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Click here to use the Cooley GO Docs Y Combinator Safe Financing Documents (US) Generator
These documents are intended only for US companies incorporated in Delaware. Refer to “Other resources” below for Safe financing documents designed for other jurisdictions.
Since 2013, startup accelerator Y Combinator (commonly referred to simply as “YC”) has made available a set of financing documents referred to as “Safes.” “Safe” stands for “simple agreement for future equity.” These docs are widely used as an instrument for raising early-stage capital in Silicon Valley and beyond.
There are several different versions of the YC Safe with different terms, each of which may be generated on Cooley GO. We recommend reviewing the user guide on YC’s website to learn the features of each document and other terms.
Note: We were not involved in the preparation of these forms and are not necessarily endorsing any form, or the use of those forms either generally or in any specific instance, as all have their pros and cons, and they are just one organization’s opinion of what is, or what should be, a “market” standard document. We suggest getting advice from a lawyer to help you understand the meaning of the documents, how they may impact you, which forms are appropriate for your company, etc. But if you know what you want to do, we think you and your counsel should have a simple way of generating the documents.
Other resources
- To generate Safe financing documents for UK companies, check out Cooley GO’s Y Combinator ‘Safe’ Financing Documents (UK) Generator.
- To generate Safe financing documents for Singapore companies, check out Cooley GO’s Y Combinator ‘Safe’ Financing Documents (Singapore) Generator.
YC includes the following disclaimer to accompany its Safe documents: “Needless to say, YC does not assume responsibility for the consequence of using any version of the safe or any other document found on our website. Before using any of these forms, you should consult with a lawyer licensed in the country where your company was formed.”
Cooley LLP, each entity affiliated with Cooley LLP including Cooley (UK) LLP and Cooley SG LLP* and the respective partners, employees and agents of the foregoing (collectively, “Cooley”) do not endorse or recommend the use of any default values or any document on CooleyGO.com, nor is Cooley expressing any opinion or recommendation of what is, or what should be, a “market” standard document. Deal terms should be negotiated based on your specific circumstances and the relevant documents should be tailored to meet the specific legal and commercial requirements of the contemplated transaction. Additional documents may be required for the contemplated transaction. Cooley assumes no responsibility for the contents of the documents provided on CooleyGO.com or any consequence of your use of any such documents. You are responsible for ensuring that all necessary securities filings and/or other legally required filings, if any, are prepared and filed. You should consult with an attorney licensed to practice in your jurisdiction as well as tax advisors before using or relying on any documents on CooleyGO.com, especially if you don’t understand any of their terms. Review carefully and use at your own risk. No document or information provided on CooleyGO.com constitutes or should be relied upon as legal advice.
*Cooley SG LLP (UEN/Registration No. T19LL1477F) is a licensed foreign law practice registered in Singapore under the Limited Liability Partnerships Act (Chapter 163A) with limited liability.
