The Four Phases of Venture Capital Deals
Phase 4 - Closing
(Slide 36  of 50)

• The fourth phase, closing, involves the signing of detailed funding documents, delivery of securities and receipt of funds.
• Typical funding agreements include an investment or stock purchase agreement, a stockholders agreement with founders and management, an investors rights agreement providing registration rights to investors, share voting agreements and employment and non-compete agreements for founders and management.
• After closing, the investor’s contractual rights delineated in the agreements signed at closing documents must be observed and investor expectations managed.

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