We are excited to be supporting Mike and the Europas and look forward to welcoming a new company into the portfolio.
The loan will convert into equity at the startup’s next funding round on the same terms as the new investor (i.e. no discount) and will not be interest bearing. The loan will be ‘plain vanilla’ in all other respects (i.e. no additional rights). The winner will have a week to decide whether to take the loan or not.