Reconsidering Post Money SAFEs

If you’re a NYC startup contemplating a seed round, you’re probably considering one of a handful of structures: convertible notes, SAFEs, or equity. For smaller seed rounds, it’s hard to choose equity. For rounds below $1-1.5MM, convertible securities (either notes or SAFEs) are the favored approach because of their simplicity and speed.  It’s possible to do equity rounds for any amount... Great form, wrong director formulation

Some law firms (big emphasis on some) are adapting documents, technology and processes to drive out waste and reduce costs – just as the startups we represent are doing in their industries.  My colleague Jose Ancer calls it The Economic Deflation of Startup Law.  The startup legal environment has continued to change for the better, and part of that has been built on the continued move to more...

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