SAFE Ownership Simulator – 2026 Edition
Description
Most founders sign a SAFE without fully understanding what it means for their cap table when the money actually converts. This simulator is built to make that clear before it happens.
The Pitchwise SAFE Ownership Simulator lets you model all four SAFE structures side by side: no cap and no discount; valuation cap only; discount only; and both cap and discount so you can see exactly how many shares each structure produces and what percentage of the company the investor ends up with.
The model runs across two sheets. The SAFE Simulator sheet handles a single investor with full scenario comparison. You enter six inputs — investment amount, valuation cap, discount rate, shares currently issued, option pool size, and predicted valuation at your next equity round. The model then calculates the price per share under each scenario, clearly labelled by the SAFE type it applies to, and shows you the investor's shares, ownership percentage, and what existing shareholders retain after conversion.
The Multi-SAFE sheet handles up to five investors converting at the same round simultaneously. Each investor can have their own cap and discount. The model calculates shares and ownership for each, totals them, and shows you a clean post-conversion cap table summary — SAFE investors combined versus founders and existing shareholders.
Blue cells are your inputs. Everything else is calculated automatically.
What's inside:
- Single SAFE simulator with all four scenarios modelled side by side
- Calculated price per share for each SAFE type: No Cap/No Discount, Valuation Cap only, Discount only, and Both Cap and Discount, clearly labelled
- Results section showing investor shares, ownership %, and founder retention
- Multi-SAFE sheet for up to 5 investors converting at the same round
- Post-conversion cap table summary showing total dilution across all SAFEs
- Plain English glossary explaining Valuation Cap, Discount Rate, Most Favourable Price, and Fully Diluted
This resource is for:
- Founders who have signed or are about to sign a SAFE and want to understand the dilution impact
- Founders preparing for a priced equity round where existing SAFEs will convert
- Operators and advisors helping early-stage companies model their cap table
- Anyone who wants to understand the difference between a capped and uncapped SAFE before agreeing to terms
