Corporate Law · European Union
Raise or Invest With Venture Capital in Europe Without Signing Away What Matters
A venture capital round is more than money — it is a set of terms that decide control, dilution and who wins at the next round or exit. We match you, free of charge, with a lawyer who handles venture capital deals across your European country every day, for founders and for investors.
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Who this is for
A term sheet is a map of the next five years — and most founders read it for the first time at the table
Venture capital is equity investment in early-stage, high-growth companies, and a funding round is one of the most consequential moments in a founder’s journey. Beyond the headline valuation sit the terms that actually govern the relationship: liquidation preferences, anti-dilution protection, board composition, vesting schedules, veto rights and the conditions under which future rounds or an exit can happen. For founders, these clauses decide how much of the company you keep and how much control you retain as the business scales. For investors, they define the protection and upside that justify the risk of backing an unproven company. Because the terms interact with company law and tax rules that vary across Europe, the right lawyer is one who has closed venture rounds in your country. We match you, free of charge, with exactly that.
Why rounds go wrong
The valuation is the number everyone remembers.
The control terms are what everyone lives with afterwards.
Founders focus on the headline price while the real power shifts through clauses buried in the fine print.
Liquidation preferences that favour investors
A multiple or participating preference can mean investors get paid first — and sometimes twice — before founders see anything on an exit. Signed without understanding, it can quietly redirect the outcome of a modest sale.
Dilution and anti-dilution terms
Full-ratchet and weighted-average anti-dilution provisions behave very differently in a down round, and option pool sizing can dilute founders more than expected. Getting these wrong erodes the equity you are fighting to keep.
Control provisions hidden in plain sight
Board seats, veto rights and protective provisions decide who approves hiring, budgets, fundraising and a sale. A founder who signs a standard term sheet may discover too late that control has quietly moved to the investors.
What you get
A venture capital lawyer who protects your side of the table
We only match you with corporate lawyers who handle venture capital rounds regularly in your target country.
Term sheet review
Your lawyer decodes every clause — preferences, dilution, vesting and control — and flags the terms that will matter later, so you negotiate from understanding rather than habit.
Negotiation of key terms
Liquidation preferences, anti-dilution protection, board rights and reserved matters are negotiated to balance founder control against investor protection, carefully matched to your stage, traction and bargaining position.
Investment documentation
Subscription agreements, shareholders’ agreements and articles are drafted and reviewed so the documents faithfully reflect the deal you actually agreed, with nothing slipped in at drafting.
Cap table and ESOP planning
Option pools, vesting schedules and cap table modelling are structured so key hires are incentivised and founders understand exactly how much equity survives the round and future dilution.
Coverage
Venture capital lawyers across Europe
Company formation, shareholders’ rights and tax treatment are national and differ across Europe’s start-up hubs, so the right lawyer is one who works with your country’s venture ecosystem on a regular basis. We match cases across the following countries and beyond:
Frequently asked
Venture capital — common questions
What is a term sheet?
A term sheet is a summary of the main commercial terms of an investment round — valuation, amount raised, share class, preferences, board rights and more — agreed before full legal documents are drafted. It is often mostly non-binding, but certain provisions, such as confidentiality and exclusivity, can bind, so it should always be reviewed by a lawyer.
What is a liquidation preference?
A liquidation preference determines the order and amount in which investors are paid on an exit or liquidation. A standard preference returns the invested amount first; a participating preference may also share in the remaining proceeds, and a multiple increases the investor’s return. It directly affects what founders receive.
What is anti-dilution protection?
Anti-dilution protection adjusts an investor’s shareholding if the company later raises at a lower valuation. Weighted-average protection is less severe for founders, while full-ratchet protection adjusts the price to the lower round entirely. The type chosen matters a great deal in a down round.
What is vesting and why does it matter?
Vesting means founder or employee shares are earned over time rather than granted outright, typically over several years. It protects the company if someone leaves early, and the schedule — plus any acceleration on exit — is a key term that both founders and investors care about.
Do I need a lawyer before signing a term sheet?
Strongly advisable. A term sheet fixes the framework that the binding documents will follow, and the wording of key terms can be hard to change later. A lawyer can explain the real-world effect of each clause before you commit to the deal.
What is the difference between seed, Series A and later rounds?
A seed round is an early raise, often using convertible instruments such as SAFEs or notes, to fund initial product and traction. Series A and later rounds are priced equity rounds with set valuations and fuller governance terms. Each round carries different documents and expectations.
Free case review
Raise or invest on terms you actually understand
Tell us about your round — whether you are raising or investing — and we’ll connect you with a venture capital lawyer who handles such deals in your country every day, free of charge, with no obligation to hire.