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30.10.2017

Team Genesis joins forces with Seedcamp and Beta-i to create simplified documents for startups

Team Genesis, a team of lawyers from MLGTS, joins Seedsummit Portugal (Seedcamp’s platform) and Beta-i (startup accelerator) by making available documentation that can be used as guidance for startups operating in the Portuguese market.

With this initiative, which was launched last year, Team Genesis intends to provide acquired knowledge that can facilitate the investment process in Portugal, allowing market agents to save time and resources.

This year’s released document - Preferred Round Term Sheets - is a summary of some of the most common terms and conditions of subscription in investment rounds with shares or quotas with privileges. Documents can be downloaded for free through the Seedcamp online platform.

“It is with great pleasure that Team Genesis re-joins Seedsummit and Beta-i in providing documentation that can simplify life for those who invest and are invested in stock investment rounds or quotas with privileges, following the steps of what is already often done in more mature markets than ours. Since this is a draft of a term-sheet, it will have to be adapted to each specific case. We believe that we are contributing to the startup market, where we have a meaningful presence and which is becoming increasingly efficient and a source of wealth for the country,” says Segismundo Pinto Basto, coordinator of Team Genesis and partner at MLGTS.

Tom Wilson, Investment Partner at Seedcamp explains: “We identified Portugal as an emerging region for entrepreneurial talent over five years ago and we remain committed to helping support and build the infrastructure and network for local founders. As the ecosystem evolves, a founder's needs change alongside it and we are pleased to carry on our investment in the region through our work with key partners to provide up-to-date documents that are free and available to all.”

Pedro Rocha Vieira, co-founder and CEO at Beta-i, believes “this is the type of initiative that we are part to be proud of, since we are taking advantage of the context of a global event, like the Web Summit, to deliver value to the local community and ecosystem, while we help to introduce a tool that can prove very useful for all startups.”

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