New to the site and not the most experienced with search funds. I have been self-funding my search for acquisitions so far. I'm considering offering a seed round with a SAFE (Simple Agreement for Future Equity) as opposed to conducting a traditional search fund with a PPM. Is this a good idea? My back office is on the AngelList Stack platform and it makes it simple and cost effective to get funding rounds up and running (I did a mock test trial).
The reason I ask is that I have been busy submitting offers to off market manufacturing companies in the Chicago area. I submitted a total of 58 offers to manufacturers with a total collective annual revenue of $381.8M. I could be more aggressive on my campaign follow up if I had the equity partners on deck. I have 2 board members with over 50 years of collective acquisition experience on the team but I'm the Founder & CEO (work horse for now). Their involvement is limited until we get more responses from the campaign and their assistance is more needed.
I would like to get some feedback on this if I can.
Considering offering seed round with SAFE opposed to Searchfund with a PPM

by a searcher from Northeastern Illinois University
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SAFEs make sense for early stage companies that are hard to value. They dont really make sense in the SMB M&A context.
SAFEs are very pro-company (they arent debt, they may never convert, etc.), and I cant imagine the average investor would be interested in this like Brian said.