SAFEs can be a powerful fundraising tool—but they also carry real risks to existing equity holders. For founders, the danger lies not in the document itself, but in misunderstanding its terms and consequences. ...more
On April 28, 2013, the State Administration of Foreign Exchange (the “SAFE”) promulgated the Administrative Measures of Registration of Foreign Debts (the “Foreign Debt Measures”) together with the detailed Operational...more