Notifications are the automated messages, confirmations and reminders that we send to you, your company admins and investors. To switch languages:
As usual, our team is hard at work on many different projects. Here’s a snippet of what’s coming soon:
Soon, SeedLegals users in the UK will be able to take investments in any currency using any of our funding services. We’ll calculate the equivalent investment amount in pounds (GBP) and determine the exact number of shares to issue according to whichever currency your investor pays in.
As well as re-using the terms from a previous SeedFAST (just released, see above), you’ll soon be able to create multiple SeedFASTs, or BSA Airs on SeedLegals France, for different investors at the same time.
We’re streamlining the workflow so you’ll only need to generate the legal documents once. This is already possible with Instant Investments, and soon it will be available for SeedFASTs / BSA Airs.
Although you could re-use the terms to create each SeedFAST, this update will mean it’s even faster and easier to create several SeedFASTS or BSA Airs in one go.
And finally, a big thank you to the founders who’ve taken the time to tell us what they think of several of the services on SeedLegals. Your opinions and ideas help confirm our hunches, spark innovations and help us improve SeedLegals for everyone.
In alphabetical order:
Would you like to be part of the group helping us shape the future of our game-changing services? To find out more and take part, email [email protected] with your name and company name, and we’ll be in touch.