- Equity
- SAFE Cleanups
Clean up your cap table
No more chasing down investor signatures. SAFE Cleanups retroactively clean up the SAFEs already on the cap table so companies get faster equity rounds and lower administrative costs.
Overview
How SAFE Cleanups work
Each direct SAFE means more administrative overhead and greater risk of delay during an equity financing.
With SAFE Cleanups, companies can optimize their cap table while preserving the economic rights of their SAFE investors.
The SAFE Cleanup Agreement contains a limited purpose power of attorney and a voting agreement that allows the company to sign conversion documents as long as the SAFE is converting according to its terms.
The result is effortless SAFE conversions during an equity round for both founders and investors.
Motif signed over 30 SAFEs to raise initial funds. We feared chasing down all of those investor signatures in future financings. But our investors were happy to sign the SAFE Cleanup Agreement, saving Motif ~$20,000 and ~2 weeks time.
Seamless setup
Clean up your SAFEs in 3 steps
Share your existing SAFEs
Tell us about your company and existing SAFE investors. The more SAFE investors you have, the more time and money you can save.
Works for any previously signed SAFEs
No capital contribution limits or restrictions
Works with international investors
Invite SAFE investors to sign
Easily invite your previous SAFE investors to sign the SAFE Cleanup Agreement through AngelList. AngelList helps you keep track of the process and follow up with investors.
Replaces e-signature tools like DocuSign
Signed document storage built into the cap table
Track investors’ signature status and easily follow up
Enjoy a cleaner cap table
Now you can sign conversion documents as long as the SAFEs are converting according to their terms. The result is lower overhead for both founders and investors.
For companies with their cap table on AngelList, “cleaned up” SAFEs appear as one row on AngelList’s cap table so founders can view their cap table through the lens of required approvals.
With the AngelList Growth + plan, SAFE Cleanups, RUVs, and cap table work together to optimize cap table and equity management.
For the best results, combine SAFE Cleanups with AngelList cap table
No-fee migrations to AngelList cap table from any cap table provider
Pricing
Flexible pricing
SAFE Cleanups pricing is based on the number of investors that sign the SAFE Cleanup Agreement.
Companies can save $1.2k in administrative costs per investor that signs the SAFE Cleanup Agreement.
Move your cap table to AngelList
The Growth plan (and above) includes unlimited SAFE cleanups, 409A valuations, and more, but requires that you maintain an active cap table on AngelList Equity.
Get startedGrowth
Recommended$3,200
/ year
Features
Unlimited SAFE Cleanups
409A Valuation
E-sign for equity grants
Cap table pro forma generation
Option exercise transactions
HRIS Integration
One-time SAFE Cleanup
$5000
Features
Includes 25 investor signatures. $175 for each additional signature.
SAFE Cleanup agreement
E-signature automation
Reporting
Actively fundraising and closing new investors?
While SAFE Cleanups help streamline previously signed SAFEs, RUVs help streamline future fundraises. RUVs can reduce admin costs and expedite the closing process for new SAFEs, equity rounds, and convertible notes.
FAQ
Everything you
need to know
No, you can use SAFE Cleanups without using AngelList’s cap table, but founders that combine SAFE Cleanups with AngelList Equity get a cleaner cap table. “Cleaned up” investors appear as one cap table row that you can easily expand for a more in-depth view.
We recommend using SAFE Cleanups at least a few weeks in advance of your first equity round to ensure a smooth fundraise.
Yes, leading venture funds have signed the SAFE Cleanup Agreement.
Executing a SAFE Cleanup Agreement does not impact QSBS eligibility. There is no transfer of ownership and any QSBS benefits would still apply. Please note that while the IRS has not qualified their position on either QSBS or SAFEs, some SAFEs may have a clause that outlines that for tax purposes, the SAFE is to be treated as Common Stock.