{"id":10327,"date":"2025-08-14T15:00:00","date_gmt":"2025-08-14T15:00:00","guid":{"rendered":"https:\/\/virconlegal.com\/apy-tekmer-basehub-yatirim-programi-safe-convertible\/"},"modified":"2025-08-14T15:00:00","modified_gmt":"2025-08-14T15:00:00","slug":"apy-tekmer-basehub-yatirim-programi-safe-convertible","status":"publish","type":"post","link":"https:\/\/virconlegal.com\/tr\/apy-tekmer-basehub-yatirim-programi-safe-convertible\/","title":{"rendered":"APY TEKMER x BASEHUB Yat\u0131r\u0131m Program\u0131 \u2014 SAFE ve Convertible Notlar"},"content":{"rendered":"<p>A\u011fustos 2025&#8217;te <strong>APY TEKMER x BASEHUB Yat\u0131r\u0131m Program\u0131<\/strong> kapsam\u0131nda d\u00fczenlenen oturumda, Y\u00f6netici Orta\u011f\u0131m\u0131z <a href=\"https:\/\/www.linkedin.com\/in\/mumtazhacipasaoglu\/\" target=\"_blank\" rel=\"noopener\">Erdem M\u00fcmtaz Hac\u0131pa\u015fao\u011flu<\/a> giri\u015fimcilere hukuki perspektiften yat\u0131r\u0131m s\u00fcre\u00e7lerini anlatt\u0131. Oturumda <strong>convertible note<\/strong> ve <strong>loan<\/strong> kavramlar\u0131 derinlemesine tart\u0131\u015f\u0131ld\u0131; <strong>Y Combinator<\/strong>&#8216;\u0131n me\u015fhur dok\u00fcman\u0131 <strong>SAFE<\/strong>&#8216;in her versiyonu detayl\u0131ca incelendi ve s\u0131k yap\u0131lan hatalar masaya yat\u0131r\u0131ld\u0131.<\/p>\n<p>Konu\u015fman\u0131n merkezindeki tez netti: <strong>SAFE ve convertible enstr\u00fcmanlar\u0131 yaln\u0131zca finansal birer \u015fablon de\u011fil; jurisdiction&#8217;a g\u00f6re hukuki etkileri farkl\u0131la\u015fan, dikkatli kurgulanmazsa kurucuyu erken a\u015famada dilution ve kontrol kayb\u0131na g\u00f6t\u00fcrebilen yap\u0131lar.<\/strong><\/p>\n<h3>SAFE&#8217;in versiyonlar\u0131 ve T\u00fcrkiye yasal altyap\u0131s\u0131<\/h3>\n<p>SAFE&#8217;in <strong>pre-money, post-money, MFN&#8217;li ve discount&#8217;l\u0131<\/strong> versiyonlar\u0131n\u0131n her birinin farkl\u0131 senaryolarda nas\u0131l davrand\u0131\u011f\u0131 pratik \u00f6rneklerle ele al\u0131nd\u0131; T\u00fcrkiye&#8217;deki yasal altyap\u0131da SAFE benzeri ara\u00e7lar\u0131n hangi s\u00f6zle\u015fme hukukuna oturdu\u011fu, vergi ve \u015firketler hukuku a\u00e7\u0131s\u0131ndan do\u011fru kullan\u0131m ihtimalleri a\u00e7\u0131kland\u0131.<\/p>\n<h3>Convertible note ve loan ayr\u0131m\u0131<\/h3>\n<p>Convertible note ile geleneksel loan aras\u0131ndaki s\u0131n\u0131r\u0131n, faiz oran\u0131, valuation cap ve d\u00f6n\u00fc\u015f\u00fcm tetikleyicileri \u00fczerinden nas\u0131l belirlendi\u011fi tart\u0131\u015f\u0131ld\u0131. Pazarda s\u0131k yap\u0131lan hatalar\u0131n \u2014 <strong>cap ve discount&#8217;\u0131n ayn\u0131 anda \u00e7al\u0131\u015fmas\u0131<\/strong>, MFN klozunun kapsam\u0131, qualified financing e\u015fi\u011fi \u2014 hukuki ve operasyonel sonu\u00e7lar\u0131 anlat\u0131ld\u0131.<\/p>\n<h3>Program kapsam\u0131ndaki di\u011fer hukuk\u00e7ular<\/h3>\n<p>Ayn\u0131 program \u00e7er\u00e7evesinde <strong>\u015eevki \u00d6zg\u00fcr Alt\u0131nda\u015f<\/strong> (Aksan Law Firm) SHA S\u00f6zle\u015fmesi Stratejisi&#8217;ni, <strong>Aylin \u015eahin<\/strong> (Igniters Tech Law), <strong>M. Okan Ar\u0131can<\/strong> (Balc\u0131o\u011flu Sel\u00e7uk Ard\u0131yok Keki Avukatl\u0131k Ortakl\u0131\u011f\u0131) ve <strong>Alper Onar<\/strong> (BBO Legal), yat\u0131r\u0131m s\u00fcre\u00e7lerinde hukukun rol\u00fcn\u00fc uygulama \u00f6rnekleri \u00fczerinden ele ald\u0131lar.<\/p>\n<h3>Bu programda \u00f6ne \u00e7\u0131kanlar<\/h3>\n<ul>\n<li><strong>SAFE versiyonlar\u0131:<\/strong> Pre-money \/ post-money, MFN, discount<\/li>\n<li><strong>Convertible note vs loan:<\/strong> S\u0131n\u0131r\u0131n belirleyicileri<\/li>\n<li><strong>T\u00fcrkiye altyap\u0131s\u0131:<\/strong> S\u00f6zle\u015fme hukuku, vergi, \u015firketler hukuku<\/li>\n<li><strong>S\u0131k hatalar:<\/strong> Cap &#038; discount kombinasyonu, qualified financing e\u015fi\u011fi<\/li>\n<\/ul>\n<p>M\u00fcmtaz&#8217;\u0131n LinkedIn&#8217;deki payla\u015f\u0131m\u0131na <a href=\"https:\/\/www.linkedin.com\/posts\/mumtazhacipasaoglu_apy-tekmer-x-basehub-yat%C4%B1r%C4%B1m-program%C4%B1-activity-7362088181992685568-o7kV\/\" target=\"_blank\" rel=\"noopener\">bu ba\u011flant\u0131dan<\/a> ula\u015fabilirsiniz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A\u011fustos 2025&#8217;te APY TEKMER x BASEHUB Yat\u0131r\u0131m Program\u0131 kapsam\u0131nda d\u00fczenlenen oturumda, Y\u00f6netici Orta\u011f\u0131m\u0131z Erdem M\u00fcmtaz Hac\u0131pa\u015fao\u011flu giri\u015fimcilere hukuki perspektiften yat\u0131r\u0131m s\u00fcre\u00e7lerini anlatt\u0131. Oturumda convertible note ve loan kavramlar\u0131 derinlemesine tart\u0131\u015f\u0131ld\u0131; Y Combinator&#8216;\u0131n me\u015fhur dok\u00fcman\u0131 SAFE&#8216;in her versiyonu detayl\u0131ca incelendi ve s\u0131k yap\u0131lan hatalar masaya yat\u0131r\u0131ld\u0131. Konu\u015fman\u0131n merkezindeki tez netti: SAFE ve convertible enstr\u00fcmanlar\u0131 yaln\u0131zca finansal [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[129,207,150],"tags":[],"ppma_author":[127],"class_list":["post-10327","post","type-post","status-publish","format-standard","hentry","category-corporate-tr","category-etkinlikler","category-news-tr"],"authors":[{"term_id":127,"user_id":4,"is_guest":0,"slug":"mumtaz","display_name":"Erdem M\u00fcmtaz Hac\u0131pa\u015fao\u011flu","avatar_url":"https:\/\/virconlegal.com\/wp-content\/uploads\/2026\/05\/mumtaz-hacipasaoglu-v2.jpg","author_category":"","first_name":"Erdem M\u00fcmtaz","last_name":"Hac\u0131pa\u015fao\u011flu","user_url":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/posts\/10327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/comments?post=10327"}],"version-history":[{"count":0,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/posts\/10327\/revisions"}],"wp:attachment":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/media?parent=10327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/categories?post=10327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/tags?post=10327"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/ppma_author?post=10327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}