Terms of use

1. Who these terms bind, and what they do not cover

These terms bind everyone who signs in to the portal: investors, introducers, carry beneficiaries and the firm's staff. By signing in you accept them; if you do not accept them, do not use the portal. Section 7 sets out the terms that apply to everyone who uses the website.

• Where these terms and an agreement that governs your investment or entitlement differ, that agreement governs.
• Nothing in the portal is an offer or a solicitation to buy or sell any security, and nothing in it is investment, tax or legal advice.

2. Accounts and access

Accounts are created by the firm, for a named person, against a record the firm holds. Signing in never creates an account, and holding a Google account or an email address gives no right of access.

• An account is personal. Do not share it, transfer it or let anyone else use it.
• There is no password. You sign in with Google or with a single-use code sent to an email address registered to your account, so whoever controls that mailbox controls the account. Keep it secure, and tell the firm at once if you think someone else has used your account.
• If you are an investor, an introducer or a carry beneficiary, nothing apart from your own email addresses can be changed through the portal; every other instruction, a change of bank account included, is given to the firm directly.
• Do not try to reach data that is not yours, to get round the portal's controls or to interfere with its operation.
• The firm may block an account at any time. Blocking ends access and every open session at once, and does not affect any investment or entitlement.

3. What the figures are, and what they are not

The portal is a record of entitlement, not of cash. A capital account, a fee, a carry position or a distribution shown in it states what is owed and why. It is not a confirmation that money has moved and not an instruction to pay; what moved is shown by the bank.

• Valuations are marks the firm records, not prices at which a holding could be sold. Holdings in private companies are illiquid.
• Where a figure in the portal and the firm's books disagree, the firm's books govern. If you believe a figure is wrong, write to investors@founderfactor.com; the firm will look into it and, where it is wrong, correct it and tell you.

4. Revisable figures and published statements

A figure shown as at a date can be revised as better information arrives, such as a corrected valuation or a payment reconciled late.

A published statement or report is fixed at the date it was published. It is corrected by a further publication that supersedes it, never by an edit, and you keep both.

5. Confidentiality

Everything you see in the portal is confidential: information about portfolio companies, valuations, the firm's reports, and anything about other investors, including the fact that they invested. Do not disclose it to anyone, except to your own professional advisers who are bound to keep it confidential, or where the law requires it.

Documents you download from the portal remain subject to the confidentiality terms of the agreement they belong to.

6. Availability, changes and liability

The portal is provided as it is, without a guarantee that it will be available at all times or free of error. The firm's obligations under your agreements do not depend on it: if the portal is unavailable, write to investors@founderfactor.com.

The firm may change these terms. A material change is notified to account holders before it takes effect, and the current version is always published at this address with the date it took effect. Using the portal after a change takes effect means accepting it.

To the extent the law allows, the firm is not liable for indirect or consequential loss, or for loss arising from the portal being unavailable or from relying on a figure in the portal rather than on the firm's books and the agreements that govern your investment. Nothing in these terms limits a liability that the law does not allow to be limited, or any right you have under those agreements.

These terms are governed by the laws of the State of Delaware, and the state and federal courts located in Delaware have jurisdiction over any dispute about them.

7. The founderfactor.com website

The website is public and needs no account. By using it you accept this section; sections 2 to 5 concern the portal only.

• The website gives general information about the firm, its team and its portfolio. Nothing on it is an offer or a solicitation to buy or sell any security, and nothing on it is investment, tax or legal advice. Participation in the firm's funds is limited to qualified or sophisticated investors and is offered only through definitive documents.
• Information about portfolio companies and their founders is given in good faith and may be incomplete or out of date. Showing a company is not an endorsement of it, and links to other websites lead to content the firm does not control.
• The website's content and the firm's name and logo belong to the firm. The names and logos of portfolio companies, and the name Y Combinator, belong to their respective owners.
• The website is provided as it is. Section 6 applies to the website as it does to the portal: the firm may change the website or these terms at any time, the same limits on liability apply, and these terms are governed by the laws of the State of Delaware.

8. Contact

Notices under these terms, questions about them, and any discrepancy in a figure go to investors@founderfactor.com. The firm writes to you at the email address registered to your account.