This Management Rights Letter template grants specific contractual management rights to an investor in a portfolio company. Its primary purpose is to help a venture fund qualify as a Venture Capital Operating Company (VCOC) under ERISA, thereby exempting the fund's assets from being treated as ERISA plan assets. The document also includes important considerations and optional clauses related to the Committee on Foreign Investment in the United States (CFIUS) regulations for foreign investors.

This document provides model insert language for a Limited Partnership Agreement, specifically addressing compliance with the Committee on Foreign Investment in the United States (CFIUS) regulations. It defines key terms related to CFIUS, outlines limitations on foreign person limited partners, and details the General Partner's authority and responsibilities in managing CFIUS risks for the partnership's investments.

The Shareholders’ Agreement by Cofounders sets out the governance, share ownership, transfer restrictions, board composition, investor rights, co-sale rights, and confidentiality obligations among founders, investors, and the company. It is structured as a standard Singapore-law shareholders’ agreement commonly used in early-stage private companies, providing a reliable framework for managing relationships and control.

This is a model form of a common stock warrant, typically used in Private Investment in Public Equity (PIPE) financings. It grants the holder the right to purchase a specified number of common shares from the issuing company at a predetermined exercise price. The document includes detailed provisions for issuance, transfer, exercise, adjustments for corporate events, and limitations on exercise.

The Management Rights Letter is a contractual document used by venture funds to establish “management rights” in a portfolio company, allowing the fund to qualify as a Venture Capital Operating Company (VCOC) under ERISA regulations and thereby avoid having its assets treated as ERISA plan assets. It grants the investor rights to consult with management, access financial and operational information, and receive board materials—while including provisions to limit or modify these rights for foreign investors to comply with CFIUS regulations and avoid triggering U.S. national security review.

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 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.