The Founder 100 Proposition

A founding cohort of 100

Help establish the standards, services and culture of ExEx.

Founder 100 membership is intended for people who want to do more than observe an early-stage proposition.

Each member will be invited to subscribe £5,000 for an equal part of the 40% shareholding allocated collectively to the Founder 100.

The cohort will bring together experienced individuals who can test the model, challenge assumptions, introduce capability and help ExEx prepare for professional leadership and further investment.

Members will not be expected to agree with every decision or become unpaid employees. Their value lies in informed judgement, constructive challenge and practical contribution appropriate to their interests and availability.

The aim is not to assemble a list of supporters. It is to form a capable founding community.

What Founder 100 membership includes

Potential investment return

An equal interest in the 40% Founder 100 shareholding.

With 100 equal subscriptions, each member’s initial holding would be 0.4% of the company, subject to the final share structure, shareholder agreement and future dilution.

Returns could arise through dividends, the sale of the company or another value-realisation event. No return is promised, and investment may result in the loss of all the capital subscribed.

Founding investment

A £5,000 subscription under formal investment and shareholder documentation. Across 100 members, this would raise £500,000.

Escrow protection

See Release of Founder 100 funds below.

Additional benefits

• Lifetime individual membership
• Permanent recognition as one of the first 100 members
• A structured development voice
• Early access to pilot activity and founder briefings
• Appropriate launch visibility
• Participation in the Founder 100 network
• Eligibility for consideration for advisory or governance roles
• Website recognition, subject to consent

Subject to professional legal, financial and regulatory advice.

Release of Founder 100 funds and investor funds

Founder 100 subscriptions and other investor funds (excluding Development Funding Partner) will be held independently in escrow and will not be available to ExEx during the fundraising period.

The intention is that funds will only be released when ExEx is in a position to commence the agreed development and launch programme on a properly funded basis.

Release will therefore be subject to agreed conditions, expected to include:

• all 100 Founder subscriptions having been completed, providing £500,000 of Founder capital;
• the Supervisory Board having been appointed;
• satisfactory commitments having been secured for the investment represented by the remaining 40% allocated to Other Investors; and
• the Supervisory Board being satisfied that sufficient funding is available to proceed with the agreed initial business plan.

Potential Other Investors could include private equity, growth or venture capital, family offices, strategic investors or other appropriate sources of investment.

The purpose of these conditions is straightforward: Founder 100 members should not be asked to finance a partially funded venture which must immediately return to the market for the capital required to proceed.

Once the funding conditions are satisfied, the escrow funds can be released and ExEx can move from proposition to operation with the financial resources required to implement its agreed development and launch programme.

Should the required conditions not be achieved within the period specified in the final investment documentation, Founder subscriptions would be returned in accordance with the escrow arrangements.

The precise investment, escrow and release arrangements will be determined by the appropriate legal and financial advisers before subscriptions are invited.