AGRILINE, the investment vehicle owned by a trust of which Trendlines' controlling shareholder Vincent Tchenguiz is a discretionary beneficiary, plans to make a US$5 million investment into seven of Trendlines' portfolio companies.
Trendlines also plans to invest US$1.1 million in six of its portfolio companies, alongside Agriline, it said on Monday.Two of the investments will be in the form of share-purchase transactions, in which Agriline, and for one of the investments, Agriline and Trendlines, will join existing financing rounds of these portfolio companies, and five investments will be executed as Simple Agreement for Future Equity transactions.
Trendlines said:"A SAFE is an equity derivative instrument, by which the SAFE investor commits capital to an investee company today, in exchange for the right to receive shares in the portfolio company when there is a future financing by the portfolio company."
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