Cap Table Builder

Cap Table Order Matters: The order of entities in your cap table matters for waterfall calculations. Investors at the top get paid first.

Liquidation Preference: 1x non-participating is standard. Participating preferred lets investors get their money back AND participate in the remaining proceeds — this significantly reduces founder payouts.

SAFE Conversion: SAFEs convert at the lower of their cap or the discount to the next priced round. Plan for how they'll affect your dilution.

Option Pool: Keep your option pool large enough for future hires (15-20% is common at seed stage), but remember it dilutes existing shareholders.