ContractsSAFEVirginia
VAMid-AtlanticRegulatedMedium Risk

Simple Agreement for Future Equityin Virginia

A Y Combinator-developed instrument giving investors the right to receive equity in a future priced round, without a maturity date or interest rate. Virginia's regulated legal climate creates specific considerations for SAFE drafting and enforcement.

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Legal Climate
Regulated
Non-Competes
Restricted
Governing Law
Moderate
Key City
Virginia Beach

Virginia Contract Law

Key Legal Fact

Virginia banned non-competes for employees earning at or below average weekly wages under Va. Code § 40.1-28.7:8.

Notable SAFE Law

Virginia courts apply a three-part reasonableness test with employer bearing burden to prove enforceability.

Key Clauses to Review

1
Valuation Cap
Requires Virginia-specific drafting under regulated legal standards.
2
Most Favored Nation Clause
Requires Virginia-specific drafting under regulated legal standards.
3
Pro-Rata Rights
Requires Virginia-specific drafting under regulated legal standards.
⚠ Common Issue
SAFE stack dilution from multiple uncapped SAFEs at low cap

Major Industries in Virginia

Government/DefenseTechnologyFinanceAgriculture

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