Water in Salt — Cap Table

Inspect a round:

Dilution over time — who owns what after each round

Click a bar or a column header to inspect that round

Cap Table per Round

Calculated automatically from inputs · highlighted column = selected round

How the math works (standard VC convention): each ESOP top-up (to 8% post-Seed, 10% post-A, 12% post-B) is created in the pre-money — it dilutes existing holders only, never the incoming investor. The investor's stake is therefore exactly raise ÷ post-money (Seed: $3.28M ÷ $11.28M = 29.1%), and the price per share shown is the effective price the investor pays after the pool top-up. This matches how institutional term sheets (incl. iif.vc) define the option pool.

Funding Rounds — Inputs

editing

Round	Year	Pre-money ($)	Raise ($)	Post-money ($)	ESOP after (%)	Price / share ($)	Investor %

Shareholders — Founding Allocations

Name	Role	Class	Founding shares	% founding
TOTAL				100%

Note: Founders subject to reverse vesting (48 months, 12-month cliff) per TS iif.vc. Full-ratchet anti-dilution applies to Seed investor in event of down-round — consider negotiating to broad-based weighted-average.

Reverse Vesting — Founders

Reference date: · default

Person	Shares	Vesting start	Months	Cliff	Elapsed	% vested	Vested shares	Unvested (at risk)

Reverse vesting (TS iif.vc): unvested founder shares can be bought back at nominal value if a founder leaves before full vesting. Standard protection — signals commitment to investors.

ESOP — Option Grants Registry

Pool after Seed: · granted: · remaining:

Beneficiary	Role	Shares	Grant date	Months	Cliff	% vested	Vested	Strike ($)

Cap Table & Funding Rounds

Dilution over time — who owns what after each round

Cap Table per Round

Funding Rounds — Inputs

Shareholders — Founding Allocations

Reverse Vesting — Founders

ESOP — Option Grants Registry

Ownership —

Valuation Staircase ($M)

Founder Value at Each Stage ($M)