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Clifford Chance

Enhancing the creation of financing documents

Case study

Intelligent solutions that supercharge the creation of early-stage financing documents

Are you a start-up or investor interested in the Venture Capital Investment Model Agreements (VIMA) suite of documents? We have created simple and easy to use solutions that automatically generate documents based on the industry standard VIMA suite launched by the Singapore Academy of Law and the Singapore Venture Capital and Private Equity Association. 

Using either a chat bot or online questionnaire with some informational guidance, users can generate a Non-Disclosure Agreement, Series A Term Sheet, Shareholders' Agreement or CARE Agreement.

Get started by choosing one of the document solutions below.

CASE STUDY | RESEARCH AND DEVELOPMENT | CREATE+65

Documents

 

Non-Disclosure Agreement

The automated Non Disclosure Agreement (NDA) assumes that a company is providing confidential information about itself to an investor.

To generate an NDA please select an option below:

Use the chat feature

Use the online questionnaire

Series A Term Sheet

A Term Sheet sets out key terms and conditions that an investor/group of investors will subscribe to for shares in a company.

To generate a Term Sheet (Long or Short Form) select an option below:

Use the chat feature

Use online questionnaire

Series A Subscription & Shareholders Agreement

A Subscription Agreement sets out the terms and conditions that an investor/ group of investors) will subscribe to for shares in a company. A Shareholders' Agreement sets out the key terms and conditions regulating the affairs of the company and the rights and obligations of the investors and founders as shareholders of the company. To generate a Shareholders' & Subscription Agreement select an option below:

Use the chat feature

Use online questionaire

Convertible Agreement Regarding Equity (CARE)

The CARE Agreement is used in seed/early-stage (Pre-Series A) financing rounds. It is drafted on the assumption that an investor is making a cash investment in a Singapore incorporated private company, in exchange for receiving either shares in such company or cash upon occurrence of certain events. To generate a CARE agreement select an option below:

Use the chat feature

Use online questionnaire

FAQs

What are the Venture Capital Investment Model Agreements (VIMA)?

The VIMA comprise a set of standardised documentation for early stage financing rounds (Seed and Series A). Instead of starting from scratch, startups and investors can use the VIMA documents as a springboard to accelerate their discussions, saving time and reducing costs. The VIMA documents are designed to be flexible without being overly customisable, simple while still including necessary clauses that reflect industry norms, and balanced from a founder and investor standpoint.

Are the VIMA documents applicable for all financing deals?

The VIMA documents are meant to serve as a useful guide as to how early funding rounds are typically structured. Since the VIMA documents are not intended to serve a one-size-fits-all purpose, parties may need to tailor specific terms in the documents to suit their needs.

How do the automated VIMA document solutions work?

Whether using the chat feature or online questionnaire, the result is the same automated document - a Non Disclosure Agreement, Term Sheet (Long Form/ Short Form), Subscription or Shareholders' Agreement or Convertible Agreement Regarding Equity. The chat feature simplifies the drafting process by asking you questions in a conversational manner while the online questionnaire asks those questions in a smart form. Both methods of drafting include additional guidance information to help you draft the documents that are right for you.

 

Who created the automated VIMA document solutions?

Automation was done by Create+65 team based on the industry-standard VIMA documents launched by the Singapore Academy of Law and the Singapore Venture Capital and Private Equity Association.

Do VCs and startups still need to engage the help of a lawyer?

Yes, legal advice should still be sought. VIMA documents are intended to serve as a starting point for discussion, where relevant documents should be tailored to meet the specific legal and commercial requirements of the contemplated transaction. No document or information provided in VIMA should be construed as legal advice (including for any fact or scenario described in such documents or any assumptions made in relation to such documents).

Can the VIMA documents be used for a seed funding round?

The Term Sheet, the Subscription Agreement and the Shareholders' Agreement include options and rights that are more suitable for a Series A funding round. Amendments may be required if they are to be used for a seed funding round.

Do the automated document solutions retain confidential information?

The automated document solutions do not retain any confidential information.

Terms of use

The Automated VIMA Document Suite is provided only for your reference and has been developed for companies incorporated in Singapore. The Automated VIMA Suite has been jointly developed by the Singapore Academy of Law (SAL), Singapore Venture Capital & Private Equity Association (SVCA) and the VIMA working group which includes Clifford Chance Pte Ltd. The documents have been drafted based on Singapore law, incorporate Singapore law as the governing law and choose Singapore as the forum for dispute resolution. Clifford Chance Pte Ltd accepts no responsibility for the documents generated by the Automated VIMA Document Suite or your use of such documents.

Neither SAL nor any of the working group members or contributors take any responsibility for the contents of the model templates and expressly disclaim all liability with respect to actions taken or not taken based on any or all of the contents of this website.

By using the Automated VIMA Document Suite, you acknowledge and agree that there is no lawyer-client, confidential or unique relationship created or implied between you and Clifford Chance Pte and that your use of the Automated VIMA Document Suite does not constitute the provision of legal advice or other professional advice to you by Clifford Chance Pte Ltd.

The Automated VIMA Document Suite is provided on an "as is" basis and Clifford Chance Pte Ltd specifically disclaims all warranties, terms, representations and conditions whether express, implied or statutory, and including any warranties, terms, representations and conditions of merchantability, satisfactory quality or fitness for a particular purpose.

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