Open Source Documents

Open Source Documents

In Australia, every year thousands of investments are made in startup companies. Melbourne Angels makes dozens of those. The template documents shared here are intended to promote the adoption of a standardised and consistent set of investment terms and practices for startup investment agreements.

These open source documents offer the parties involved in a startup investment transaction a carefully considered starting point. The preparation of these documents has taken into account the challenges, opportunities, requirements and benefits of investing in startups in Australia.

Melbourne Angels shares these documents openly to aid founders, investors and their advisors to understand how investment terms can be structured to promote success for the venture by aligning interests.

We encourage the use of these documents. However, please note that they have been prepared for the limited purpose of supporting seed investments by a collective of Angel investors, in which they choose to align their interests with the founders of a company to promote success as a high-growth venture. Their use should be carefully considered in the context of the specific commercial requirements and circumstances of any particular investment transaction. Any changes to the text of the terms in the schedules, or in the general terms, may introduce unintended consequences. These documents, and any guidance note within these documents, must not be relied upon as legal advice and it is recommended that professional legal advice be obtained to ensure that these documents are fit for purpose in any given use.

Anyone unfamiliar, or inexperienced with these types of legal documents should inform themselves. All investors, founders and others party to a startup investment transaction are encouraged to attend the Melbourne Angels training workshops which will provide practical instruction in the use of these documents throughout the investment process and the life of the company.

These documents are available for download:


These documents have been developed in consultation with leading Angel investors in Australia and overseas, as well as with experienced founders. Russell Kennedy Lawyers advised Melbourne Angels in the preparation of these documents and was responsible for the drafting of the documents in August 2018, based on applicable laws in force at that time. These documents have been updated but, do not necessarily take into account any subsequent changes in applicable laws.