Term Sheet - Example of Evidence?

Hi there,

I’m applying through the exceptional promise track as a startup founder with previous (UK) work experience at a FAANG.

My startup received a few term sheets and was wondering if I can use this in the application under the Optional Criteria of Business Examples, Having led or played a key role in the growth of a product-led company.

I see two problems with this:

  1. Term Sheets or alike or not mentioned in the “Documents to be considered as acceptable evidence”
  2. Legally speaking, I’m not allowed to share these term sheets with anyone other than our lawyer or adivsor.

However, I do think it’s good evidence. So I guess the real question is, if it will help my application, how can I provide evidence of investment without sharing my term sheet?

In an ideal case, you want to wait for the transaction to happen, so you can show your company’s audited financials or updated captable/SHA with large investors. This is hard evidence which is irrefutable.

If the transaction is yet to happen, then terms sheet is a good start, but you might want to back it up with a few more documents to make a stronger case. After all, term sheets only signal intent and don’t guarantee anything.


Thanks for the feedback. I think I’ll submit prior to the transaction as time is sensitive at the moment. But I will provide further supporting documents (product, traction, current financials, etc)