Most popular · Free tool
Cap table simulator: dilution across rounds
Add your founders, an option pool and up to three rounds. The table shows who owns what after each round and what the founders would share at an exit.
| Holder | Start | After Pre-seed$4.60M post | After Seed$14.5M post |
|---|---|---|---|
| Founder 1 | 54.0% | 47.0% | 37.4% |
| Founder 2 | 36.0% | 31.3% | 24.9% |
| Option pool | 10.0% | 8.7% | 10.0% |
| Pre-seed investors | – | 13.0% | 10.4% |
| Seed investors | – | – | 17.2% |
| Founders at exit ($50.0M) | $45.0M | $39.1M | $31.2M |
How much do founders own after a seed round?
A typical path: founders start at 100 percent, set aside 10 percent for a pool, give up 15 to 20 percent at pre-seed and another 15 to 25 percent at seed. After a Series A most founding teams hold 40 to 55 percent combined. The exact numbers depend on round sizes and valuations, which is what this simulator is for.
How do option pool top-ups dilute founders?
A top-up created before a round dilutes existing holders only. If the pool is already large enough, the new investors’ share dilutes it along with everyone else. Set the top-up to zero to see the difference.
What does the exit row show?
The founders’ combined share times the exit valuation, ignoring liquidation preferences. With a 1x non-participating preference investors take the higher of their preference or their share, so at low exit values the founders’ share is smaller than the table shows.
What this simulator leaves out
SAFEs and notes converting into the round, multiple share classes, pro-rata exercise and preferences. Use the Valuation Calculator for conversions and the Valuation Trap Simulator to test a down round.
Questions founders ask
Can I model four founders?
Yes, up to four with any split; shares are scaled to 100 percent.
Why does the pool percentage change between rounds?
Each round dilutes the pool unless a top-up resets it to the target percentage of the post-money.
Is my data stored?
No. Everything runs in your browser.
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