A Unified Framework for South African Venture Capital.
The South African Venture Capital Model Documents initiative establishes clarity, consistency, and efficiency to venture financing across the fundraising ecosystem. The initiative is a formally endorsed South African initiative of SAVCA, serving as a key partner in the ongoing development alongside the country’s leading investment funds and attorneys, stewarded by Dommisse Attorneys.
The documents have been developed following more than a decade of research, collaboration and experience in Venture Capital, as well as through consultation with leading South African Contributors, comprising top venture funds, investors, founders, entrepreneurs and law firms.
By aligning with international best practices and adapting them for local use, these documents establish a trusted, market-standard foundation for all participants of the fundraising ecosystem.
Objectives:
Efficiency and Consistency:
Reduce negotiation friction and transaction costs.
Alignment with Global Practice:
Reflect locally and internationally familiar terms and structures.
Local Accessibility:
Enable more lawyers to competently service the venture market.
Transparency:
Allow funds, founders, and counsel to quickly identify deal variations and close deals without uncertainty or delay.
Principles:
- Plain language and accessible drafting.
- Clear and functional terms over embellishments.
- Local legal accuracy rooted in the South African Companies Act and best practice principles related to Venture Capital and Private Equity.
- Open collaboration and iterative refinement through community input.
Stewardship
This project is stewarded by Dommisse Attorneys, in collaboration with SAVCA and a working group of leading funds, investors, and legal practitioners. Dommisse Attorneys serves as the custodian and update lead for ongoing document revisions.