Loki raised its seed round from Startup Wise Guys, closing on 30 October 2019. We were at the company’s side throughout. The round amount wasn’t disclosed, though the press reported the investment at a valuation of roughly EUR 2 million (eGirişim). Startup Wise Guys was the round’s sole investor. Our history with Loki goes back further: we also advised the company on its June 2017 and December 2017 rounds.
A first institutional cheque from a foreign accelerator fund means running two legal systems at once on the company side. The fund’s standard documents drafted for its home market, programme-linked participation terms and equity mechanics meet Turkish corporate law’s capital-increase rules and formalities at the same table. On this round we made the two systems work as one structure: we shaped the fund’s instruments to operate cleanly under Turkish law, balanced the warranty package against the realities of an early-stage company, and delivered the cap table and IP chain to the standard international investors expect.
The round closed as planned. The record is also on Crunchbase.
The Vircon Legal team on this matter was led by Managing Partner Erdem Mümtaz Hacıpaşaoğlu.
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