Slide 17 — Our Proposed Terms (Fund III Factsheet)

What this slide is

The legal-and-economics page. Eleven term-sheet lines covering: domicile, management entity, ownership, focus, size, duration, fee, carry, and service providers (legal + admin). No prose. Just terms.

Why it’s here

This is the deal-page. After 16 slides of narrative, an LP needs to know: What am I actually agreeing to? Standard 2/20-shape terms with a 1.3× hurdle, EuVECA domicile, Austrian AIFM, €50M target, 10+2 duration. No surprises.

This slide is also the proposal flag — “Domicile: Proposal: Austria / EuVECA fund.” The word “Proposal” matters: terms are pre-final, LPs can negotiate. That signals openness; locked-down term sheets are intimidating.

What’s most important to surface

€50M target size is the keystone. This is the answer to the LP’s first question — how big is the fund? — and it’s been signaled across slides 4, 7, and 16. This is where it’s locked in. Visually anchor the slide on this number.

1.3× Hurdle & 20% carry is the LP-friendly economics signal. Standard carry (20%) with a 1.3× preferred return — meaning LPs get 30% return on contributed capital before GPs see carry. That’s slightly more LP-friendly than a 1.0× hurdle and meaningfully friendlier than no hurdle. Worth visual emphasis: this is a fair deal.

2.0% p.a. average management fee (frontloading) is the conventional fee. The “average” + “frontloading” wording is honest — it likely means 2.5% in early years and 1.5% in later years, averaging to 2.0%. That structure is standard and front-loaded fees are normal for small funds (where cost of operation is high relative to AUM).

EuVECA / AIFM Austria / Schoenherr / Argon is the regulatory and service-provider stack. EuVECA = European Venture Capital fund passport, allows cross-border marketing across EU. AIFM = Alternative Investment Fund Manager regulated by Austrian financial regulator. Schoenherr is a top European law firm (Vienna HQ, pan-EU footprint). Argon Tax Advisors handles fund admin. The names matter for LP comfort: these are real institutional service providers, not corner shops.

Management & Ownership: Lucanus, Stephanie, Johannes, Ekaterina ties to slide 3 — same four partners. The fund’s economics are owned by the same four people pitching the strategy. No silent backers, no economic surprises.

The 4–5 year investment period inside a 10-year duration is conventional for a Pre-Seed/Seed fund — disciplined deployment. Worth noting because it implies ~6 deals/year × 4-5 years = 24-30 deals, matching the “30 category-defining startups” claim from slide 16.

Composition risk

This is the simplest slide visually — a key/value table. Source uses right-aligned labels and left-aligned values, with the watercolor brand wash as the only background element. The risk is that this slide feels too plain after 16 slides of dense narrative. That’s actually right — the term sheet should feel calm, formal, “official.” Resist the urge to decorate.

The slide also closes the deck. There’s no closing-statement / call-to-action / contact-line. Worth deciding whether to add one for the v0.1.0 — “Next steps: data room, references, Q&A” — or leave it intentionally bare so the conversation moves to the actual cap-call mechanics in person.

Visual hierarchy I’d suggest

Headline + subhead — Our proposed Terms / Fund III Factsheet
€50M target size — visually elevated within the table (bigger, bolder, color-accented)
1.3× Hurdle & 20% carry — second visual emphasis
The remaining nine terms — clean, equal-weight, calm
Optional: a single closing line (“Next steps: data room access on request”) — discuss with the user before adding.