Dear Founders
investing in you is a huge privilege for us. We want to support you in the exciting journey you are just beginning and sit in the same boat with you. We see ourselves as enablers and we intend to be the first institutional investor you speak to. The Incubation fund will invest mainly at angel and pre-seed stage, with follow-on investments up to Series A. We only invest in companies that emerge from the global Tenity incubation programs, where we have the most leverage to add value.
We invest throughout a two stages process:
1. “Initial Investment”
CHF 50.000 / SGD 70.000 / EUR 50.000 in cash
Requirements
- Accepted to our Tenity incubation program in Zurich, Singapore, and Nordics & Baltics (new for August 2023 intake)
- Signed Service Agreement with the local hub and Convertible Loan Agreement
- Company must be incorporated to receive an investment. If the company is not yet incorporated, we are willing to accept you to the program and sign the Service Agreement, with the requirement to incorporate during the program.
- Company is incorporated in a white-list country. If you are not incorporated in a white-list country, you must re-incorporate. Please check our program FAQs (under each Incubation Program page) for more information on white-listed countries.
- The founders have full-time working contracts with the company.
- Transfer of the money will be done to your company’s bank account after signing.
Terms
- Vehicle: The investment is done via a Convertible Loan with Luxembourg based Fund
- Condition Precedent:
The Borrower having been accepted to the Incubation Program.
The Lender having received a copy of the Service Agreement signed by the Borrower
- Principal Amount: CHF 50.000 / SGD 70.000 / EUR 50.000
- Interest: 0%
- Maturity: 18 month
- Subordinated
- Cap: CHF 2m post-money / SGD 2.8m post-money (2.50%FD)
- Conversion Events: Maturity Date, a Financing Round or a Change of Control.
- Board Observer: Right to appoint aboard observer (we do not take board seats).
- Financing Round Subscription Right: We want to invest in your subsequent rounds and request a super-pro rata investment right to invest up to CHF 250.000 or SGD 350.000.
- Additional Financing Round Subscription Right: Long term we like to have the option to let our LPs invest via Tenity owned SPVs.
“Follow-On Investments”
We will invest in your subsequent fundraising rounds post initial around CHF 250k / SGD 350k, which can be a debt round or equity round.
The decision is separately from the initial investment of CHF 50k / SGD 70k and will be evaluated case-by-case.
Requirements
- You have an external lead and Term Sheet
- We review the term sheet and our Investment Committee approves an investment
