This Code of Conduct provides guidelines for all SICTIC Investors and tech startups looking for financing presented by SICTIC, intending to facilitate trusting relationships and long-term partnerships. If you notice a violation of this code and can’t resolve it with the person in breach, please reach out to any of our vice presidents or the president.
Fair & Honest
We conduct business in a fair and honest way in all dealings and in particular with the business seeking entrepreneurs and among investors.
We win together and treat others the way we like to be treated. Our behaviour serves to build trust among investors involved and with the entrepreneurs. The race is long and a positive-sum game. Experienced investors and novice investors support each other to the extent of their possibilities. All investors engaging in due diligence actively support it.
We act as partners of the entrepreneurs and co-investors, supporting them to build great businesses. We seek alignment of interest among all parties involved in the investment process.
During due diligence and thereafter, we communicate transparently with all interested investors. Key points (key terms, timing, concerns, lead investor name) are communicated to all simultaneously and in the same manner. For simplicity and fairness, no individual side deals or subgroup deals at different terms are to be made.
To use efficiently the time, goodwill and energy of the investors and entrepreneurs, and for SICTIC credibility, investors commit to doing all they can so investment decisions are reached in a reasonable time.
For each potential investment with more than one investor interested, a lead investor is designated by the investors themselves. Whether remunerated or not, the lead investor responsibilities include:
– The main communication link between the investors and the startup;
– Coordination of the feedback of interested investors (e.g. due diligence, questions, investment terms) in a consolidated way to the startup and vice versa;
– Upfront information to other investors if (s)he intends to be remunerated for due diligence efforts directly or indirectly
Fee Disclosure & Contract
The Investor must disclose all fees charged to the investors and entrepreneurs before any contract is entered. This includes registration fees, success fees, and fees for other services provided by the Investor. The contract must specify any payable fees.
We will use the circulated information solely for the purpose of raising finance and not to exploit it in any other way. We will take all reasonable precaution to keep information confidential according to the signed Agreement between SICTIC and the investor.
Investors and startups will not accept subscribed investment capital from unspecified sources.