Venture Capital
SAFE Notes vs. Convertible Notes: What Angel Investors Must Understand Before Signing
I watched a founder's ownership drop from 78% to 35% at a single Series A closing. The cap table wasn't wrong. The math was clean. What happened was that three SAFE notes — each signed 12 to 18 months earlier, each...
Jeff Barnes, MBA··15 min read
Venture Capital
Convertible Notes Vs. SAFE Agreements: a Practical Guide for Angel Investors
If you've made more than a handful of angel investments, you've probably signed both convertible notes and SAFEs without fully understanding the differences between them. Don't feel bad — the nuances are genuinely confusing, and most educational content on the topic reads like it was wri
AIN Editorial Team··10 min read