June 07, 2015⬢
I’m super inspired by Bryce of Indie.vc open sourcing his term sheets, so it’s about time that I posted the Full Stack term sheets, too.
I’ve taken a couple of attempts at working together with other groups in Canada to release a true universal set of seed financing documents, much as the US has a handful of similar packages of documents to choose from. But, there hasn’t been an interest in moving particularly quickly. I’ve always shared these documents as examples – for both founders & funders – so it only makes sense to fully open source them. We completed over a dozen financings in a 2 year period, with 9 companies. About half of them were common stock deals using this Full Stack Common Seed term sheet.
We also have a convertible debt term sheet that we’ve used, but increasingly I’m convinced that convertible debt is not the right method for early stage financing, so I won’t be sharing it for now.
Thanks to Justin Young at Lawson Lundell for being a great partner in evolving these documents with us. You can find more awesome Vancouver-based lawyers that know startups in our tools section.
Everything in the resources folder is free to use, licensed under CC0 1.0 Universal.
Other examples/open source versions of term sheets and related legal documents in Canada: