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iSAFE – India Simple Agreement for Future Equity
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taxguruin
iSAFE – India Simple Agreement for Future EquityThe CCPS Route for Founder-Friendly Early-Stage Fund Raising in India1.
The India SAFE Note (“iSAFE”) was conceived by 100X.VC in July 2019 as an adaptation of Y Combinator’s SAFE (Simple Agreement for Future Equity) instrument, modified to work within the framework of Indian company law.
iSAFE notes are issued by the startup in favour of the investors, i.e., the iSAFE note holders.
Do the FIRST iSAFE note holders rank ahead of subsequent iSAFE note holders?
First iSAFE note holders rank pari passu with subsequent iSAFE note holders/investors.