Venture Capital

Venture capital plays a key role in the development of the innovation-driven economy. Therefore, we consider that an important part of our efforts as an ecosystem actor is helping improve legal conditions for venture capital financing development in Belarus.

Aleinikov & Partners acted as legal advisor for the AID-Venture program implemented with the support of the USAID. In cooperation with international partners, we worked on amendments to the national legislation to develop the country’s venture capital ecosystem.

Aleinikov & Partners assisted a group of angel investors with establishment of Angels Band, the first Belarusian business angel network.

A turning point in the team’s legislative work is the introduction of provisions concerning option agreements, convertible loan agreements, indemnity, non-competition, non-solicitation, and other instruments of the "English law" which are widely used in the world practice for structuring venture transactions and which are unique to Belarus, into Presidential Decree On Development of Digital Economy.

Being in the waves of change allows us to successfully advise market participants on venture capital. Aleinikov & Partners has proven track record in representing both investors (private and institutional, as well as their syndicates) and start-ups (or founders) at all stages of venture capital financing.

What we can help with:

• Legal due diligence of investees;
• Preparation of projects and companies for investment and business restructuring for investment transaction parameters;
• Searching for projects and companies for investment and/or for a project investor;
• Assisting in investment transactions (convertible loans, SAFE, equity financing);
• Drafting incentive programs for employees of funded companies;
• Exits;
• Fund formation and corporate venturing;
• Mentorship agreements.

Projects:

Advising the Development Bank of the Republic of Belarus on venture-related issues within the frames of the program entitled “MSME Access to Finance Project” to be jointly implemented with the IBRD. Assisting in drafting laws to be developed to amend the Belarusian legislation in order to create legal conditions required by the DBRB for financing venture projects.

Advising Haxus venture fund on venture activities in Belarus and structuring investment transactions with Belarus-based startups. Haxus is founded by Yuri Gurski, a prominent Belarusian IT-enterpreneur. The fund's portfolio includes world-known Masquerade, AIMatter, as well as Flo and Prisma.

Advising Infrafund RVC, a managing partner of the Russian-Belarusian Venture Investment Fund, in a seed financing of RocketData.

Advising LungPass, a product of Healthy Networks, on raising a funding round from both the Singaporean Verge Healthtech Fund 1 and Estonian Sentosa Capital.

Advising RocketBody, a developer of AI fitness tracker, on raising round A investment from Bulba Ventures. LDD of IP, development of term sheet and other transaction documents, advising on establishment of the Delaware subsidiaries, which corporate structures are to be participated by the Belarusian founders.

Advising Clevetura, a developer for an intuitive keyboard Click&Touch, on attracting investments in the startup. LDD of IP, formalization of relations within a team, development of incentive schemes for key employees, advising in the course of approving transaction documents by the investor. 

Advising a syndicate of angel investors, members of Angels Band, on venture capital financing of LungPass. The transaction became the first of its kind structured via convertible loan agreement introduced by the Presidential Decree On Development of Digital Economy.

Advising Quattro Capital, an investment company, on seed financing of RocketBody.

Advising a syndicate of VCs, which are Haxus venture fund and both private investors Yury Melnichek (co-founder of Maps.me and AIMatter) and Leonid Lozner (co-founder of EPAM Systems), on $500K seed investment in OneSoil.

Advising AIMatter, a maker of the Fabby computer vision app aquired by Google, on investment-related issues.