Free Pre-Seed & Seed Funding Templates

The Y Combinator SAFE: Valuation Cap, No Discount (Canada) governs how investor funds convert into equity based on a pre-set post-money valuation cap, without applying a discount. It ensures that the investor receives shares at a price reflecting the valuation cap if a future financing, liquidity event, or dissolution occurs. This SAFE is part of Y Combinator’s library of open, lawyer-vetted standard financing documents adapted for Canadian securities law.

The Y Combinator SAFE: Valuation Cap, No Discount (US) is designed to let startups raise early capital by granting investors the right to future equity at a capped valuation, without offering any additional discount at conversion. Unlike other SAFEs, this version excludes the percentage discount mechanism (which normally gives investors shares at a reduced price), relying only on the valuation cap to protect investors. It is part of Y Combinator’s widely adopted library of open, lawyer-vetted standard financing documents.

This document is a **Simple Agreement for Future Equity (SAFE)**, a standard instrument used by startups to raise capital from investors. It allows an investor to provide immediate funding in exchange for the right to receive equity in the future, typically during a priced financing round or a company exit, based on a specific valuation cap without a discount rate.

The Y Combinator SAFE: MFN, No Valuation Cap, No Discount (US) governs how investor funds convert into equity without applying a valuation cap or discount. Instead, it ensures fairness by giving investors the right to match any superior terms offered in subsequent SAFEs. It is part of Y Combinator’s widely adopted library of open, lawyer-vetted standard financing documents.

The Y Combinator SAFE: Valuation Cap, No Discount (US) is designed to let startups raise early capital by granting investors the right to future equity at a capped valuation, without offering any additional discount at conversion. Unlike other SAFEs, this version excludes the percentage discount mechanism (which normally gives investors shares at a reduced price), relying only on the valuation cap to protect investors. It is part of Y Combinator’s widely adopted library of open, lawyer-vetted standard financing documents.

The Y Combinator SAFE: Discount, No Valuation Cap (US) governs how investor funds convert into equity by applying a set discount to the price of future preferred shares, without using a valuation cap. It ensures that the investor receives shares at a discounted price in the next equity financing, or a comparable return in the event of a liquidity or dissolution event. This SAFE is part of Y Combinator’s library of open, lawyer-vetted standard financing documents widely used in U.S. startup funding.

The Y Combinator SAFE: Valuation Cap, No Discount (Caymans) governs how investor funds convert into equity by setting a post-money valuation cap without applying a discount. It gives investors the right to receive shares at a price based on the valuation cap in the next equity financing, or to receive a comparable return in the event of a liquidity or dissolution event. This SAFE is structured for Cayman Islands companies and is part of Y Combinator’s library of open, lawyer-vetted standard financing documents widely used in international startup funding.

The SAFE: Post-Money Valuation Cap (Singapore) is a Simple Agreement for Future Equity tailored for Singapore-incorporated companies. It allows investors to convert their investment into equity at the lower of the future financing price or a price based on a set valuation cap, protecting them from dilution. This is Y Combinator’s standard Singapore law version, widely used in early-stage startup financing.

The Pro Rata Side Letter (Caymans) by Y Combinator gives investors the right to purchase their proportional share of preferred shares in future equity financings, preserving ownership when a post-money SAFE converts. It outlines how pro rata rights are calculated, when they terminate, and the rules on assignment and amendments. This side letter is part of Y Combinator’s widely trusted set of standard financing documents, adapted for Cayman-incorporated companies.

The Pro Rata Agreement gives investors the right to purchase their proportional share of preferred stock in a company’s future equity financing, protecting them from dilution when a post-money SAFE converts. It sets out how pro rata rights are calculated, when they terminate, and rules for assignment and amendments. This agreement is part of Y Combinator’s publicly available library of standard financing documents, widely trusted and used by startups and investors.