Q&A: Pre-money and Post-money SAFE 

In this live stream we answer questions about the SAFE - the Simple Agreement for Future Equity. The SAFE is a very popular startup funding vehicle. Unlike the original pre-money SAFE, the 2018 post-money SAFE uses a post-money valuation cap. Both versions can (but don't always) result in the SAFE investor receiving SAFE Preferred shares upon the equity conversion. These are very similar to standard preferred shares, but with differences in liquidation preference (we show a simple liquidation preference example using a 1x participating liquidation preference), conversion price, and dividend terms.