Raise the round without creating problems for the next one.
SAFEs, convertible notes, and priced rounds, handled by counsel who has sat on the company side of the table.
How we approach it
Investors have done hundreds of these. Most founders have done one. We even the table.
Early-stage financing has become standardized, which helps founders and also hides traps. A post-money SAFE with a low cap, an uncapped note with a long maturity, or a side letter granting most-favored-nation rights can each quietly reshape the company’s ownership. We read every document for what it does to the cap table two rounds from now.
For priced rounds, we review and negotiate the term sheet, manage the NVCA-style document set, coordinate with investor counsel, run the closing, and update the corporate records so the next raise starts clean. For SAFEs and notes we move fast, usually turning documents the same day.
We also prepare companies for diligence before investors ask: organized data rooms, a complete minute book, signed IP assignments, and a cap table that reconciles to the documents.
What we handle
- SAFEsPost-money and pre-money, caps, discounts, MFN and pro rata side letters
- Convertible notesInterest, maturity, conversion mechanics, qualified financing triggers
- Priced roundsTerm sheet negotiation, charter, stock purchase, investor rights, voting and ROFR agreements
- Investor side lettersInformation rights, board observer seats, MFN
- Cap table modelingWhat each term does to founder ownership at the next round
- Data rooms & diligence prepOrganized, complete, ready before the first investor asks
- Board & stockholder approvalsConsents, waivers, and notices for the closing
- Secondary sales & tender offers
- Bridge financingsBetween rounds, on terms that do not poison the priced round
- M&A readinessGetting the company sale-ready
What people ask us first
- SAFE or convertible note?
- In California tech, SAFEs are the default for pre-seed and seed. Notes still appear with angel groups and in bridge rounds. The practical differences are interest, maturity, and how conversion is calculated. We model both against your cap table before you sign.
- How long does a priced seed round take to close?
- With a signed term sheet and organized records, four to six weeks is typical. Most delays come from missing corporate documents, which is why we prepare the data room before the term sheet is signed.
- Do you work with the investors’ lawyers directly?
- Yes. We handle the back-and-forth with investor counsel so you can keep running the company, and we tell you plainly which points are worth fighting and which are market.
Often needed alongside this
Tell us what you’re working on.
A free first conversation. We’ll tell you what it involves, what it costs, and whether you need us at all.
Santa Monica, California