The term sheet, or letter of intent, is a document of the initial negotiations process and it describes the principal investments of the fund to a company. Most often, after the initial discussions with the owners of a company and acquaintanceship with the company itself, representatives of a fund prepare their suggestions regarding size of the investment, capital share, steps of the deal, closing and exit conditions.
Lithuanian VCA, taking into account the expansion of venture capital industry in Lithuania and observing the necessity to inform companies on usual investment conditions by venture capital funds, has decided to cooperate with GLIMSTEDT in preparation of a sample of term conditions and to recommend to use it for all the members of Lithuanian venture capital market.
