Termsheet - Key Practical Insights Before Signing

Signing a termsheet is a pivotal milestone in the fundraising process that defines the rules of the game for years to come. During this practical session, Karol Gałkowski from Syrena Legal will take you behind the scenes of venture capital negotiations, highlighting the critical clauses you need to pay close attention to before signing.

Key topics covered:

Understanding what is legally binding versus what is a declaration of intent,
Economic clauses: overview of how liquidation preference, option pools, and anti-dilution mechanisms actually work in practice,
Corporate governance: veto vs investor consent, influence of investor on daily management,
Reverse Vesting – good leaver vs bad leaver clauses,
Common red flags and traps.

About the Speaker:

Karol Gałkowski is an Attorney-at-Law and Partner at Syrena Legal, specializing in corporate law and venture capital transactions. Associated with the firm since 2018 following experience at international practices including Deloitte Legal, he regularly advises both VC funds and tech startups through complex investment rounds, convertible loans, and legal due diligence. Karol frequently guides founders and investors through high-impact deals, cross-border corporate flips to the US and UK, and dynamic equity structuring for scale-ups such as Authologic, Alokai, and Quantee.