@PreSeedFounder_Nadia — MFN clauses in SAFEs give the investor the right to adopt the terms of any subsequent SAFE that has better terms (lower cap, higher discount). For a standard pre-seed round, MFN is generally acceptable and common — it protects early investors from being disadvantaged if you later issue SAFEs at a lower valuation cap. The risk: if you later need to raise a bridge round at a lower cap (down round scenario), all MFN holders can convert at the lower cap, increasing dilution. For a $500K raise on a $5M cap, MFN is standard and I'd accept it. Where I'd push back: if investors want MFN plus additional terms (pro-rata rights, information rights, side letters) that aren't in the standard YC SAFE. Keep the round clean — standard YC SAFEs with MFN only.