🇹🇷Türkçe okuyucu musunuz? Bu sayfanın Türkçe versiyonu:Startup Yatırım Terimleri: SAFE’ten Exit’e Kurucunun Sözlüğü →
Every founder walking into a financing hits the same wall: the term sheet is American, the concepts are Delaware, and the consequences arise under Turkish law. This page collects the terms that reach the table from first cheque to exit: each linking to a glossary entry written with worked examples and Türkiye practice.
Structuring the round
- SAFE (Post-Money): the pre-priced-round workhorse
- Valuation cap: insurance on the conversion price
- Reading a term sheet: the five clauses that move money
- Cap table: reading the ownership map
- Pay-to-play: the hard round’s loyalty test
Preferences & protection
- Liquidation preference & anti-dilution: with a numbers-on exit scenario
- Full ratchet: the harshest formula, caged
- Super pro-rata rights: the right to increase ownership
- ROFR: on existing-share sales
- MFN clause: why quiet side letters leak
The contract layer
- Penalty clause (cezai şart): how Turkish law enforces covenants
- Side letter: one investor, extra terms
- Articles of association: where privileges actually live
- General assembly: where veto lists get real
- Signature circular: the closing’s paperwork gate
Vehicles & structures
- GSYF: Türkiye’s regulated VC fund
- SPV: one investment, one wrapper
- Five key points of a flip-up: before you move to Delaware
- Financial assistance (TTK 380): the Turkish limit on LBOs
- Joint-stock company: the default investment vehicle
Exit & M&A
- Completion accounts: price-adjustment mechanics
- Locked box: fixed price, strict rules
- Disclosure schedule: how known risk gets allocated
- Earn-out disputes: with a prevention-clause map
- Bring-down certificate: signing meets closing
If the concept you need isn’t here, the full glossary holds close to a thousand entries, all written for Türkiye practice. For a live file on your desk, book a 30-minute intro call.
The team you will work with in this area
Click a name for the profile.
E. Mümtaz HacıpaşaoğluManaging PartnerCross-border deal advisory, crypto-asset regulation and founder-side M&A
