WaterBridge Fast Forward Term Sheet

Investor
WaterBridge Ventures (“WBV”)
Company
[Company name]
Incorporation City
[Pune]
Founder(s)
[Sachin Bansal] [Hari Menon]
Investment Amount
INR 1 / 2.5 crores
Valuation Terms
15% equity stake for WBV (post funding)
Participation Right
Right to participate in the next funding (higher of 50% of the round or pro rata)
Conditions Precedent
  1. Incorporation of the Company and regulatory approvals
  2. Founder(s) employment, non-competition, non-disclosure and IP development agreements
Founder Vesting
5 year vesting (20% annually). Founder shares standard lock-in
ESOP
10%+ ESOP pool
ROFR, Tag Along
ROFR on any sale shares and tag along on all shareholders
Liquidation Preference
1x
Board
1 Director + Observer
Exit Rights
Standard exit mechanisms (IPO, Sale)
Reserve Matters
  • Future Equity or Debt raise
  • Amendments to the Company’s constitutional documents
  • Change in composition of the Company’s Board of Directors
  • ESOP grants > 1%
  • Key employees hiring
  • Significant expenditure (outside of normal business)
  • Mergers & Acquisitions. Winding up proceedings for Insolvency or Bankruptcy
  • Disposal, transfer or any dealing with IP, Assets of the Company
Information
Standard information and inspection rights
Expenses
Deal expenses capped at INR 1.5 lac
Valuation protection
Anti-dilution
Confidentiality
Non-binding, exclusive (30 days)
Date:
Signatures:
Founder(s)
WaterBridge Ventures