Apr 3, 2026

Mike Annunziata

Emerging Managers Face Valuation Trap With SAFE-Funded Portfolio Companies

Should you mark gains when seeded companies raise on SAFEs instead of equity

Murph capital is a new media, research and community for emerging vc fund managers

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Murph capital is a new media, research and community for emerging vc fund managers

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

Substack

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Benchmarks

Soon

about us

FUND

INVESTORS

Murph capital is a new media, research and community for emerging vc fund managers

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

Substack

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Benchmarks

Soon

about us

FUND

INVESTORS

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