SAFE Notes
Last updated August 2026
What a SAFE is
A Simple Agreement for Future Equity (SAFE) is an instrument we use for the earliest funding of a venture. It is not debt and it is not priced equity; it converts into equity later, when a priced round sets the venture's valuation.
Why we use SAFEs
SAFEs let us move quickly at the stage where a venture's value is hardest to set, without the cost and delay of a priced round. They keep the founder's cap table clean until a real financing event.
Key terms
Our SAFEs typically include a valuation cap, a discount on conversion, and a most-favored-nation clause. Specific terms are agreed per venture and documented in the signed SAFE itself.
Conversion
A SAFE converts into equity at the next qualified financing, on a liquidity event, or at a dissolution, following the conversion mechanics defined in the agreement.
Contact
Questions about our SAFE terms can be sent to hello@agis.ai. This page is a placeholder summary; the binding terms are in the signed SAFE document.