4 min readJan 11, 2023

The main documents in a fundraising round for a startup typically include a business plan, pitch deck, financial projections, and term sheet.

  1. Business Plan: A comprehensive document outlining the company’s strategy, financial projections, and operational plans. It is used to convey the company’s vision, mission, and growth potential to potential investors.
  2. Pitch Deck: A shorter, more visual version of the business plan, used to give investors a quick overview of the company’s strategy and potential. It typically includes slides on the company’s team, market opportunity, product or service, financial projections, and ask.
  3. Financial Projections: Detailed projections of the company’s financial performance, including revenue, expenses, and profits. These projections are used to provide investors with an idea of the company’s potential financial performance.
  4. Term Sheet: A document outlining the terms and conditions of the investment round, including the amount of funding being raised, the valuation of the company, the type of securities being issued, and the rights and preferences of the investors.

These are main one but some company also have a Executive Summary and other financial statement, that help to have an extensive details of the company situation.


There are several legal documents that may be required in a fundraising round for a startup, depending on the specifics of the transaction and the jurisdiction in which the company is based. Some of the most common legal documents include:

  1. Incorporation documents: These include the articles of incorporation or the company’s charter, which set out the company’s purpose, management structure, and initial shareholders. This would be the initial document that was filed to legally create the company.
  2. Stock purchase agreements: These agreements are used to document the sale of securities in the company, such as stock or options. They set out the terms and conditions of the sale, including the number of shares being sold, the price per share, and the rights and obligations of the parties.
  3. Stock option plan: Some companies provide an option for their employees, consultant and advisor, to purchase stock in the company at a later date. This plan document would outline the terms, like eligibility, options limit, exercise period and process of the plan.
  4. Secured promissory notes: These are debt instruments used to document loans made to the company by investors. They set out the terms of the loan, including the interest rate, repayment schedule, and the collateral securing the loan.
  5. Stockholders agreements: This agreements provide information on the rights and obligations of the stockholders of the company. It usually define matters like rights to approve decision and information, transferability of shares and protective provisions like tag-along rights, drag-along rights and rights of first refusal.
  6. Confidentiality Agreements: are agreements that are used to protect the confidentiality of proprietary information shared between parties. This includes NDA (non-disclosure agreement) where you keep the company information confidential and not share it with any other third parties and also another type is (mutual NDA) that protect both side information during the fundraising process.

These are some of the key legal documents that may be used in a fundraising round, but additional agreements or documents may also be required depending on the specific circumstances. It is important to seek the advice of a lawyer to ensure that all of the appropriate legal documents are in place and that they are consistent with local laws.


In addition to the legal documents, there may also be other documents that are needed in a fundraising round for a startup. Some examples include:

  1. Financial statements: These include the company’s balance sheet, income statement, and cash flow statement. These statements provide investors with a detailed picture of the company’s financial health and performance.
  2. Investor relations materials: These may include presentations, fact sheets, and other materials that are used to educate investors about the company and its growth potential.
  3. Customer and partner agreements: Some companies also include agreements or letters of intent from customers and partners that demonstrate the company’s ability to generate revenue and provide an idea of the company’s current stage of development.
  4. Legal opinion: Some investors may require a legal opinion from a lawyer that confirms that the issuance of the securities is being made in compliance with applicable laws and regulations.
  5. Due Diligence questionnaires: These are the questionnaires that companies provide to the investors to understand the company’s operations and capabilities, it’s a way for investors to evaluate their investment decision.
  6. Operating agreement/shareholder agreement: This is especially useful for companies with more than one founder/shareholder. This document outlines the rights and responsibilities of each party, management structure and governance of the company, in addition to outlining the rights and responsibilities of shareholders.

It is worth noting that each fundraising round and each company is different, and the list of required documents can change accordingly. It’s best to work closely with an experienced attorney and other professional advisers during the fundraising process to ensure that all of the necessary documents are in place and that they are structured to support the company’s objectives.




Creator, Builder ⛩🀄️ Financial Services Lawyer & Entrepreneur. LLM in Financial Services Law and Corporate Law