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Venture Partner Agreement for Ireland

Venture Partner Agreement Template for Ireland

This document establishes the legal framework for engaging a Venture Partner within an Irish venture capital or private equity firm. It outlines the terms of engagement, responsibilities, compensation structure (including carried interest arrangements), and compliance requirements under Irish law. The agreement addresses key aspects such as deal sourcing, investment committee participation, portfolio company involvement, and confidentiality obligations, while ensuring compliance with Irish financial services regulations, company law, and EU requirements such as GDPR. The document is structured to accommodate both full-time and part-time venture partner relationships while maintaining alignment with Irish legal standards and industry best practices.

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What is a Venture Partner Agreement?

The Venture Partner Agreement is a crucial document for venture capital and private equity firms operating in Ireland who wish to engage experienced professionals in a hybrid capacity between full partners and advisors. This agreement type has become increasingly important as VC firms seek to expand their expertise and network while maintaining flexible engagement structures. The document addresses the unique aspects of the venture partner role, including deal sourcing, investment evaluation, portfolio company support, and carried interest arrangements, while ensuring compliance with Irish financial services regulations and company law. The agreement is particularly relevant for firms looking to scale their investment capabilities without immediately adding full partners, and it includes provisions for both active investment professionals and sector specialists who may maintain other professional commitments.

What sections should be included in a Venture Partner Agreement?

1. Parties: Identification of the VC firm and the Venture Partner

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement including 'Portfolio Companies', 'Carried Interest', 'Investment Period'

4. Appointment and Term: Official appointment of the Venture Partner and duration of the agreement

5. Services and Responsibilities: Detailed description of the Venture Partner's duties and obligations

6. Time Commitment: Expected time dedication and availability requirements

7. Compensation: Fee structure, carried interest arrangements, and other financial benefits

8. Expenses: Policy on reimbursement of business expenses

9. Confidentiality: Protection of confidential information and trade secrets

10. Intellectual Property: Ownership and protection of IP developed during the engagement

11. Non-Competition and Non-Solicitation: Restrictions on competitive activities and solicitation of staff/clients

12. Termination: Conditions and procedures for ending the agreement

13. General Provisions: Standard legal clauses including governing law, notices, and amendments

What sections are optional to include in a Venture Partner Agreement?

1. Investment Committee Participation: Include when the Venture Partner will be part of the investment committee

2. Deal Flow Requirements: Include when specific deal sourcing targets are required

3. Portfolio Company Board Seats: Include when the Venture Partner may serve on portfolio company boards

4. Co-Investment Rights: Include when the Venture Partner has rights to co-invest in deals

5. External Activities: Include when the Venture Partner maintains other business activities

6. Training and Support: Include when the firm provides specific training or resources

7. Insurance Coverage: Include when the firm provides professional liability insurance

What schedules should be included in a Venture Partner Agreement?

1. Schedule 1 - Services Description: Detailed outline of services and responsibilities

2. Schedule 2 - Compensation Terms: Detailed breakdown of all compensation components

3. Schedule 3 - Carried Interest Calculations: Formula and examples of carried interest calculations

4. Schedule 4 - Approved External Activities: List of pre-approved external business activities

5. Schedule 5 - Investment Process: Description of the firm's investment process and VP's role

6. Appendix A - Confidentiality Agreement: Detailed confidentiality terms and requirements

7. Appendix B - Compliance Manual: Key compliance requirements and procedures

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions






































Clauses



































Relevant Industries

Financial Services

Venture Capital

Private Equity

Investment Management

Technology

Life Sciences

Clean Technology

Professional Services

Startups

Scale-ups

Relevant Teams

Legal

Investment

Operations

Compliance

Finance

Portfolio Management

Deal Sourcing

Due Diligence

Risk Management

Executive

Relevant Roles

Venture Partner

General Partner

Managing Partner

Investment Director

Chief Investment Officer

Portfolio Manager

Investment Committee Member

Senior Investment Professional

Investment Partner

Operating Partner

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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