Cap-and-discount SAFE notes combine both features, giving investors a valuation cap and a discount on the share price. During conversion, the investor benefits from the more favorable of the two terms. This type of SAFE note is highly flexible, making it ideal for startups seeking to attra...
Safe: Valuation Cap, No Discount (Singapore) Pro Rata Side Letter (Singapore) About the Safe Y Combinator introduced the safe (simple agreement for future equity) in late 2013, and since then, it has been used by almost all YC startups and countless non-YC startups as the main instrumen...
Choosing a cap that’s too low can be a big mistake, you could end up giving your SAFE or SeedFAST investor way more equity than you had planned, if your next round is at a much higher valuation than the cap. Which is why we suggest going with a discount, unless your (typ...
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