When venture capital teams help clients with fundraising rounds, closing deals on time is crucial; emerging companies depend on the capital to grow their business and pay employees. When these transactions involve countless signers, multiple closings, and unique versions of closing books for each investor, legal teams lose valuable time managing the signature process, tracking voting thresholds, and creating closing books.
4 Major Pain Points in Venture Capital Transactions
Controlling Due Diligence
The size of venture capital deals does not typically warrant the purchase of a traditional virtual data room. As a result, sensitive documents are shared through less secure manners.
These deals can have a massive number of signers. Identifying all signers, creating pages, sending and tracking packets, and creating final versions consumes a lot of low-value time.
Creating Custom Closing Books
Different versions of closing books need to be made for each investor set. This process becomes more time-consuming when there are several closings for a single transaction.
Juggling Simultaneous Projects
Legal teams are often dealing with numerous venture capital deals at the same time, making it difficult to track the status of all deliverables.
Bringing Order to Complex Transactions
Convert the manual, tedious process of managing transactions into a secure collaborative workspace with Litera Transact.
When you are working on venture capital transactions—Litera Transact can help you close deals faster by allowing you to leverage your previous work, tracking voting thresholds, adding speed to the signature process, and creating custom closing books in minutes.
Remove approximately 70% of the steps in the deal process, which reduces write-offs and allows legal teams to focus on higher-value work.
Centralized diligence and closing checklists make it easier to communicate with all parties by providing real-time updates.
Save 60–80% of time spent managing the signature process and create large closing book sets in minutes.
Protect clients’ information by sharing documents within a secure platform and ensure collection of all final executed documents.