Question 1

How do SAFEs affect dilution differently from a priced round?

Accepted Answer

A SAFE does not dilute anyone when it is signed; it converts into shares at the next priced round, usually at a valuation cap or discount that gives the SAFE holder a lower price per share than the new investors. Because conversion happens at the same time as the new round, founders often underestimate total dilution, since the SAFE shares and the new money shares both come out of the pre-round ownership.

Question 2

Does the option pool dilute founders or investors?

Accepted Answer

In most standard term sheets the option pool is created or topped up pre-money, which means existing shareholders — primarily the founders — absorb the dilution rather than the incoming investor. A 10% post-money pool established pre-money can cost founders noticeably more than 10% of their stake once the round closes.

Question 3

How does infrastructure cost relate to equity dilution?

Accepted Answer

Runway is capital divided by net burn, and for AI and API-heavy products inference and cloud spend is often the largest line in that burn. Lowering cost per user extends runway at the same raise amount, which lets you raise less now or raise later at a higher valuation — both of which mean less dilution per dollar of funding.

Calculadora de diluição de patrimônio

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Rodadas de financiamento

Como funciona esta calculadora

Perguntas frequentes

Como os SAFEs afetam a diluição de forma diferente de uma rodada com preço?

O pool de opções dilui fundadores ou investidores?

Como o custo da infraestrutura se relaciona com a diluição do capital?