Downrounds, anti-dilution clauses, or pay-to-play mechanisms – these instruments protect investors, but they can also spark conflicts. In this deep dive, Constanze Hachmann and Lorenz Jellinghaus from Lutz | Abel explain the legal background of Full Ratchet vs. Weighted Average and shed light on how pay-to-play mechanisms work.
The legal perspective will be complemented by Dr. Nicholas Ziegert, who will share insights from his practice as an angel investor on how to prepare as an investor without blocking the company’s development. In addition, the speakers will highlight potential conflicts of interest between angels and VCs and provide tips on how to identify and navigate them early on.
Participants will gain practical insights into how to safeguard their investments, act strategically, and collaborate constructively with the startup at the same time – accessible, directly actionable, and hands-on.
