💰 Funding

Priced rounds: when and how

Lesson 4 of 10 · 7 min read

A priced round (Seed, Series A) sets a real valuation, issues preferred shares, and brings legal complexity.

Trigger to switch from SAFE to priced: raising >$3M, leading investor wants a board seat, multiple parties at the table.

Expect: 1% legal fees, 6 weeks to close, 90+ pages of docs (NVCA forms).

SAFEs explainedTerm sheets, decoded