Glossary

MFN clause

Most favoured nation: a SAFE investor can adopt the better terms of any later SAFE.

Used in the uncapped YC SAFE and in some accelerator deals. If you later issue a SAFE with a lower cap or a discount, the MFN holder gets those terms too, which can lower the price of your earliest money.

Related free tool

Learn the words, then get the score.

A free Founder Starter account gives you SeedScope’s startup score, a risk assessment and a summary, and puts your profile in front of investors. Founder Pro adds the full valuation, exit odds and the investors who viewed you, by name.