SAFE Ownership Calculator

How to Use This Tool

Enter your SAFE details — the investment amount and valuation cap. Then enter your priced round terms (pre-money valuation and new investment). The calculator shows how the SAFE converts into equity and what everyone owns after the round closes.

Why This Matters

SAFEs are the most common instrument for early-stage fundraising, but most founders don't fully understand how they convert. A $1,000,000 SAFE with a $10,000,000 cap converts very differently than one with a $5,000,000 cap — potentially giving the investor twice as much ownership. Understanding this math before you sign is essential.

Stacking SAFEs: the hidden risk

Many founders raise multiple SAFEs at different caps before a priced round. When they all convert simultaneously, the total dilution can be shocking. If you've raised $3,000,000 across three SAFEs at different caps, model the conversion of ALL of them together — not individually. The combined dilution is always worse than founders expect.

What to Do With Your Results

1. 1Stack multiple SAFEs — model what happens when all your SAFEs convert at once.
2. 2Compare with convertible notes — use different discount rates and caps to compare instruments.
3. 3Plan your priced round — see how different Series A valuations affect SAFE conversion and your ownership.