Cap Table Calculator

Simulate up to three funding rounds with option-pool top-ups and see what founders, employees and each investor own at the end. The result updates as you type so you can compare scenarios quickly.

The method

How it is worked out

Each round: all holders × (1 − new stake); pool topped up from existing holders before the money lands
post-money stake
Share the round's investors own after closing
pool top-up
Option pool restored to a target before the round

Keep in mind

What it leaves out

  • PreferencesLiquidation preferences change payouts below the headline split.
  • Pro-rataEarlier investors often buy more in later rounds.
  • SAFEs and notesConvertibles convert at the round and add dilution.

Use the calculator to compare scenarios rather than as a guaranteed forecast.

About the Cap Table Calculator

Simulate up to three funding rounds with option-pool top-ups and see what founders, employees and each investor group own at the end, and what founders would take at an exit.

How it works and an example to tryShow less

How to use the result

Each round dilutes every existing holder by the new investor's post-money stake. Where the option pool is topped up before the round, the top-up is taken from existing holders first. Founder payout at exit is the exit value times final founder ownership.

Example to try

Founders at 85% with a 15% pool sell 20% at seed (pool to 12%), 20% at Series A (pool to 10%) and 15% at Series B, ending at 46%. At a £100m exit that is £46m before preferences.

Put it to work

Try it on a real situation

Load an example

What moves the result most

    Worked out from your figures above. Tap a row to try it.

    Who uses it, and when

    Founders planning a fundraising path, employees judging option offers and early investors modelling their stake through later rounds.

    Mistakes worth avoiding

    • Forgetting the pool top-up the investor requires before the round.
    • Assuming a higher valuation always means less dilution overall.
    • Ignoring liquidation preferences when estimating the exit payout.

    Questions

    What does the Cap Table Calculator do?

    Simulate up to three funding rounds with option-pool top-ups and see what founders, employees and each investor own at the end.

    How should I use the result?

    Each round dilutes every existing holder by the new investor's post-money stake. Where the option pool is topped up before the round, the top-up is taken from existing holders first. Founder payout at exit is the exit value times final founder ownership.

    Does TechBullion store the information I enter?

    The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.

    What mistakes do people make with a cap table calculator?

    Forgetting the pool top-up the investor requires before the round. Assuming a higher valuation always means less dilution overall. Ignoring liquidation preferences when estimating the exit payout.

    Is the result guaranteed?

    No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.

    Part of the guide · Instruments and the cap table · 11 tools

    Startup fundraising and equity

    Valuation methods, SAFE and convertible note conversion, cap tables, dilution, option pools, liquidation preferences, burn rate and runway.

    Also under “Instruments and the cap table”

    Open the guide: all 11 tools

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