--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
In today's difficult climate pay-to-play provisions, designed to encourage all co-investors to support portfolio companies even in a down round, are becoming increasingly prevalent. They can be useful in ensuring that investors can spread the risk and the capital required to keep companies going during a tough period. But beware, says Richard Kimball of Hale and Dorr, there can be pitfalls and problems in crafting such provisions. He gives an overview of some of the issues that should be addressed when instituting pay-to-play provisions.
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