Open Source Investment Documents Make Seed Round Easier

Tuesday Mar 2nd 2010 by Developer.com Staff

Lawyers provide free seed series funding documents to open source entrepreneurs.

Seed financing can be costly and time-consuming, which is why Ted Wang of Fenwick & West put his seed round documents online for open source entrepreneurs to use for free.

"The legal documents to do a seed round should be a lot less complicated and cheaper than those for a major round of funding," said Ben Horowitz, General Partner of Andreessen Horowitz. "We think Ted's work is a great start towards that goal."

According to the press release, Wang's documents, located at SeriesSeed.com, have already been used to help fund several companies such as Blippy.com and Civic Solar.

A new category of seed investors has emerged to fund this early stage of the company's growth, but the financing documents that lawyers were using were from a past era when it took several million dollars to fund a company, the press release said.

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