You can now model unpriced funding rounds – SAFEs, Advance Subscription Agreements and Convertible loan notes within the app and see the impact of different funding scenarios in terms of ownership and dilution for both existing and new stakeholders.
1. Navigate to Fundraising > Unpriced round modelling.
2. Fill out the expected priced round terms needed to calculate the conversions of the unpriced investments (SAFEs, ASAs and Convertible notes). Click the information icon (i) next to each instrument for a detailed explanation.
3. Add at least one investment by clicking either on the instrument-specific card or by clicking on Add new investment.
When adding the investment, you can either create a new, temporary stakeholder (not added to the actual cap table), or select an existing stakeholder from the cap table. Once all the required information has been added click Add investment.
4. Fill out the priced terms and at least one investment, the outputs section will appear.
You can select one of the stakeholders (either new investors from the convertibles or existing stakeholders) to see how the conversions and new priced round terms are affecting their ownership.
5. Not all values input can result in valid calculations. For example, using a target available pool too high may not leave enough remaining equity for the priced investors and convertible loan notes ownership, in which case we display an error message prompting you to revisit the inputs.