Current Priced Round
Total amount being raised in the current priced equity round.
Company valuation before the new priced round.
If entered, the calculator will compute the SAFE conversion price per share.
SAFE Details
The SAFE converts only when a qualified priced round of at least this size occurs.
Conversion Terms
Cap Table Impact
Results
Enter your round and SAFE terms, then press Calculate Conversion to see how the SAFE converts.
About the SAFE Calculator
The SAFE calculator shows startup founders and investors how a Simple Agreement for Future Equity converts into shares during a priced equity round. Enter your round size, pre-money valuation, SAFE amount, valuation cap, and discount to see the effective conversion valuation, SAFE holder ownership, founder dilution, and the final cap table.
Valuation cap vs discount
A SAFE typically converts at whichever term gives the investor the better price: the valuation cap or the discount to the round price. If a SAFE has a $6M cap and a 20% discount into a round priced at an $8M pre-money valuation, the discount implies a $6.4M conversion valuation, so the $6M cap wins and the SAFE holder receives more ownership. The calculator compares every method side by side and highlights the winner.
Post-money vs pre-money SAFEs
With a post-money SAFE, the standard YC instrument since 2018, the investor ownership is locked as the SAFE amount divided by the post-money valuation cap, making dilution predictable for the investor and fully borne by founders. Pre-money SAFEs leave ownership dependent on other convertibles in the round. The calculator supports both types along with qualified financing thresholds and MFN clauses.
Who this calculator is for
- -Founders raising on SAFEs before a priced seed or Series A round
- -Modeling SAFE dilution before signing a term sheet
- -Comparing valuation cap and discount scenarios
- -Angel investors estimating ownership at conversion
- -Preparing a fully diluted cap table with SAFEs outstanding