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Cap table and dilution simulator

Add your founders and option pool, then your SAFEs and priced rounds, and see how ownership and the value of each stake change from one round to the next.

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A personal tool, not professional advice. These are calculation tables I built for my own decisions and now share freely. Please check every figure and assumption yourself before relying on it.

Founders and option pool

Currency

Founders and their shares

Only the ratio between founders matters
%

Share of the company reserved for employee options

Funding rounds

1.
₪
₪

Post-money cap. 0 for no cap

%

On the next priced round’s price

2.
₪

Including the pool and any SAFEs converting now

₪
3.
₪

Including the pool and any SAFEs converting now

₪

Founders after the last round

52.58%

Together worth ₪78,868,421 at the last valuation, on paper.
Founder 126.29%
Founder 226.29%
Option pool5.84%
Investors41.58%
Post-money valuation₪150,000,000

Ownership over the rounds

Founding
45%
45%
10%
SAFE₪20M
42%
42%
9%
Seed₪38M
33%
33%
21%
Series A₪150M
26%
26%
17%
20%
Founder 1Founder 2Option poolSAFESeedSeries A

Valuation and share price

SAFE (at cap)₪20,000,000 · ₪1.67
Seed₪38,000,000 · ₪2.50
Series A₪150,000,000 · ₪7.89

Post-money valuation and price per share after each round. A SAFE line uses its cap until it converts.

Cap table after each round

HolderFoundingSAFESeedSeries A
Founder 145.0%5,000,00041.63%₪8.3M32.86%₪12.5M26.29%₪39.4M
Founder 245.0%5,000,00041.63%₪8.3M32.86%₪12.5M26.29%₪39.4M
Option pool10.0%1,111,1119.25%₪1.8M7.3%₪2.8M5.84%₪8.8M
SAFE-7.5%₪1.5M5.92%₪2.3M4.74%₪7.1M
Seed--21.05%₪8M16.84%₪25.3M
Series A---20.0%₪30M
Total shares11,111,11112,012,01215,215,21519,019,019

Percentage of the company and, below, the value of the stake at that round’s valuation (or the number of shares when there is no valuation yet).

SAFEs are modelled as post-money SAFEs: they convert at the lower of the cap and the discounted round price, and dilute existing holders, not the new investors. Pool top-ups, pro-rata rights, liquidation preferences and convertible notes with interest are not included.

These calculators are spreadsheets I originally made for my own use, shared as they are to help you think things through. They give estimates based on the published rates for the current tax year and on the assumptions you enter, and they may contain errors or simplifications. They are not tax, legal or financial advice: check all the information yourself and with a licensed accountant, lawyer or mortgage adviser before making any decision.