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An alternative to both Convertible Debt and Equity Financing. SAFE stands for "Simple Agreement for Future Equity" and was developed by YCombinator in California. There are several versions of the SAFE which are explained during the document generation process.

Equity

Term Sheets

Convertible Loan

Term Sheets

Investors provide the company with an investment loan which must be re-paid in instalments at a specified interest rate. At a pre-determined future event or time,  the amount loaned "converts" to shares of the Company.

SAFE

Term Sheets

Investors provide the company with an investment based on a price per share. Typically, an Investor will receive either Common or Preference Shares in the company, based on a number of factors that must be negotiated prior to the financing.

The National Angel Capital Organization (NACO) spent Q1 of 2017 traveling across Canada holding in person consultations with founders, funders, and other community partners getting feedback on standard term sheets for early stage startup investments. Along with online collaboration with legal partners & participants over this 3 month period, we have created the first version of these documents.


Learn more here: https://www.nacocanada.com/commondocs/

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Standard Term Sheets for Early Stage Startup Investment in Canada

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Caravel Law Compass allows companies to create first-draft versions of key financing documents that are required over the course of a financing. Our documents allow companies to get a sense of what is involved in a transaction and reach out for further assistance, if required.

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Using this service does not mean that Caravel Law Professional Corporation ("Caravel Law") is acting for the person or entity who submits or uses any information on this or any corresponding platform. Individuals or entities do not become clients of Caravel Law unless and until Caravel Law agrees to act for the individual or entity and unless and until such representation has been confirmed in an engagement agreement, in accordance with the usual policies of Caravel Law.

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