SAFE Conversion Calculator
How many shares will my SAFE convert into?
A SAFE turns into equity at the next priced round. The investor gets the better of the cap price or the discounted round price.
How this calculator works
Round price = pre-money ÷ shares. Cap price = cap ÷ shares. Discount price = round price × (1 − discount). The SAFE converts at the lowest of these, and shares = SAFE amount ÷ conversion price. This is a simplified pre-money model; post-money SAFEs and option-pool top-ups change the exact numbers.
Frequently asked questions
What is a SAFE?
A Simple Agreement for Future Equity is an early-stage contract where an investor gives money now and receives shares later, usually at the next priced round, on terms set by a valuation cap and/or discount.
Cap or discount — which applies?
Whichever gives the investor the lower price per share. The cap matters most when the next round’s valuation is far above the cap.
Results are estimates based on the numbers you enter and simplified assumptions. They are not financial advice. See our disclaimer.