Industry Practice · Delhi NCR
Venture Capital Lawyer in India
From term sheet to closing — VC documentation that investors and founders both trust.
200+
VC Rounds Documented
₹2,000Cr+
VC Investment Value
50+
VC Fund Clients
The Industry Landscape
Venture capital investment in India has produced some of the world's fastest-growing technology companies, but the legal documentation behind those investments must be built to survive disputes, bridge rounds, down rounds, and eventual exits. Corpus Juris Legal advises both VC funds and their portfolio startups — term sheet negotiation, round documentation, ESOP structuring, founder liquidity, and exit planning. We understand both sides of the table, which means our advice is commercial as well as legally precise.
- Term sheet review and negotiation — VC investment terms
- Seed, Series A, B, C round documentation (SHA, SSA, CCPS)
- ESOP plan design, vesting schedules, and exercise documentation
- Founder liquidity structures — secondary sales and structured exits
- Anti-dilution provisions and preference waterfall modelling
- Down round restructuring and investor consent management
Frequently Asked Questions
What is the difference between CCPS and CCD in a VC investment?+
CCPS (Compulsorily Convertible Preference Shares) are preference shares that must convert to equity at a specified trigger (typically IPO or timeline). CCDs (Compulsorily Convertible Debentures) are debt instruments that convert to equity. CCPS is the standard instrument for most VC investments in India; CCDs are used when a debt structure is preferred for tax or regulatory reasons.
What anti-dilution protection should a VC investor insist on in India?+
Broadly-based weighted average anti-dilution is market standard in Indian VC transactions — it adjusts the conversion price on down rounds based on a formula that accounts for all outstanding securities. Full ratchet anti-dilution (which adjusts to the lower price without any weighting) is generally considered investor-unfriendly and may deter future investors.
How are ESOP pools structured in Indian VC-backed companies?+
ESOP pools in Indian startups are typically 10-15% of the fully diluted capital, established before or alongside a funding round. Options vest over 4 years with a 1-year cliff (standard market practice). Tax treatment: discount at grant is perquisite income; capital gains on sale. DPIIT-recognised startups get tax deferral benefits on ESOP taxation.
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