General Terms and Conditions (GTC-Investors) of FCI FundersClub GmbH for the Services of VENTURE LEAGUE

(Status: July 1, 2019)

§1

Validity and subject matter of the general terms and conditions

  1. All following provisions refer to all products and services offered by FCI FundersClub GmbH, Domstraße 17, 20095 Hamburg, Register Court: Amtsgericht Hamburg, HRB 122419, hereinafter referred to as “VENTURE LEAGUE”, to registered customers (companies and natural persons), hereinafter referred to as “customer”, under various Internet domains (including www.Venture-League.com www.Venture-League.de) as the case may be.
  2. These provisions define the conditions under which the services offered are used. For all customers of the services offered by VENTURE LEAGUE- these General Terms and Conditions (“GTC”) apply exclusively, even if the use or access takes place from outside the territory of the Federal Republic of Germany.
  3. Deviating general terms and conditions of the customer shall not become part of the contract even if VENTURE LEAGUE does not expressly object to them or renders the contractual services to the customer without reservation in the knowledge of conflicting or deviating conditions of the customer.
  4. With the registration in the portal of VENTURE LEAGUE and the associated possibility of the complete use of the VENTURE LEAGUE services, the customer declares bindingly that he has read and understood these GTC and agrees with their validity. Customers, who do not agree with the validity of the GTC, are prohibited from registering on the Internet domains of VENTURE LEAGUE and the associated use of the VENTURE LEAGUE services. Persons who have not reached the age of 18 are also not allowed to use the VENTURE LEAGUE portal.
  5. The customer creates his VENTURE LEAGUE account himself. An VENTURE LEAGUE account can also be created and assigned for the customer by an administrator, such as a specialist from the customer’s company or another representative. If this is the case, the administrator can, for example, access or deactivate the customer account as described in more detail in the Privacy Policy.
  6. Unless expressly stated otherwise, all new releases, updates and other new services which extend or improve the current version of the VENTURE LEAGUE offer shall also be subject to these GTC. The VENTURE LEAGUE Internet portal is offered in the version released by VENTURE LEAGUE and always subject to availability.

§2

Services

  1. VENTURE LEAGUE presents startups to potential investors (customers) in order to provide them with information on shareholdings. The following services are offered:
    1. The client has access to all available information from startups that have registered on the VENTURE LEAGUE Internet portal and qualified according to the VENTURE LEAGUE selection process. This information includes, but is not limited to:
      • Provision of all contact details of the start-up as well as a detailed description of the business model, market, competitors, team, financial data, investment volume. The customer is informed about the provision of the data by e-mail.
      • Provision of the video interview between Startup and VENTURE LEAGUE, provided that the Startup has given its consent.
      • All additional information uploaded by Startup, such as pitch deck, team and product videos.
    2. The customer will receive an invitation to the pitch event by e-mail.
    3. In addition to the personal appearance, the customer will be offered a technical opportunity to participate in the pitch event via an audiovisual link.
    4. The Customer’s contact details shall remain anonymous and shall only be disclosed to the Startup upon the Customer’s express written request.
    5. The customer is given the opportunity to have his investment in a start-up managed by VENTURE LEAGUE. Scope and content as well as costs will be regulated by an additional agreement.
  2. The customer is given the opportunity to invest in a startup with co-investors. This process is accompanied by VENTURE LEAGUE.
  3. VENTURE LEAGUE owes the conscientious execution of the service agreed with the customer, but not a concrete success. VENTURE LEAGUE uses technical equipment and software to perform the service. A guarantee for the completeness and correctness of the available data is not taken over.
  4. The provision of the data is automated and made available online. The results may not be subject to editorial processing by VENTURE LEAGUE. VENTURE LEAGUE does not assume any liability for incorrect data of the startup.
  5. With complete, liable to pay costs, registration the customer receives the non-transferable and non-exclusive right to use the VENTURE LEAGUE internet portal by himself and only for his own purposes according to these terms and conditions. Any use of the VENTURE LEAGUE portal that deviates from this requires an explicit, separate, prior written permission by VENTURE LEAGUE. This applies in particular to the duplication as well as the paid or free transfer or provision of the VENTURE LEAGUE data, or copies of the VENTURE LEAGUE data to third parties, or parts thereof, even if this takes place on computers which are in the possession of the customer.
  6. VENTURE LEAGUE will make every effort to make the Portal available 24 hours a day, 7 days a week and to ensure maximum server availability. However, VENTURE LEAGUE cannot guarantee 100 % availability.

§3

Copyrights and other property rights

  1. VENTURE LEAGUE respects the copyright in particular. All contents of VENTURE LEAGUE are protected by copyright.
  2. The registration according to § 1 Abs. 4 does not include the transfer of property or usage rights, licenses or other rights to the customer. All rights to trademarks, titles, brands and copyrights and other commercial rights of VENTURE LEAGUE remain with VENTURE LEAGUE or other entitled parties, such as authors and ancillary copyright holders, with the exception of rights of use of the VENTURE LEAGUE Internet portal without restriction. All published work results and information are subject to VENTURE LEAGUE copyright. Only those published work results and information are excluded, which were provided by customers or a third party and were taken over by VENTURE LEAGUE unchanged for publication in the Internet or to which VENTURE LEAGUE refers by means of hyperlink.

§4

Data protection

  1. The security and the protection of the data of the customers is VENTURE LEAGUE a special concern. VENTURE LEAGUE undertakes to observe the statutory provisions on data protection, in particular the provisions of the Federal Data Protection Act (BDSG) and the Telemedia Act (TMG). In addition, VENTURE LEAGUE’s data protection declaration applies.
  2. Herewith it is informed according to § 33 Abs. 1 BDSG that VENTURE LEAGUE stores the data of the customers in machine-readable form and processes them mechanically. Personal data are collected, stored, processed and used within the scope of the contractual provision of services. Personal data are those which contain information about personal and factual circumstances of a specific or determinable customer. The data is stored electronically. In addition, data about the retrieval of the Internet pages are recorded.
  3. The customer is responsible for ensuring that his access data (e-mail address and password) are treated confidentially by him. The customer should not use the password of the VENTURE LEAGUE account also for offers of third parties. Should the customer notice an unauthorized use of his password or his VENTURE LEAGUE account, he is obliged to change his password immediately.
  4. VENTURE LEAGUE will provide the customer on request at any time with complete and free information about the stored data stock, as far as it concerns the customer.
  5. VENTURE LEAGUE does not pass on any personal data to third parties.
  6. The personal settings which a customer enters are stored. This ensures that every customer finds the personal settings again with every new session (i.e. with every new login). VENTURE LEAGUE usually uses so-called cookies for this purpose. A cookie is a text file that stores information about the customer on the customer’s computer. The data stored in a cookie is anonymous and will not be linked to your personally identifiable information without your permission. Either so-called “session cookies”, text files which are only temporarily stored on your computer, or so-called “permanent cookies”, text files which are permanently stored on your hard disk by a website server, are used. Session cookies expire when you close your browser. Permanent cookies are permanently stored on the customer’s hard drive by the customer’s browser and enable us to track the use of our website so that we can continually adapt it to the needs of our customers. The customer has the possibility to accept or reject cookies at any time via the settings of his browser. If he rejects cookies, this can have a negative effect on the unrestricted use of the website.
  7. Our website uses Google Analytics, a web analysis service of Google Inc. (“Google”). Google Analytics uses “cookies”, which are text files placed on your computer, to help the website analyze how users use the site. The information generated by the cookie about your use of our website is generally transmitted to a Google server in the USA and stored there. If IP anonymisation is activated on our website, however, Google will shorten your IP address beforehand within member states of the European Union or in other contracting states of the Agreement on the European Economic Area. Only in exceptional cases will the full IP address be transmitted to a Google server in the USA where it will be shortened. On behalf of the operator of this website, Google will use this information to evaluate your use of our website, to compile reports on website activity and to provide other services relating to website activity and internet usage to the website operator. The IP address transmitted by your browser as part of Google Analytics is not combined with other data from Google. You may refuse the use of cookies by selecting the appropriate settings on your browser, however please note that if you do this you may not be able to use the full functionality of our website. You can also prevent Google from collecting the data generated by the cookie and related to your use of our website (including your IP address) and Google from processing this data by downloading and installing the browser plug-in available under the following linkhttp://tools.google.com/dlpage/gaoptout?hl=en. On our website we also use Google Analytics including the functions of Universal Analytics. Universal Analytics makes it possible to analyse the activities on our pages across all devices (e.g. when accessing via laptop / tablet). This is made possible by the pseudonymous assignment of a user ID to a customer. Such an assignment occurs, for example, when you register for a customer account or log on to your customer account. To prevent this tracking, please use the following link: http://tools.google.com/dlpage/gaoptout?hl=en.
  8. The customer agrees that VENTURE LEAGUE may use his anonymized customer data for the purposes of consulting, market research and for the improvement and needs-based design of the service. According to § 15 Abs. 3 TMG each customer can object to the transmission of the pseudonymized customer data for the purpose of consulting and market research to third parties as well as to the creation of anonymized user profiles. An e-mail to datenschutz@venture-league.com is sufficient to exercise the right of objection.
  9. The customer expressly consents to receiving e-mail messages via the e-mail address stored in his account. VENTURE LEAGUE uses the email address exclusively to send the customer important information and messages regarding the services offered. The email address will not be passed on to third parties. The customer can deactivate communication via email in his personal settings, but in this case he acknowledges that he may only receive limited and passive information about the services via the website(s).
  10. By registering, the customer declares that he agrees to the use of his data as described in the previous provisions.
  11. The customer is entitled to inspect the personal data stored on his person at any time and free of charge. This information is given in writing. The request for information must be addressed in writing to Venture League c/o, Neuerer GmbH, Domstraße 17 in 20095 Hamburg (Germany), enclosing a copy of the identity card.

§5

Conclusion of contract

  1. The customer declares to VENTURE LEAGUE that he has reached the age of 18 years.
  2. VENTURE LEAGUE is entitled to check the personal data of the customer on the basis of suitable official papers. The customer therefore assures VENTURE LEAGUE to transmit copies of official documents – in particular the identity card – upon request.
  3. The contract of use is concluded when the VENTURE LEAGUE offer is expressly confirmed by the customer in writing or by e-mail. The written form is granted by sending an e-mail. A contract concluded online is concluded through the use of the selected service or through the execution by VENTURE LEAGUE of the order initiated online.
  4. VENTURE LEAGUE reserves the right not to allow individual customers to register or use the VENTURE LEAGUE service or to subsequently object to a use and to delete the registration data. In particular, only personal e-mail addresses are permitted for registration.
  5. With the registration the customer declares at the same time his agreement to the validity of these GTC.

§6

Expenses

  1. The fee for a customer and for one year is 3.990 Euro plus the legal VAT of 19%.
  2. If the customer invests with a start-up brokered by VENTURE LEAGUE, a written agreement will be made in which the conditions of the investment are regulated separately.
  3. VENTURE LEAGUE is entitled to change the prices and fees for the services at its reasonable discretion (§ 315 BGB). VENTURE LEAGUE shall notify the customer of changes in prices and fees in accordance with this paragraph. In the event of an increase, the customer is entitled, unless otherwise agreed, to terminate the existing contract within a period of 6 weeks after notification of the changes in costs and charges with a period of 6 weeks to the end of the month. If the customer terminates the contract, the increased costs and fees shall not be taken as the basis for the terminated contract.

§7

Terms of payment/Maturity/Default

  1. VENTURE LEAGUE shall invoice the annual fee in accordance with § 6, 1. immediately after the customer has registered in the portal. Further invoices shall be issued at intervals of 12 months. However, VENTURE LEAGUE is entitled to issue invoices at a later date, stating the performance period. The customer receives the invoices in pdf format by e-mail. However, VENTURE LEAGUE is entitled to issue invoices in written form on paper.
  2. VENTURE LEAGUE is entitled to charge default interest at the statutory rate on all amounts not paid when due. In case of default, VENTURE LEAGUE is entitled to temporarily suspend its contractual obligation to provide our service until complete payment of due invoices. This does not extend the agreed contract periods.
  3. If agreed instalment payments are delayed by more than 14 days, the total invoice amount becomes due without a separate reminder.
  4. It is possible to pay the invoices via the SEPA direct debit procedure. If the collection of invoice amounts in the SEPA Basic Direct Debit Scheme takes place, VENTURE LEAGUE shall inform the customer of the amount to be collected and the time of collection at the latest three days before the debit. A change in the agreed method of payment is a contractual change and requires the express consent of VENTURE LEAGUE to become effective.

§8

Obligations of the customer

  1. The customer is entitled to use and claim the Internet services and services agreed upon in accordance with these General Terms and Conditions in the registration area of the Internet platform www.Venture-League.com. The customer is not permitted to deposit sexual, pornographic, immoral, politically radical or other illegal content in profiles and contact messages.
  2. The customer is obligated,
    1. to treat the information about startups that he receives from VENTURE LEAGUE (verbally and in writing) as strictly confidential and not to pass it on to third parties;
    2. to notify VENTURE LEAGUE in writing or by e-mail immediately after discovery of any defects in the services provided by VENTURE LEAGUE as well as any malfunctions and restrictions in the Internet services and the registration area of the www.Venture-League.com Internet platform;
    3. to refrain from illegal actions and misuse of the access possibilities on the Internet platform www.Venture-League.com as well as the information provided on the platform;
    4. to treat the password for the use of the registration area confidentially and to ensure that it cannot be viewed or decoded and used by unauthorised third parties;
    5. to continuously check its company data and information provided for registration, in particular also its e-mail address, for their correctness and to update or correct them immediately in the event of changes or any other need for correction.
  1. The respective customer is solely responsible for communication between the customers. Statements and actions of the customers are not attributable to VENTURE LEAGUE.
  2. Each customer is responsible for compliance with the legal provisions of the data protection laws applicable to him. Every customer is in particular obliged to treat e-mails and other messages or other data from customers, which he receives in connection with the use of the Internet portal provided by VENTURE LEAGUE, confidentially and not to make them accessible to third parties without the consent of their author. The same applies to names, telephone and fax numbers, residential and e-mail addresses and/or URLs of other customers.
  3. VENTURE LEAGUE checks profiles according to the available possibilities for compliance with these General Terms and Conditions. Nevertheless, VENTURE LEAGUE assumes no joint responsibility for the content of the profiles or contact messages.
  4. Any use or exploitation of the VENTURE LEAGUE, websites or services for purposes other than those for which they are intended is inadmissible.
  5. The customer is prohibited from using mechanisms, software or scripts in connection with the use of the VENTURE LEAGUE search engine, websites and databases, as well as from blocking, overwriting, modifying, copying, in particular copying by “robot/crawler” search engine technologies of VENTURE LEAGUE websites or databases. However, the customer may use the interfaces or software that are made available to him within the framework of the services offered by VENTURE LEAGUE on the VENTURE LEAGUE websites.
  6. The customer must also refrain from any action that is suitable to impair the functionality of the VENTURE LEAGUE infrastructure, in particular to overload it excessively.

§9

Obligations of the customer in the event of a start-up investment

  1. The customer declares that he has the necessary knowledge and experience to assess and evaluate the business models of start-ups, including their risks, or to obtain appropriate advice.
  2. The customer declares that he has carefully checked all information on the business model before investing in a start-up. If necessary, additional information was obtained from the startup.
  3. The customer declares that he is informed in detail about the considerable financial risks of investments in startups up to the possibility of a total loss of the invested investment.

§10

Term, termination

  1. The contract shall have a minimum duration of 12 calendar months and may be terminated by giving 6 weeks’ notice with effect from the end of the month in question. Notice of termination must be given in writing. If the notice is not given, the contract shall be extended by a further twelve calendar months.
  2. If a customer violates these GTC or general principles of law, or files for insolvency, VENTURE LEAGUE has the right at any time to block the access or to delete the corresponding entry completely and to terminate the license agreement with immediate effect.
  3. If a customer’s access is blocked due to a breach of contract/infringement of rights or insolvency, no refund of fees already paid will be made.

§11

Warranty

  1. In the event of a defect, VENTURE LEAGUE may repair or offer alternative solutions (subsequent performance). As long as subsequent performance attempts by VENTURE LEAGUE continue or have not finally failed, claims of the customer for reduction of the agreed remuneration or withdrawal are excluded. After the failure of the subsequent performance, the customer may reduce the purchase price or withdraw from the contract insofar as the respective defect is sufficient. Withdrawal is excluded if the defect is insignificant. The customer has to support VENTURE LEAGUE’s attempts to remedy the defect sufficiently.
  2. The warranty is excluded if the customer cannot reproduce the defect or show it by means of machine-generated output.
  3. VENTURE LEAGUE is only liable with regard to the data used for the fact that the data used were checked with the virus programs usual in the market for freedom from viruses. Any further liability for freedom from viruses is excluded.
  1. Warranty claims of the customer do not exist if the occurred error is in causal connection with the fact that the customer did not comply with any obligations to cooperate or subsequently changed the VENTURE LEAGUE services or had them changed.
  2. As far as the customer is an entrepreneur in the sense of § 14 BGB (German Civil Code), the aforementioned rights can only be asserted one year after the provision of the VENTURE LEAGUE services.

§12

Limitations of liability

  1. VENTURE LEAGUE has included in these Terms the risks of investing in start-ups and is not liable for any financial loss incurred by the Customer.
  2. The liability of VENTURE LEAGUE is limited to intentional or grossly negligent damages regardless of the legal basis. However, this limitation of liability does not apply to damages to life, body and health, to the violation of cardinal obligations or to claims arising from the Product Liability Act.
  3. As far as VENTURE LEAGUE is liable due to simple negligence, the claim for damages is limited to the foreseeable damage and to an amount of 5,000 euros.
  4. The compensation for consequential damages, in particular damages to hardware, software or due to loss of data on the part of the customer as well as loss of profit is completely excluded.
  5. If and as far as the liability of VENTURE LEAGUE is excluded, this also applies to the personal liability of the employees, workers, staff, representatives and vicarious agents of VENTURE LEAGUE.
  6. It exists agreement that according to the state of the art errors in programs cannot be excluded even with application of the greatest care and that an uninterrupted and error-free operation as well as the complete elimination of possible program errors, cannot be guaranteed.
  7. VENTURE LEAGUE excludes any warranty for the software and the functionality of the internet platform and makes no assurances regarding the correctness, suitability, reliability, punctuality or accuracy of the information contained therein.
  8. In particular, VENTURE LEAGUE assumes no liability if its Internet platform and/or the functionality of the VENTURE LEAGUE services is interrupted, impaired in its function or destroyed by force majeure, strike, lockout, operational disruptions or external impairments of the structures.
  9. VENTURE LEAGUE does not assume any liability for the data protection practices and the content of other websites to which VENTURE LEAGUE links.
  10. VENTURE LEAGUE is not liable for the unauthorised and unintended acquisition of knowledge by third parties of personal data of customers (e.g. through unauthorised access by “hackers” to the database of VENTURE LEAGUE) as well as for the fact that data and information which the customers themselves have made accessible to third parties, e.g. through the provision of the password, are misused by these.
  11. VENTURE LEAGUE does not assume any responsibility for a possible delay, deletion, false transmission or a memory failure in the communication between customers or in connection with personally designed areas.
  12. Furthermore, VENTURE LEAGUE points out that it also expressly assumes no liability for content provided by Internet users or by customers of the Internet platform provided by VENTURE LEAGUE. VENTURE LEAGUE is not responsible for the content provided by Internet users.
  13. VENTURE LEAGUE also assumes no liability for damages to computer systems and/or annoyances or damages of customers of VENTURE LEAGUE, which were caused in the context of the communication with other customers of VENTURE LEAGUE or by the call of external links.

§13

Right of withdrawal

  1. If the customer is a private person, he can revoke this contractual relationship within 14 days without giving reasons. The period begins from the date of consent to these GTCs. The revocation must be made in writing either by e-mail to contact@venture-league.com or by post to:
    Venture League c/o
    FCI FundersClub GmbH
    Domstraße 17
    20095 Hamburg (Germany)
  1. In the event of revocation, the customer account will be deleted immediately and access to the services of VENTURE LEAGUE blocked. Payments already made will be refunded to the customer.

§14

Changes to the General Terms and Conditions

  1. VENTURE LEAGUE reserves the right to redesign and amend the GTC.
  2. The customer declares that he agrees with the application of the amended terms and conditions to contracts concluded before the respective amendment, provided that VENTURE LEAGUE notifies the customer that an amendment to the terms and conditions has taken place and the customer does not object to the amendment within a period of two weeks, beginning with the day following the notification of amendment. In this case, the change in question shall be deemed approved. The change notification can be sent by e-mail to the e-mail address provided by the customer.

§15

Other provisions

  1. VENTURE LEAGUE can exclude customers from the further use of individual or all offers of the VENTURE LEAGUE Internet portal or reject individual profiles in the event of abuse without observing a deadline and without stating reasons.
  2. If an excluded customer nevertheless takes part in the Internet offer of VENTURE LEAGUE, e.g. under another identity, or tries in this way to conclude a license agreement with VENTURE LEAGUE, VENTURE LEAGUE expressly reserves the right to take legal steps.
  3. VENTURE LEAGUE can demand from the customer also during the term of the contract and after termination of the contract the immediate correction, deletion, blocking and surrender of the data, which he receives in connection with the use of the Internet portal made available by VENTURE LEAGUE. VENTURE LEAGUE can also demand from the customer the immediate correction, deletion, blocking and surrender of the data, which he receives in connection with the use of the Internet portal made available by VENTURE LEAGUE. VENTURE LEAGUE reserves the right to take legal action against the customer.

4 The operation of the Internet portal is at the sole discretion of VENTURE LEAGUE. VENTURE LEAGUE is entitled, but not obliged, to check the content of any text as well as any registered images and videos for the guidelines underlying these provisions and, if necessary, to change or delete them.

  1. VENTURE LEAGUE reserves the right to assert claims for damages in particular due to violations of these GTC or other legal violations.
  2. The contractual relations between VENTURE LEAGUE and the respective customer are exclusively governed by German law to the exclusion of the UN Convention on Contracts for the International Sale of Goods, but with the proviso that the property rights of VENTURE LEAGUE are protected worldwide according to the locally applicable law.
  3. Exclusive place of jurisdiction is, as far as legally permissible, Hamburg, Federal Republic of Germany.
  4. Should individual provisions of these GTC be or become invalid, this shall not affect the validity of the other provisions of these GTC. VENTURE LEAGUE and the customer shall replace or supplement the invalid or incomplete provision with a provision which comes as close as possible to the economically intended result. The same applies to contractual gaps.

Information on how to contact VENTURE LEAGUE can be found on the imprint/contact page.