Legal Uncertainty Around Startup Fundraising India over the past few years or so has been recognized globally as a center for successful start-ups. India’s success story amongst many other factors may be attributed to available opportunities to create efficiencies in (read as disrupting) existing business models; availability of talent; creating new markets using technologies; and brave innovations. In addition to these factors, founders in India were able to attract global capital at the early stage, growth stage and late stage in the form of funding through convertibles, equity, debt as well as structured products. However, getting capital from investors, whether globally or from India, takes humungous amount of time and effort. Further, it can be safely assumed that not every pitch or introduction of the start-up opportunity will result in a successful fund raise. On the contrary, investors typically refuse more than a majority of the opportunities they see. For instance, from this