Deal Structures Reference
This page explains each Deal structure in detail, including all terms, what you can customize, and how adjustments impact your Deal.
Use this as a reference when choosing or customizing your Deal.
How to Use This Page
Each Deal structure includes:
- Overview — What the Deal is and who it's for
- Default Terms — The preset values if you don't customize
- Term Definitions — What each term means for this specific Deal
- Customization Options — What you can adjust and the available range
- Impact of Changes — How adjusting each term affects you and your investors
Jump to Your User Type
| I am a... | Jump to |
|---|---|
| Founder / Entrepreneur | Founder Deal Structures |
| Athlete | Athlete Deal Structures |
| Creator | Creator Deal Structures |
| Fund Manager | Fund Manager Deal Structures |
Founder Deal Structures
Founder Deal structures vary based on whether you have an existing company. See Deal Structures: Founders for a quick overview.
PersoniFi SAFE
Investors buy shares in you as a founder
Overview
The simplest Deal structure. Investors provide capital in exchange for equity rights in companies you found. No repayment obligations, no fallback terms.
Best for: Aspiring founders and early-stage founders with big upside potential who haven't yet started a company.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | $25,000 |
| Equity in Future Companies | 1% |
| Time Limit - Future Equity | 10 years |
| Fallback Terms | None |
Term Definitions
Investment Amount
The capital you receive from your investor.
What it means for you: This is the cash you'll have to build your venture.
What it means for investors: This is the capital they're putting at risk.
Equity in Future Companies
The percentage ownership your investor receives in any company you found within the time limit.
What it means for you: When you start a company, your investor automatically owns this percentage. This applies to every company you start during the agreement period.
What it means for investors: They get a piece of whatever you build—if you start multiple companies, they get this percentage in each one.
Time Limit - Future Equity
How long your investor has rights to equity in companies you start.
What it means for you: After this period expires, you can start new companies without giving equity to this investor.
What it means for investors: Their rights only apply to companies founded within this window.
Customization Options
| Term | Range | Default |
|---|---|---|
| Investment Amount | Varies | $25,000 |
| Equity in Future Companies | 0% – 20% | 1% |
| Time Limit - Future Equity | 1 – 20 years | 10 years |
Impact of Changes
Adjusting Investment Amount
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | More capital to work with | More money at risk, may expect higher equity |
| Decrease | Less capital, but easier to find investors | Lower risk, may accept lower equity |
Adjusting Equity in Future Companies
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase (e.g., 1% → 5%) | Give up more ownership in every company you start | More upside potential, more attractive deal |
| Decrease (e.g., 1% → 0.5%) | Retain more ownership | Less upside, may be less attractive |
Tradeoff: Higher equity = easier to fund but more dilution. Lower equity = you keep more but may struggle to find investors.
Adjusting Time Limit - Future Equity
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase (e.g., 10 → 15 years) | Investor has rights to companies you start over a longer period | Longer window to benefit from your success |
| Decrease (e.g., 10 → 5 years) | You're "free" sooner to start companies without this investor | Shorter window, less long-term upside |
Tradeoff: Longer time limits are more investor-friendly. Shorter limits give you more freedom but may make the Deal less attractive.
Non-Dilutive Flexquity
Income-based investment—no equity given up
Overview
A pure Income Contract. Investors receive a percentage of your capital gains rather than equity in a company. You keep full ownership of everything you build.
Best for: Pre-company founders who want funding without giving up equity.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| CapGains Share | Varies |
| Cap | Varies |
| Years | Varies |
| Rate | Varies |
Term Definitions
CapGains Share (%)
The percentage of your capital gains shared with investors.
What it means for you: When you realize capital gains (from selling equity, assets, etc.), this percentage goes to your investors.
What it means for investors: They participate in your financial success without owning equity in your companies.
Cap (#)
Maximum total payout to investors.
What it means for you: Once investors receive this amount, the contract ends—regardless of how much more you earn.
What it means for investors: Their upside is capped, but they have guaranteed clarity on maximum returns.
Years (#)
Duration of the agreement.
What it means for you: After this period, the income contract expires.
What it means for investors: Their rights only apply within this window.
Rate (%)
Rate at which capital gains are shared.
What it means for you: The percentage applied to qualifying capital gains events.
Impact of Changes
Adjusting CapGains Share
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | More of your capital gains go to investors | Higher return potential, more attractive |
| Decrease | You keep more of your capital gains | Lower returns, less attractive |
Adjusting Cap
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Higher maximum payout obligation | More upside potential |
| Decrease | Lower maximum obligation | Returns capped sooner |
Adjusting Years
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Longer obligation period | More time to realize returns |
| Decrease | Free sooner | Less time, may miss later gains |
SAFE+plus
Equity in your current company + equity in your future companies
Overview
Combines two Equity Contracts—one for your current company and one covering future companies you start. Investors are betting on you as a serial founder.
Best for: Active founders raising for an existing venture who also have a track record or ambition to start more companies.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | $50,000 |
| Valuation (Current Company) | Varies |
| Rights (Current Company) | 0–4 |
| Equity in Future Companies | 1% |
| Time Limit - Future Equity | 10 years |
| Rights (Future Companies) | 0–4 |
Term Definitions
Valuation ($)
The valuation cap for your company's equity.
What it means for you: Sets the price at which the investor's SAFE converts to equity.
What it means for investors: Lower valuation = more equity at conversion. Higher valuation = less equity.
Rights (0–4)
Investor rights level attached to the equity.
What it means for you: Higher rights give investors more governance participation. Lower rights keep you in full control.
What it means for investors: More rights = more oversight and protections.
Equity in Future Companies (%)
Percentage equity your investor receives in any future companies you found within the time limit.
Time Limit - Future Equity
How long future-equity rights apply. See PersoniFi SAFE above for full definition.
Impact of Changes
Adjusting Valuation
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Less dilution at conversion | Less equity, may be less attractive |
| Decrease | More dilution at conversion | More equity, more attractive |
See PersoniFi SAFE above for impact of adjusting Equity in Future Companies and Time Limit.
SAFEguard
Equity in your company + income-based fallback protection for investors
Tags: Most Popular, Anti-Dilutive
Overview
Combines an Equity Contract with a Blended Income Contract. Investors get equity upside, plus a safety net if things don't work out.
Best for: Founders with an active company who want to offer investors downside protection. The income fallback makes this attractive to investors who believe in you but want lower risk.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | $50,000 |
| Valuation (Current Company) | Varies |
| Rights | 0–4 |
| Cap | Varies |
| Years (Income Contract) | Varies |
| Min Threshold | Varies |
| Rate | Varies |
| Max Clawback | Varies |
| Future Fundraise Perk | Varies |
Term Definitions
Valuation ($)
The valuation cap for your company's equity. See SAFE+plus above.
Cap (#)
Maximum total repayment under the income contract.
What it means for you: If fallback triggers, you repay until this cap is reached or the time limit expires.
What it means for investors: Their downside is protected up to this amount.
Min Threshold ($)
Minimum income before repayment kicks in.
What it means for you: You only start repaying if your income exceeds this amount. Below it, payments pause.
What it means for investors: Repayments are tied to your financial success.
Rate (%)
Percentage of income directed to repayment when fallback terms are active.
What it means for you: If you earn $100,000/year and the rate is 10%, you'd pay ~$833/month.
Max Clawback (%)
Maximum percentage that can be clawed back.
Future Fundraise Perk ($)
Bonus for investors if you raise additional funding.
Customization Options
| Term | Range | Default |
|---|---|---|
| Investment Amount | Varies | $50,000 |
| Valuation | Varies | Varies |
| Rights | 0–4 | Varies |
| Cap | Varies | Varies |
| Years | Varies | Varies |
| Min Threshold | Varies | Varies |
| Rate | Varies | Varies |
| Max Clawback | Varies | Varies |
| Future Fundraise Perk | Varies | Varies |
Impact of Changes
Adjusting Cap
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Higher maximum repayment obligation | Better downside protection, more attractive |
| Decrease | Lower repayment obligation | Less protection, may be less attractive |
Adjusting Min Threshold
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase (e.g., $60k → $80k) | Repayments only start at higher income | Longer wait for repayments |
| Decrease (e.g., $60k → $40k) | Repayments start at lower income | Faster repayment, more attractive |
Adjusting Rate
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase (e.g., 10% → 15%) | Higher monthly payments when active | Faster repayment, more attractive |
| Decrease (e.g., 10% → 5%) | Lower monthly payments | Slower repayment, less attractive |
SAFEguard+plus
Equity in your current and future companies + income-based fallback
Tags: Investor Favorite
Overview
The most comprehensive Deal structure. Combines two Equity Contracts with an Income Contract. Investors get equity in your current company, equity in future companies, and income-based fallback protection.
Best for: Founders from idea to seed stages—investors get more upside with less risk.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | $50,000 |
| Valuation (Current Company) | Varies |
| Rights (Current Company) | 0–4 |
| Equity in Future Companies | 1% |
| Time Limit - Future Equity | 10 years |
| Rights (Future Companies) | 0–4 |
| Cap (Income Contract) | Varies |
| Years (Income Contract) | Varies |
| Min Threshold | Varies |
| Rate | Varies |
| Max Clawback | Varies |
| Future Fundraise Perk | Varies |
Term Definitions
Combines all terms from SAFE+plus and SAFEguard. See those sections for definitions.
Impact of Changes
See SAFE+plus and SAFEguard sections above for impact of adjusting each term.
Founder Quick Comparison
| Deal Structure | Current Co. Equity | Future Co. Equity | Income Contract | Fallback Terms |
|---|---|---|---|---|
| PersoniFi SAFE | — | ✓ | — | — |
| Non-Dilutive Flexquity | — | — | ✓ (CapGains) | — |
| SAFE+plus | ✓ | ✓ | — | — |
| SAFEguard | ✓ | — | ✓ (fallback) | ✓ |
| SAFEguard+plus | ✓ | ✓ | ✓ (fallback) | ✓ |
Athlete Deal Structures
Athlete Deal structures are based on Income Contracts—investors participate in your future earnings rather than equity in a company. See Deal Structures: Athletes for a quick overview.
FlexShare (Athletes)
Investors participate in your future earnings—both in-sport and non-sport
Overview
A single Income Contract with two components. Investors receive a share of your earnings from your athletic career and any non-sport income (business ventures, endorsements outside your sport, etc.). Each component has its own terms.
Best for: Athletes who want to raise funding against their full earning potential—both inside and outside their sport.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| In-Sport Cap | Varies |
| In-Sport Min Threshold | Varies |
| In-Sport Rate | Varies |
| In-Sport Years | Varies |
| Non-Sport Cap | Varies |
| Non-Sport Min Threshold | Varies |
| Non-Sport Rate | Varies |
| Non-Sport Years | Varies |
Term Definitions
Cap (#)
Maximum total payout from each income component.
What it means for you: Once investors receive this amount from a given component, that part of the contract ends.
What it means for investors: Their returns from each income stream are capped at this amount.
Min Threshold ($)
Minimum annual income before sharing kicks in.
What it means for you: You only share earnings above this amount. If you earn below the threshold in a given year, no payments are made.
What it means for investors: Payments only flow when you're earning well—aligned with your financial success.
Rate (%)
Percentage of income shared with investors.
What it means for you: Of your qualifying income above the threshold, this percentage goes to investors.
What it means for investors: Higher rate = faster returns, but the deal may be less attractive to you.
Years (#)
Duration of the income contract.
What it means for you: After this period, the contract expires regardless of whether the cap has been reached.
What it means for investors: Their income-sharing rights are time-limited.
Impact of Changes
Adjusting Cap
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Higher maximum total payout | More potential returns, more attractive |
| Decrease | Lower total obligation | Returns limited sooner, less attractive |
Adjusting Min Threshold
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | You keep more of your lower earnings | Payments start later, less attractive |
| Decrease | Sharing kicks in at lower income levels | Returns start sooner, more attractive |
Adjusting Rate
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Larger percentage of income goes to investors | Faster cap reached, more attractive |
| Decrease | You keep more of your income | Slower returns, less attractive |
Adjusting Years
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Longer period of income sharing | More time to reach the cap |
| Decrease | Free sooner | Less time, may not reach the cap |
Tradeoff: In-sport and non-sport components can be tuned independently. You might offer a higher rate on in-sport income (where you're confident) and a lower rate on non-sport income (where you want more protection).
FlexShareUpside (Athletes)
Investors participate in your in-sport earnings only
Overview
An Income Contract focused solely on your athletic career earnings. Your non-sport income stays entirely yours. Optionally, you can add a royalties component.
Best for: Athletes who want to keep non-sport earnings separate. Investors are betting specifically on your athletic career upside.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| In-Sport Cap | Varies |
| In-Sport Min Threshold | Varies |
| In-Sport Rate | Varies |
| In-Sport Years | Varies |
| Royalties (optional) | Varies |
Term Definitions
See FlexShare (Athletes) above for Cap, Min Threshold, Rate, and Years definitions.
Royalties (%)
Ongoing percentage of specific revenue streams (e.g., merchandise, licensing).
What it means for you: A separate, ongoing share of passive revenue streams—distinct from your main income contract.
What it means for investors: Additional return from your brand and licensing success.
Impact of Changes
See FlexShare (Athletes) above for impact of adjusting Cap, Min Threshold, Rate, and Years.
Adjusting Royalties
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Add royalties | Share a percentage of licensing/merchandise revenue | Additional return stream, more attractive |
| Increase rate | More royalty revenue goes to investors | Higher returns from passive income |
| Decrease rate | You keep more royalty revenue | Lower returns from passive income |
Athlete Quick Comparison
| Deal Structure | In-Sport Income | Non-Sport Income | Royalties (Optional) |
|---|---|---|---|
| FlexShare | ✓ | ✓ | — |
| FlexShareUpside | ✓ | — | ✓ |
Creator Deal Structures
Creator Deal structures include income-based options and an equity option for creators building a company. See Deal Structures: Creators for a quick overview.
FlexShare (Creators)
Investors participate in your future earnings—both in-creator and non-creator
Overview
A single Income Contract with two components. Investors receive a share of your earnings from your creative work and any non-creator income (side businesses, consulting, etc.). Each component has its own terms.
Best for: Creators who want to raise funding against their full earning potential—both inside and outside their creative work.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| In-Creator Cap | Varies |
| In-Creator Min Threshold | Varies |
| In-Creator Rate | Varies |
| In-Creator Years | Varies |
| Non-Creator Cap | Varies |
| Non-Creator Min Threshold | Varies |
| Non-Creator Rate | Varies |
| Non-Creator Years | Varies |
Term Definitions
Cap (#)
Maximum total payout from each income component.
What it means for you: Once investors receive this amount from a given component, that part of the contract ends.
What it means for investors: Their returns from each income stream are capped.
Min Threshold ($)
Minimum annual income before sharing kicks in.
What it means for you: You only share earnings above this amount. No payments in years you earn below the threshold.
What it means for investors: Payments are tied to your financial success.
Rate (%)
Percentage of income shared with investors.
What it means for you: Of your qualifying income above the threshold, this percentage goes to investors.
Years (#)
Duration of the income contract.
What it means for you: After this period, the contract expires regardless of cap status.
Impact of Changes
Same impact dynamics as FlexShare (Athletes). See that section for detailed impact tables for Cap, Min Threshold, Rate, and Years.
Tradeoff: In-creator and non-creator components can be tuned independently. You might offer a higher rate on creative income and a lower rate on non-creative income.
FlexShareUpside (Creators)
Investors participate in your creative earnings only
Overview
An Income Contract focused solely on your creative career earnings. Your non-creator income stays entirely yours. Optionally, you can add a royalties component.
Best for: Creators who want to keep non-creative earnings separate.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| In-Creator Cap | Varies |
| In-Creator Min Threshold | Varies |
| In-Creator Rate | Varies |
| In-Creator Years | Varies |
| Royalties (optional) | Varies |
Term Definitions
See FlexShare (Creators) above for Cap, Min Threshold, Rate, and Years definitions.
Royalties (%)
Ongoing percentage of specific revenue streams (e.g., music royalties, licensing, merchandise).
What it means for you: A separate, ongoing share of passive revenue streams—distinct from your main income contract.
What it means for investors: Additional return from your brand, content, and licensing success.
Impact of Changes
See FlexShare (Athletes) above for impact tables. Same dynamics apply.
PersoniFi SAFE (Creators)
Equity in your future companies—for creators building a business
Overview
A single Equity Contract covering companies you start in the future. If you're a creator who's also building (or planning to build) a business, this lets investors participate in that equity upside.
Best for: Creators who are also entrepreneurs—building a product, launching a brand, or starting a company around their creative work.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| Equity in Future Companies | Varies |
| Time Limit - Future Equity | Varies |
| Rights | 0–4 |
Term Definitions
See PersoniFi SAFE (Founders) above for Equity in Future Companies and Time Limit definitions.
Rights (0–4)
Investor rights level attached to the equity.
What it means for you: Higher rights give investors more governance participation.
What it means for investors: More rights = more oversight and protections.
Impact of Changes
See PersoniFi SAFE (Founders) above for impact of adjusting Equity and Time Limit.
Creator Quick Comparison
| Deal Structure | In-Creator Income | Non-Creator Income | Royalties (Optional) | Equity |
|---|---|---|---|---|
| FlexShare | ✓ | ✓ | — | — |
| FlexShareUpside | ✓ | — | ✓ | — |
| PersoniFi SAFE | — | — | — | ✓ (future companies) |
Fund Manager Deal Structures
Fund Manager Deal structures are built around carry sharing—investors participate in a percentage of your fund's carry (profits). See Deal Structures: Fund Managers for a quick overview.
FlexShare — FlexCarryShare (Fund Managers)
Carry share + minimum income guarantee
Overview
A unique Blended Income Contract. Investors receive a percentage of your fund's carry. If carry doesn't meet a minimum threshold, a minimum income-based guarantee ensures investors still see returns.
Best for: Fund managers who want to offer investors strong terms with downside protection. The minimum income guarantee makes this attractive to investors who want carry exposure with less risk.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| CarryShare (%) | Varies |
| Cap | Varies |
| Min Threshold | Varies |
| Rate (%) | Varies |
| Years | Varies |
Term Definitions
CarryShare (%)
Percentage of your fund's carry shared with investors.
What it means for you: When your fund generates carry (profit above the hurdle rate), this percentage goes to investors.
What it means for investors: Direct participation in your fund's performance.
Cap (#)
Maximum total payout to investors.
What it means for you: Once investors receive this amount (from carry + guarantee combined), the contract ends.
What it means for investors: Their returns are capped at this amount.
Min Threshold ($)
Minimum income level before guarantee payments begin.
What it means for you: If carry distributions fall short, you only start guarantee payments if your personal income exceeds this threshold.
What it means for investors: The guarantee only activates when you're earning well enough to support it.
Rate (%)
Percentage of income directed to guarantee payments.
What it means for you: If the guarantee kicks in and your income exceeds the threshold, this percentage goes toward the cap.
What it means for investors: Predictable fallback payments tied to your income.
Years (#)
Duration of the agreement.
What it means for you: After this period, the contract expires.
Impact of Changes
Adjusting CarryShare
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | More of your fund's carry goes to investors | Higher return potential, more attractive |
| Decrease | You keep more carry | Lower returns, less attractive |
Adjusting Cap
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Higher maximum total payout | More potential returns |
| Decrease | Lower total obligation | Returns limited sooner |
Adjusting Min Threshold
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Guarantee payments start at higher income | Longer wait for guarantee, less attractive |
| Decrease | Guarantee payments start at lower income | Faster guarantee activation, more attractive |
Adjusting Rate
| Change | Impact on You | Impact on Investors |
|---|---|---|
| Increase | Higher guarantee payments when active | Cap reached faster, more attractive |
| Decrease | Lower guarantee payments | Slower returns, less attractive |
FlexShareUpside — CarryShare (Fund Managers)
Pure carry share—no income guarantee
Overview
A streamlined Income Contract. Investors receive a percentage of your fund's carry with no income guarantee fallback. Simpler terms, pure upside exposure.
Best for: Established fund managers with a strong track record. Investors are betting purely on your fund performance.
Default Terms
| Term | Default Value |
|---|---|
| Investment Amount | Varies |
| CarryShare (%) | Varies |
| Cap | Varies |
| Years | Varies |
Term Definitions
See FlexShare — FlexCarryShare above for CarryShare, Cap, and Years definitions.
Impact of Changes
See FlexShare — FlexCarryShare above for impact of adjusting CarryShare, Cap, and Years.
Fund Manager Quick Comparison
| Deal Structure | CarryShare | Min Income Guarantee | Personal Income Obligation |
|---|---|---|---|
| FlexShare (FlexCarryShare) | ✓ | ✓ | ✓ (fallback) |
| FlexShareUpside (CarryShare) | ✓ | — | — |
All Deal Structures at a Glance
| User Type | Deal Structure | Income-Based | Equity-Based | Fallback/Guarantee |
|---|---|---|---|---|
| Founder | PersoniFi SAFE | — | ✓ (future) | — |
| Founder | Non-Dilutive Flexquity | ✓ (CapGains) | — | — |
| Founder | SAFE+plus | — | ✓ (current + future) | — |
| Founder | SAFEguard | ✓ (fallback) | ✓ (current) | ✓ |
| Founder | SAFEguard+plus | ✓ (fallback) | ✓ (current + future) | ✓ |
| Athlete | FlexShare | ✓ (in-sport + non-sport) | — | — |
| Athlete | FlexShareUpside | ✓ (in-sport) | — | — |
| Creator | FlexShare | ✓ (in-creator + non-creator) | — | — |
| Creator | FlexShareUpside | ✓ (in-creator) | — | — |
| Creator | PersoniFi SAFE | — | ✓ (future) | — |
| Fund Manager | FlexShare (FlexCarryShare) | ✓ (carry + guarantee) | — | ✓ |
| Fund Manager | FlexShareUpside (CarryShare) | ✓ (carry only) | — | — |
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