This document is an electronic record in terms of the Information Technology Act, 2000 and the rules framed thereunder. This electronic record is generated by a computer system and does not require any physical or digital signatures.
1. What we do
We provide a platform through which the new and growing businesses and registered users can interact with each other for the purpose of evaluating a potential business relationship We enable users of the Platform to register either as a Startup (defined below) or as an Investor (defined below). Registered users are hereinafter referred to as Members. Through the tools and services provided on such platform, We facilitate the validation of the business ideas provided by the Startups as well as effective and secure communication between such Startups and other users including Investors. We may also provide certain offline services including but not limited to conducting seminars, workshops and providing an opportunity to the users of the Platform to interact with other users of the Platform offline.
Affiliates of LetsVenture sponsor and manage the [LV Angel Fund], an Angel Fund duly registered with the Securities Exchange Board of India (SEBI) having registration number [IN/AIF1/18-19/0585] (LV Angel Fund). The Platform may market the operations of the LV Angel Fund to Investors on the Platform.
2.1  You can access the Platform without registering for an account. However, to use several features, You will need to register and create a profile with accurate and complete information. Your profile must be your own or of a person or entity You are entitled to represent and You shall not use or provide any information that is offensive or that violates any third party’s rights.
2.2 Account de-activation:   You can choose to de-activate Your account with LetsVenture maintained on the Platform by notifying firstname.lastname@example.org. Please note that any cancellation / deactivation of Your account shall be subject to the payment terms applicable to You.
3.1 Sign-up:  If You are a business looking for advice, mentors, prospective employees or to connect with the investor community, You have to register as a ‘Startup’ (Startup).Depending on Your requirements/features you wish to access, You shall provide basic or detailed profile data. We may provide You with features where you can opt to restrict visibility of specified parts of Your profile to the public or other Members of the Platform. We strive to restrict visibility of these aspects only to those users that have represented they fit within the categories You have identified. We cannot, however, guarantee that users who access this restricted information will not distribute that information to other persons.
3.2 Features:  LetsVenture provides You with various features such as ‘Investor Connect’, ‘Featured Deals’, ‘LVFirstCheQ’, ‘Stealth Mode’ and others on the Platform. Each of these features enable different forms of interactions with other users of the Platform. You may be required to accept special terms and conditions, execute additional documentation or pay additional fees to access some of these features. For instance, You will have to enter into an arrangement with Us to included in the ‘Featured Deals’ feature. When You opt for certain features, based on Your authorization, We may be required to reach out to Investors relevant to You using the built-in recommendation engine algorithms or based on our non-automated database.
3.3 Stealth Deals:  We provide ‘Stealth Deal’ modes, a feature wherein the Startup has the right to choose which Investors can access its profile and visibility of Your detailed profile shall be restricted only to such Investors.
3.4 Fundraise:  You acknowledge that You are not a publicly listed company and Your securities are not registered, or required to be registered, on any stock exchange in any jurisdiction. In the event You and any other Member of the Platform choose to engage in a business relationship, whether or not a proposed investment into the Startup, the terms and conditions of such relationship shall be agreed between the parties to such relationship and LetsVenture shall not be responsible for the same. Any transaction in securities that You may offer or conclude with any other Member of the Platform shall be offered, issued, allotted or transferred in strict compliance of all applicable laws including but not limited to private placement rules under applicable securities laws. Our Platform has an internal mechanism to restrict the number of Investors that view the detailed profile to 200 by default thereby making it compliant with the applicable laws. However, it shall be Your responsibility as a Startup to comply with the provisions of applicable laws including the Companies Act, 2013 and the private placement rules thereunder.
3.5 Verification:  LetsVenture may, in connection with making available certain features of the Platform to You, require certain information or documents to verify details provided by You including but not limited to identity, constitutional information or authorization. In case You do not provide such information, You may be unable to access certain features of the Platform.
3.6 Investor Reporting:  In the event You were part of the ‘Featured Deals’ feature and your interactions with Investors on the Platform results in successful completion of a Fundraise, You shall make sure that such reporting including such information, documents, business metrics and financial metrics as LetsVenture may require, shall be shared through the Platform for reporting to Investors who have concluded an investment in the Startup.
4.1 Sign-up:  In case You are a sophisticated investor interested in exploring opportunities to engage with early-stage companies and venture capital undertakings in the capacity of an advisor, mentor or investor, You have to register on the Platform as an ‘Investor’ (Investor). Once you register by providing your profile details, LetsVenture may contact You before approving Your Investor account on the Platform. You shall be eligible to use the features of the Platform available to an Investor only after Your registration has been approved by LetsVenture for the same. Depending on the information you provide such as interests and prior investments, the Platform will display Members of the Platform with whom You may wish to connect.
4.2 Eligibility: By applying for an Investor account on the Platform, You confirm that You are a sophisticated investor with personal or professional experience assessing the short term and long term business prospects of early stage companies and venture capital undertakings and understand the risk of investing in such businesses, including the high likelihood of loss and long period of illiquidity. You further confirm that You have prior experience in investing in start-up, emerging and early stage ventures; or have promoted or co-promoted more than one start-up; or are a senior management professional with at least 10 years of experience; and have net tangible assets of INR 2 crores excluding your principal residence. You acknowledge that you are capable of evaluating the merits and risks of such investments, are able to incur a complete loss of such investment without impairing your financial condition and are able to bear the economic risk of such investment for an indefinite period of time.
4.3 Features: We provide several tools and services for you to explore and evaluate Startups including access to a Startup’s investor deck, founder video, traction, financials and messaging the founders depending on the privacy settings chosen by each Startup. We also display and classify Startups under several categories such as ‘Featured’, ‘Trending’ and ‘Recommended’. This classification is made by our software algorithms and offline analysts team based on your prior investments, sector interests, other information provided by You and interactions of other Members of the Platform with such Startup. We may not display all Startups that meet Your criteria or all Startups We display may not satisfy your criteria, but these classifications are made on a best efforts basis. We also provide features to follow a Startup’s profile and/or progress through different tools on the Platform. Some of these features are available based on whether You have previously invested or committed to invest in a particular Startup.
4.4 Syndicate: ‘Syndicates’ are smaller social groups of Investors on the Platform created by a marquee or lead Member whose deal flow is shared with other Members in the Syndicate. Joining a Syndicate allows an Investor to follow investment commitments being made by the Syndicate and co-invest in such deals based on the lead Investor’s discretion.
4.6 Investment Vehicles: A Startup may, in consultation with the lead Investor or other representatives, require or provide an option for You to invest through certain investment vehicles such as alternative investment funds and special purpose vehicles. The terms and conditions of Your investment through such vehicle shall be governed by a separate agreement executed with You by such vehicle and/or the Startup.
4.7 Investment Vehicles: As an Investor, You may also be allowed to create a profile on behalf of an entity such as investment funds, incubators, accelerators, portfolio manager, investment banks or family offices (Enterprise).You represent that you are duly authorized to create such profile and represent the Enterprise on the Platform and that your actions on the Platform shall be binding on the Enterprise.
4.8 Risks: You acknowledge that an investment in a single Startup or multiple Startups on the Platform involves a high degree of risk, regardless of whether such investment is direct or through an investment vehicle. There can be no assurance that
5.1:  You shall not host, display, upload, modify, publish, transmit, update or share any information that:
6.1: Please use the chat features of the Platform responsibly and in accordance with Paragraph 5.1 above. You shall not use the Platform to send unsolicited commercial messages ('spam') or unsolicited mass distribution of files. In order to enforce this provision, LetsVenture may establish additional policies regarding the use of chat features, including, but not limited to, maximum retention times of messages, maximum number of messages sent per day, or a maximum size of a message.
6.2You agree not to use or launch any automated system, including without limitation, “robots,” “spiders,” “offline readers,” etc., to collect or copy data from the Platform. You further agree that You shall access the Platform only via the website through a web browser or a mobile user interface. Notwithstanding the foregoing, LetsVenture grants the operators of public search engines permission to use spiders to copy materials from the site for the sole purpose of creating publicly available searchable indices of the materials, but not caches or archives of such materials. LetsVenture reserves the right to revoke these exceptions either generally or in specific cases. You agree not to collect or harvest any personally identifiable information, including account names, from the Platform, nor to use the communication systems provided by the Platform for any commercial solicitation purposes.
7. Representations and Warranties of User
7.1 You hereby represent and warrant:
8. Emails, Newsletters and Notifications
8.1 If You wish to subscribe to Our newsletter(s) or receive notifications or e-mails from Us, We will use Your name and latest e-mail address provided by You in this regard. However, You may choose to stop receiving Our newsletters by following the instructions to unsubscribe as included in these e-mails or You can contact Us at email@example.com.
9. Intellectual Property
9.1 This Platform is operated by and is the sole property of LetsVenture. Any and all material on this Platform, including images, illustrations, audio and video clips, trade names, proprietary information and knowledge, technology, databases, or rights with respect thereto necessary for Our business as is now being operated are protected by copyrights, trademarks, and other intellectual property rights that are owned by Us or by other parties that have licensed such material to Us, or such parties having ownership of content uploaded on the Platform. You agree that any and all material displayed on the Platform is solely for Your personal use and You shall not, whether directly or indirectly, copy, reproduce, republish, post, upload, transmit or distribute such material in any manner and through any media including by way of e-mail or other electronic means and You shall not assist any other person in doing so. Modification of the said materials or use of the materials on any other Platform or networked computer environment or use of the materials for any purpose other than personal use is a violation of the said copyrights, trademarks and other intellectual proprietary rights, and is expressly prohibited. LetsVenture grants to You a temporary, non-exclusive, revocable, non-transferable limited license to use the Platform for your own use. All right, title, and interest in and to the Platform (excluding content uploaded specifically by a user) is and will remain the exclusive property of LetsVenture and/or its licensors.
9.3 From time to time, we test various aspects of our Platform, including our website, user interfaces, service levels, plans, promotions, features, availability of content, delivery, and pricing, and we reserve the right to include you in or exclude you from these tests without notice.
9.5  LetsVenture shall have no obligation to monitor or enforce any intellectual property rights that may be associated with the content provided by You on the Platform.
9.6  If You are a copyright owner or an agent thereof and believe that any content on the Platform infringes upon Your rights, You may contact firstname.lastname@example.org and provide details requested in regards to such infringement.
10. Prohibited Uses
10.1 The Platform may be used only for lawful purposes. LetsVenture specifically prohibits any use of the Platform for and You agree not to use the Platform for any of the following purposes:
10.2 LetsVenture may also place additional fair use restrictions including restrictions on concurrent connections and time of usage.
11.1  We reserve the right at any time and from time to time, in Our sole discretion, to modify the content on the Platform or any part thereof, including the transmission of any related materials or documentation, with or without providing prior notice to You. We further reserve the right at any time and from time to time, at Our sole discretion, to alter, modify or terminate any content or features contained on the Platform without providing to You prior notice of such alteration, modification or termination. You agree that LetsVenture shall not be liable to You or to any third party claiming through You, for any modification of the content or features provided on the Platform.
12. System Limitations and Failures
12.1 We use internally developed systems for providing You access to and facilitating Your use of the Platform. These systems may encounter technical or other limitations, and computer and communications hardware systems might experience interruptions. Further, We continually enhance and improve these systems in order to accommodate the level of use of the Platform. We may also add additional features and functionality to Platform that might result in the need to develop or license additional technologies. Increased utilization of the Platform or providing new features or functionality may cause unanticipated system disruptions, slower response times, degradation in levels of customer service, and delays in reporting accurate financial information. You agree that We shall not be liable to You or to any third party claiming through You, for any such failures contemplated herein.
13. Privacy and Confidentiality
13.3 You agree that Your obligations under this Paragraph13 are necessary and reasonable in order to protect Our business and expressly agree that monetary damages would be inadequate to compensate for any breach of any covenant or agreement set forth herein. Accordingly, You agree and acknowledge that any such violation or threatened violation will cause irreparable harm and injury to LetsVenture and that, in addition to any other remedies that may be available, in law, equity or otherwise, LetsVenture shall be entitled to obtain injunctive relief against the threatened breach of the terms of this Paragraph or the continuation of any such breach.
13.4 The restrictions in this Paragraph 13 shall not apply to disclosure of Confidential Information by either party if and to the extent the disclosure is:
14. Additional / Special Terms and Conditions
15. Links to / from other Platforms and Third Party Tools
15.1  The Platform may contain link/s to various other websites. These links are provided solely for Your convenience and benefit. Wherever such link/s lead to websites which are not owned by or belong to LetsVenture, We shall not be responsible for the content, products and services provided on such linked sites. We do not warrant or make any representations regarding the correctness or accuracy of the content on such websites. If You decide to access such linked websites, You do so at Your own risk. We do not in any way endorse the linked websites.
15.2  Similarly, this Platform can be made accessible through a link created by other websites. Access to this Platform through such link/s shall not mean or be deemed to mean that the objectives, aims, purposes, ideas, concepts of such other websites or their aim or purpose in establishing such link/s to this Platform are necessarily the same or similar to the idea, concept, aim or purpose of Our Platform or that such links have been authorized by Us. We are not responsible for any representation/s of such other websites while affording such link and no liability can arise upon LetsVenture consequent to such representation, its correctness or accuracy. In the event that any link/s afforded by any other website/s derogatory in nature to the objectives, aims, purposes, ideas and concepts of this Platform, is utilized to visit this Platform and such event is brought to the notice or is within the knowledge of LetsVenture, civil or criminal remedies as may be appropriate shall be invoked.
16.1  You are prohibited from violating or attempting to violate the security of the Platform, including, without limitation:
16.2 You shall not misuse this Platform by knowingly introducing viruses, trojans, worms, logic bombs or other materials that are malicious or technologically harmful (together "Viruses "). You must not attempt to gain unauthorized access to our Platform, the server on which the Platform is stored or any server, computer or database connected to this Platform. You must not attack this Platform via a denial-of-service attack. Further, You shall not interfere with or circumvent any security feature of the Platform or any feature that restricts or enforces limitations on use of or access to the Platform, such as probing or scanning the vulnerability of any system, network or breach.
16.3 By breaching the provisions of this Paragraph 16,You may be liable to be prosecuted under the Information Technology Act, 2000 and any other applicable law. We will report any such breach to the relevant law enforcement authorities and We will co-operate with such authorities by disclosing Your identity to them. In the event of such a breach, Your rights to use this Platform will cease immediately.
16.4 We will not be liable for any loss or damage caused by a denial-of-service attack or Viruses that may infect your computer equipment, computer programs, data or other proprietary material due to Your use of this Platform or to Your downloading of any material posted on it, or on any Platform linked to it.
16.5 You agree to immediately report to Us all incidents involving suspected or actual unauthorized access, disclosure, alteration, loss, damage, or destruction of data.
16.6 You shall not interfere with or disrupt (or attempt to interfere with or disrupt) access and enjoyment of the Platform of other users or any host or network, including, without limitation, creating or transmitting unwanted electronic communications such as “spam” to other users, overloading, flooding or mail-bombing the Platform, or scripting the creation of content in such a manner as to interfere with or create an undue burden on the Platform.
16.7 You are prohibited from reverse engineering, decompiling, reverse assembling, modifying or attempting to discover or copy any software, source code or structure that the Platform utilize to generate web pages or any software or other products or processes accessible through the Platform.
16.8 All actions performed by any person using Your account and password shall be deemed to have been committed by You and You shall be liable for the same. LetsVenture reserves the right to suspend/terminate Your account at any time if it is found that You have been sharing the password with any unauthorized user.
16.9 In order to reduce the risk of unauthorized access, all accounts maintained with Us through the Platform are locked after five (5) consecutive incorrect login attempts. In the event of such lockout, You can email the administrator at email@example.com and the account shall be unlocked upon receipt of Your email. You can also request for a password reset on our website through the ‘forgot password’ option on Our Platform.
17.1 All electronic communications and content presented and/or passed to Us, including that presented and/or passed from remote access connections, may be monitored, examined, saved, read, transcribed, stored, or retransmitted in the course of daily operations by any duly authorized employee or agent of LetsVenture in the exercise of their duties, or by law enforcement authorities who may be assisting LetsVenture in investigating possible contravention / non-compliance with applicable law. Electronic communications and content may be examined by automated means. Further, LetsVenture has the right to reject, at its sole discretion, from the Platform any electronic communications or content deemed not to be in compliance with the corporate policies and procedures of LetsVenture.
18.2 You acknowledge and agree that, upon termination, You shall immediately destroy any copies made of any portion of the content contained on the Platform. You acknowledge and agree that LetsVenture shall not be liable to You or any third party claiming through You, for any suspension or termination of access to Platform.
19. Disclaimer of Warranties and Limitation of Liability
19.1 LetsVenture does not endorse or act on behalf of any third party. In the event You engage the services of / interact with any third party, through the Platform, LetsVenture will not be liable to You for any act or omission by such third party in relation thereto.
19.2 We hereby expressly disclaim all warranties and representations of any kind with respect to any and all content and features available on the Platform, including but not limited to
19.3 LetsVenture shall have no liability for any losses, direct or indirect, in contract, tort, or otherwise, incurred in connection with the LetsVenture content on the Platform, including but not limited to loss of revenue or profit or any other commercial or economic loss or for any decision made or action taken by any third party in reliance upon the LetsVenture content.
19.4 Any content or services provided through the Platform shall not be construed as investment advice by LetsVenture or an opinion provided by LetsVenture regarding the appropriateness or suitability of any investment, or a recommendation or an offer or solicitation by LetsVenture or the new and growing businesses for the purchase or sale of any security or securities in general, nor otherwise an endorsement, inducement, or solicitation of any type.
19.5 You acknowledge and agree that by the mere fact of registering on Our Platform, You do not acquire any right to subscribe to the shares of any of the said businesses. Such right to subscribe to the shares of any of the said businesses shall be conferred upon You only in the event that such business or entity extends an express invitation or offer to You to subscribe to the shares of such business or entity.
19.6 The Platform, all the materials and services, included on or otherwise made available to You through this Platform is provided by LetsVenture on an "as is" and "as available" basis without any representation or warranties, express or implied except otherwise specified in writing. Without prejudice to the forgoing paragraph, LetsVenture does not warrant that:
19.7 LetsVenture is not a stock exchange recognised by the Securities Exchange Board of India (SEBI ) under the Securities Contract (Regulation) Act, 1956. The securities offered by any Startup registered on the Platform are not traded on any stock exchange recognised by SEBI. LetsVenture does not allow any secondary market trading of securities on the Platform.
20.1 You agree to indemnify and hold LetsVenture harmless from:
21. Foreign Jurisdictions
21.1 LetsVenture makes no representation that the content contained on the Platform is appropriate or to be used or accessed outside of the Republic of India. You are expressly notified that, many states and foreign countries all have their own regulations that must be observed in relation to Your use or access of the Platform. You must make your own assessment regarding, and are responsible for compliance with, regulatory requirements as may be applicable to Your use and access of the Platform in such jurisdictions.
22.Governing Law and Dispute Resolution
22.3 The arbitration shall be conducted by a sole arbitrator jointly appointed by LetsVenture and You. If parties fail to appoint an arbitrator within 30 days after service of the notice of arbitration, such arbitrator shall be appointed in accordance with provisions of the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Bangalore, India.
22.4 The language of the arbitration proceedings and of all written decisions and correspondence relating to the arbitration shall be English.
22.5 You agree and acknowledge that the provisions of Paragraph9 (Intellectual Property)and Paragraph 13 (Privacy and Confidentiality) are of importance to LetsVenture and monetary compensation may not constitute adequate relief and remedy to LetsVenture for non-performance by You of your obligations thereunder. Accordingly, LetsVenture shall be entitled to claim specific performance and seek mandatory and/or perpetual injunctions requiring You to perform your duties and obligations under such provisions.
24 No Waiver
25.2 LetsVenture shall be entitled to assign their rights and obligations hereunder to any Affiliate, third party or as part of any restructuring, business combination, merger or acquisition.