Round dilution and cap table calculator
What a round actually costs you in ownership: the option pool, any SAFEs converting, and the new investor. The pool is created before the round, so it dilutes you and not them — that is where the number usually surprises people.
| Ownership after the round | Percent |
|---|---|
| Founders | 56 |
| Existing investors | 14 |
| Option pool | 10 |
| New investor | 20 |
Questions
Why does the option pool dilute only the founders?
Because it is almost always created pre-money, before the new investor's shares are issued. A 10% pool on top of a 20% round is not 30% of dilution shared evenly — the pool comes out of the existing holders alone.
How is the SAFE converted here?
At the better of the two for the holder: the valuation cap or the discount to the round price. Using only the cap is a common shortcut, and it understates dilution.
Is this a substitute for a real cap table?
No. It shows the shape of the outcome so you can negotiate with the right number in mind. The binding version comes from your lawyer and your share register.