Angels Den has secured an exclusive arrangement with Edwards Wildman, an international law firm, to provide seed funding ‘standard’ investment documentation free of charge for any companies that are members of the Angels Den network and who receive an investment from our Angel investors.
Edwards Wildman has a strong track record in the startup community, annually advising on hundreds of venture capital investments, and is committed to supporting entrepreneurs and early stage businesses.
Edwards Wildman understands that navigating through the maze of legal issues can be a difficult and painful journey for startups without an experienced guide. The dilemma these companies face, however, is obvious and always the same – legal advice is required but is often too expensive at such an early stage.
The solution: Edwards Wildman has worked with Angels Den to create a new set of free 'standard' seed funding investment documentation that fairly balances the interests of Angel investors and the investee company. The service has been tried and tested by some of the most experienced Angel investors and is now available for use in all Angels Den investments in the UK.
This process normally costs at least £5k for the entrepreneur alone, but there is no charge for legal fees when raising funding through Angels Den and using the Edwards Wildman documentation. The investee company will only be asked to sign up as client of Edwards Wildman on completion of the seed funding round and agree to use reasonable endeavors to instruct Edwards Wildman on future legal advice matters, so this is truly a free service.
By signing up as a client with Edwards Wildman, you will also become eligible to apply for their Helping Innovators Thrive (HIT) Programme. The HIT Programme is another innovative legal service provided by Edwards Wildman and designed to help early stage businesses receive essential legal advice as they develop. Under the HIT Programme, payment for certain legal fees is usually deferred until the business is in profit or has received a further significant round of funding. If neither of these happens (and there is no exit) then these deferred fees will not be payable. If the business does, however, become profitable or receives a further significant round of funding, the business only has to pay back the deferred fees that are due (with no interest or 'success' fee applied). Any business that has received funding through Angels Den will become automatically eligible for the HIT Programme.
Edwards Wildman and Angels Den are dedicated to helping innovators thrive and are proud to partner together on this initiative and offer Angels Den members a fantastic service which will be highly beneficial for their growing businesses.
For more information about Edwards Wildman click here.
To read more about the HIT Programme, please click here.