UK document automation provider Clarilis has launched an extensively automated Early-Stage Investment Suite (ESIS) for UK venture capital transactions.
Based on the British Private Equity and Venture Capital Associations (BVCA’s) revised model form documents, with additional content from UK top 30 law firm Addleshaw Goddard, the new suite streamlines the drafting process for corporate lawyers advising on early-stage venture capital investments. It follows Clarilis’ launch of an automated National Venture Capital Association suite for the North American market in May 2023.
The Early-Stage Investment suite includes articles of association, subscription agreement, shareholders’ agreement, registration rights agreement and disclosure and confidentiality letters. Addleshaw Goddard’s involvement includes providing additional market-standard content. This includes over 30 automated ancillary precedents and forms (term sheet, warrants, minutes, resolutions, appointments, filings, etc) and additional drafting options commonly seen in the market for the core BVCA documents.
James Quinn, CEO at Clarilis, said: “Since the BVCA substantially revised and updated their model form documents in 2023, we have received numerous requests from client firms to automate the BVCA suite. We are delighted to deliver a substantial automation here for the market with the corporate team at Addleshaw Goddard – including not only the BVCA forms but also all commonly used ancillary documents. Addleshaw Goddard’s corporate team has an excellent reputation and is extremely forward-thinking when it comes to digitisation of the practice of law.”
David Anderson, a partner at Addleshaw Goddard added: “We have been advising in the space for a long time and have a genuine interest in how the sector can evolve. This automation will accelerate document delivery while maintaining our hallmark quality standards and represents a significant advancement for our clients.”