Agency Agreement

• This document permits Ventures Together to collect funds from your individual angels. This is needed because of how we’re structured as a members’ club working on the basis of a trust arrangement (rather than working under an SPV or similar), as well as the regulatory set-up in the UK - without this agreement we would be at risk of handling client money, and would not able to collect the funds on your behalf.

• The agency agreement gives us permission to act as your agent to collect the funds and transfer it to you in one lump sum.

  • n.b. We sometimes colloquially refer to this as the “Wire Transfer Agreement” as it’s after this doc is signed that VT is permitted to collect and wire funds on your behalf.

• The document also supports the trust arrangements in place where one nominated representative of the angels will appear on the cap table (meaning you only have to deal with one signatory), while supporting the fact that each angel is still the beneficial owner of their own shares, so each needs to be bound to your investment agreement.

• A full explainer of the Agency Agreement below, in case your legal counsel raises any questions.

  VT Agency Agreement - explainer

SAFE side letter for Delaware companies (where applicable)

• This document tailors the standard SAFE agreement to meet both regulatory and VT-specific needs to support the trust arrangements where one nominated angel acts as the share trustee on behalf of other angels who remain beneficial owners of their own shares
• This clarity gives protection for both your company and the VT nominee.

Legal teams

• In rare cases (perhaps 2% of investments we run at VT), we’ve had questions from legal teams on these docs, and are happy to field any questions or make reasonable wording adjustments so that everyone has the comfort they need to proceed.