But early stage fundraising evolved in the years following the introduction of the original safe, and now startups are raising much larger amounts of money as a first “seed” round of financing. The safe was a simple and fast way to get that first money into the company, and the concept was that holders of safes were merely early investors in that future priced round. Our first safe was a “pre-money” safe, because at the time of its introduction, startups were raising smaller amounts of money in advance of raising a priced round of financing (typically, a Series A Preferred Stock round).
Safe: Valuation Cap, No Discount (Caymans).Safe: Valuation Cap, No Discount (Canada).Before using any of these forms, you should consult with a lawyer licensed in the relevant country.
Safe: MFN, no Valuation Cap, no DiscountĪs of March 2021, we’re unveiling beta versions of the “Valuation Cap, no Discount” post-money safe and optional side letter for companies formed in Canada, the Caymans and Singapore.There are four versions of the post-money safe intended for use by US companies, plus an optional side letter. September 2018 (updated March 2021) Contents.
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