Standard OCV funding is $2M per company via a safe. As of April 2022, OCV Fund I safes do not include discounts or valuation caps. For more information on safes, see Safe.
Safe side letter
As of July 2024, OCV safes will include a side letter with the following notes:
"In the event that the Company negotiates a term sheet or letter of intent in connection with the Equity Financing or a debt financing, the Company shall not, without the Investor’s prior written consent, include any provision in such term sheet or letter of intent promising the issuance of equity awards to the Company’s officers, directors, employees or consultants.”
IMPORTANT: OCV can only initiate wire for safe funding after the founder share purchase process has been completed.
Once safe funding is complete, OCV team will provide confirmation to the Legal Team. Legal Team will prepare and file the CA 25102(f) Notice, which accepts digital signatures.
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