Vircon Legal advised Appsilon on its follow-on seed financing round. The round closed on 24 August 2017 with USD 33,000 raised at a USD 760,000 post-money valuation from Arısan İnce. The round followed the initial seed transaction that closed in March 2017: see our note on the prior round.
Follow-on seed rounds executed with the same anchor investor sit in a structurally interesting category: they extend the company’s runway without resetting the broader investor relationship established at the initial seed stage. The same-investor continuity matters at this scale: same-investor follow-on rounds work when the documentation builds on the prior architecture cleanly, rather than asking the parties to renegotiate basics that were settled at the first closing.
Vircon Legal advised on transaction structuring, subscription documentation, valuation and dilution mechanics, governance updates reflecting the investor’s enlarged position, founder commitments and the post-closing corporate housekeeping required after the cap-table evolution.
Appsilon subsequently completed a Post-Seed round led by DCP: Diffusion Capital Partners in November 2017: see our note on the DCP Post-Seed round for the institutional anchor that followed the angel-only seed cycle.
For more on our early-stage practice, see our Startup Law page.
The Vircon Legal team on this matter was led by Managing Partner Erdem Mümtaz Hacıpaşaoğlu.
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