What will you ownafter the round?
Add your SAFEs and your next priced round. See your ownership today, after the SAFEs, and after the round, including the option-pool top-up most founders miss.
| After the round | Shares | Ownership |
|---|
Simplified model following Y Combinator post-money SAFE conventions: SAFEs convert at the lower of the cap price and the discount price, the pool top-up happens before the new money, and it isn't counted in the SAFEs' capitalization. Your lawyer's closing cap table is what counts. Not legal, tax or investment advice.
Three ideas that decidewhat you keep
A post-money SAFE sells a fixed slice
Ownership = investment ÷ post-money cap$1M on a $10M post-money cap is 10% of the company before the next round, whatever happens to the share count.
SAFEs stack, and they come out of you
5% + 7.5% = 12.5% soldEach post-money SAFE takes its slice from the founders and earlier holders. Add them all up before you sign the next one.
The pool top-up is part of the price
Effective pre-money < headlineA new pool created before the money comes in is paid for by existing holders. Compare offers on what you own after everything.
Got a term sheeton the table?
The term-sheet skill in the Raise Skill Pack explains every clause in plain English and writes the questions for your lawyer.
See the Raise Skill PackOr find your biggest gap free, in 2 minutes