A standardised Convertible Loan Agreement for the Belgian ecosystem
The S1 Convertible is a standardised convertible loan agreement (CLA) for early-stage financing of Belgian startups.
Created in close partnership with several of Belgium’s leading law firms, the goal of the S1 Convertible is to provide an easy-to-use and balanced template that simplifies early-stage fundraising for both entrepreneurs and investors.
Entrepreneurs should be able to focus on building their business, and not be hindered or slowed down by unnecessary money, time and effort spent on legal support in the early days.
The S1 Convertible terms are intended to be balanced, taking into account both the startup’s and the investors’ interests.
There is a trade-off between simplicity and comprehensiveness, so while not every edge case is addressed, we believe the S1 Convertible covers the most pertinent and common issues.
To safeguard its ‘plug-and-play’ character, we have included a matrix to provide guidance to both the founder and the investor about how the S1 Convertible is structured as a balanced document and where any proposed changes are located on the founder-friendly versus investor-friendly spectrum.
Parties are encouraged to have their lawyers review the S1 Convertible if they want to, but in principle, the S1 convertible only requires agreement on the commercial terms between the start-up and the investor.
Laurens De Poorter
Founder, Syndicate One
Founding Member, Syndicate One
Partner, Monard Law
Syndicate One and the endorsing law firms do not assume responsibility for the contents of, or the consequence of using, any version of the CLA or any document found on our website. Before using the CLA, you should consult with a lawyer licensed in the country where your company has been incorporated.
We fundamentally believe in Belgium's potential as a key entrepreneurial hub in Europe. And while the local tech ecosystem has come a long way, we're not there yet.
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