New venture capital platform 100X.VC will fund close to 20 startups between July and September. It plans to invest in 100 startups over the period of 12 months.
These investments will be made through iSAFE notes.
What is iSAFE?
iSAFE, which stands for India Simple Agreement for Future Equity, is an alternative to a convertible security note. Though there are several variations overseas, it is being used probably for a very first time in India.
Unlike debt, an iSAFE note is an alternate convertible note and does away with valuation complications. For instance, equity is issued to iSAFE note holders at equity pricing round after the startup achieves stability.
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