In December of 2013, local startup lawyer Ryan Roberts (Disclaimer: Ryan is an stakeholder in Launch DFW, LLC.) wrote a piece titled: “Safe and Sound? A Primer on the New YC Docs.” It detailed his thoughts on the SAFE financing documents released by seed accelerator Y Combinator.
His conclusion in was that the SAFE documents might be too favorable to the Startup, and would see little adoption in the Dallas/Fort Worth area. In 2013, that may have been true. But today says Roberts on a recent blog post, “I am pleased to say that I am seeing a change, and some deals are getting done with SAFEs.”
Recently, local prominent investors in DFW have invested using SAFE docs. This is something that never would have happened two years ago when I wrote the “Safe and Sound” article. Two years ago we were still somewhat having to convince local investors of the convertible note investment structure.
Read the rest of the update here: DFW Startup Community SAFE Update.