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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.

1Your company today

Don't know your share count? Leave the defaults. The percentages work the same for any total.

2Your SAFEs

Post-money SAFEs, like Y Combinator's. Type amounts like 250k or 10m. Leave the cap or the discount empty if your SAFE doesn't have one.

3Your next priced round

$
$
%
Your ownership, founders combined
Today90%
After the SAFEs–
After the round–
After the roundSharesOwnership

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.

How the math works

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% sold

Each 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 < headline

A new pool created before the money comes in is paid for by existing holders. Compare offers on what you own after everything.

Read the full SAFE and term sheet guide →YC's official SAFE documents →

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.

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