Unpacking changes to the go-to fundraising legal templates

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Hello reader,

Apart from an awareness of their basic rights, most people are oblivious to many of the intricate and complex laws that govern modern societies. That’s where lawyers step in, plugging the gap between the general public’s limited understanding on the subject and the actual application of it.

However, law can be a pretty dry topic. Recently, I skimmed through a few legal documents while visiting a lawyer friend, and it was a mind-numbingly dull experience.

The long sentences, avoidance of pronouns, and jargon-filled content could be an antidote for most sleeping troubles.

The legal process that needs to be followed during any fundraising round is similarly unexciting and complex and consists of several parts. Luckily, here is where the Venture Capital Investment Model Agreements (VIMA) is looking to leave its mark. It acts like a base legal template which early-stage founders can customize (or amend) to their preference.

Today’s premium story not only highlights the tweaks and additions to the revised version of VIMA, which was released last month, but it also talks about how the changes provide us with a unique insight into the prevailing investor-friendly, on-ground realities of the current funding landscape.

Today we look at:

• A summary of the latest update to VIMA
• Entering the metaverse through an equity-NFT fundraise
• Other newsy highlights such as Blibli reviving IPO plans and an SG-based mobile app developer going public through a SPAC deal

— Shravanth

P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.

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Let’s get done with it

Image credit: Timmy Loen

VIMA was developed by The Singapore Academy of Law and Singapore Venture & Private Capital Association in 2018 to provide startups with a set of standard terms and documents for early-stage VC deals.

An equity-NFT funding structure

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