Clara and several prominent venture capital firms and law firms launched the MENA Series A Term Sheet in December 2020 to provide a high-quality template to support equity funding rounds for the Middle East and North Africa (MENA) startup ecosystem. We are proud to announce that the document has been updated to reflect the latest market approach and has an updated set of endorsing partners.  The Term Sheet has been developed for use in common law jurisdictions, such as Abu Dhabi Global Market, the Dubai International Financial Centre, the Cayman Islands and British Virgin Islands.

As we continue to develop this transformative initiative, we invite startups and investors to explore the opportunities it presents, driving more common standards in the region and empowering participants in the MENA startup landscape with high-quality, market-relevant, fair and balanced terms to form the basis of equity funding rounds.

A Series A Term Sheet is a preliminary, non-binding document outlining key terms and conditions for investment during a startup's Series A funding round, which is a crucial stage of early-stage financing. It covers aspects such as valuation, investment amount, investor rights, liquidation preferences, and other critical terms that set the foundation for further negotiations.