All start-ups and scale-ups need to raise capital at some point in their lives. However, capital comes at a cost: getting diluted by the arrival of new external investors.

We observe that start-ups and scale-ups are frequently underprepared to address the question of dilution, which may sooner or later lead to a loss of control from the founders and, ultimately, increase tensions between the founders and the investors.

In this workshop, we will:

• give some tips to determine the right amount of capital to seek, based on our experience,

• explain the difference between ownership and control and how control-enhancing mechanisms can be used to keep the control over a company,

• draw attention to the timing of the dilution, through the use of convertibles and other contractual clauses, which may at first glance appear inoffensive.

About Deminor

Deminor is an independent consultancy firm specialised in shareholders assistance for Financial, Legal and Corporate Governance matters.

For nearly 30 years, Deminor has been active in various types of companies and sectors. Recently, we have seen an increase in demand for our services coming from start-up companies.

The workshop will be presented by:

Guillaume Dasnoy, Senior Corporate Finance Consultant at Deminor and Teaching Assistant at Solvay Brussels School of Economics and Management

Stéphanie Abiraad, Senior Legal Analyst at Deminor

This event is hosted by Silversquare, coworking spaces in Brussels and Luxembourg.