Martin's Valuation Cap Spreadsheet (posted by DROdio)
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For "Edit" access instructions, please visit:
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http://go.danielodio.com/convertible-notes
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My top AngelList tips:http://go.DanielOdio.com/angellist
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My top fundraising tips:http://go.DanielOdio.com/top-tips
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Input parameters:
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Amount raised on conv. note$500,000
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Base discount on conversion20.00%
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Pre-money valuation cap$4,000,000
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Equity taken in Seed Round30.00%
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Series A investmentSeries A post-money valuationSeries A pre-money valuationEquity from note (conv at base discount)Equity from note (conv at valuation cap)Equity from note (max)Effective post-money val for conversionEffective conversion discount
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$700,000$2,333,333$1,633,33326.8%8.75%26.79%$1,866,66720.00%
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$800,000$2,666,667$1,866,66723.4%8.75%23.44%$2,133,33320.00%
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$900,000$3,000,000$2,100,00020.8%8.75%20.83%$2,400,00020.00%
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$1,000,000$3,333,333$2,333,33318.8%8.75%18.75%$2,666,66720.00%
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$1,100,000$3,666,667$2,566,66717.0%8.75%17.05%$2,933,33320.00%
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$1,200,000$4,000,000$2,800,00015.6%8.75%15.63%$3,200,00020.00%
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$1,300,000$4,333,333$3,033,33314.4%8.75%14.42%$3,466,66720.00%
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$1,400,000$4,666,667$3,266,66713.4%8.75%13.39%$3,733,33320.00%
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$1,500,000$5,000,000$3,500,00012.5%8.75%12.50%$4,000,00020.00%
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$1,600,000$5,333,333$3,733,33311.7%8.75%11.72%$4,266,66720.00%
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$1,700,000$5,666,667$3,966,66711.0%8.75%11.03%$4,533,33320.00%
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$1,800,000$6,000,000$4,200,00010.4%8.75%10.42%$4,800,00020.00%
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$1,900,000$6,333,333$4,433,3339.9%8.75%9.87%$5,066,66720.00%
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$2,000,000$6,666,667$4,666,6679.4%8.75%9.38%$5,333,33320.00%
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$2,100,000$7,000,000$4,900,0008.9%8.75%8.93%$5,600,00020.00%
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$2,200,000$7,333,333$5,133,3338.5%8.75%8.75%$5,714,28622.08%
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$2,300,000$7,666,667$5,366,6678.2%8.75%8.75%$5,714,28625.47%
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$2,400,000$8,000,000$5,600,0007.8%8.75%8.75%$5,714,28628.57%
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$2,500,000$8,333,333$5,833,3337.5%8.75%8.75%$5,714,28631.43%
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$2,600,000$8,666,667$6,066,6677.2%8.75%8.75%$5,714,28634.07%
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$2,700,000$9,000,000$6,300,0006.9%8.75%8.75%$5,714,28636.51%
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$2,800,000$9,333,333$6,533,3336.7%8.75%8.75%$5,714,28638.78%
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$2,900,000$9,666,667$6,766,6676.5%8.75%8.75%$5,714,28640.89%
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$3,000,000$10,000,000$7,000,0006.3%8.75%8.75%$5,714,28642.86%
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$3,100,000$10,333,333$7,233,3336.0%8.75%8.75%$5,714,28644.70%
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$3,200,000$10,666,667$7,466,6675.9%8.75%8.75%$5,714,28646.43%
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$3,300,000$11,000,000$7,700,0005.7%8.75%8.75%$5,714,28648.05%
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$3,400,000$11,333,333$7,933,3335.5%8.75%8.75%$5,714,28649.58%
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$3,500,000$11,666,667$8,166,6675.4%8.75%8.75%$5,714,28651.02%
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$3,600,000$12,000,000$8,400,0005.2%8.75%8.75%$5,714,28652.38%
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$3,700,000$12,333,333$8,633,3335.1%8.75%8.75%$5,714,28653.67%
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$3,800,000$12,666,667$8,866,6674.9%8.75%8.75%$5,714,28654.89%
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$3,900,000$13,000,000$9,100,0004.8%8.75%8.75%$5,714,28656.04%
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$4,000,000$13,333,333$9,333,3334.7%8.75%8.75%$5,714,28657.14%
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$4,100,000$13,666,667$9,566,6674.6%8.75%8.75%$5,714,28658.19%
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$4,200,000$14,000,000$9,800,0004.5%8.75%8.75%$5,714,28659.18%
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$4,300,000$14,333,333$10,033,3334.4%8.75%8.75%$5,714,28660.13%
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$4,400,000$14,666,667$10,266,6674.3%8.75%8.75%$5,714,28661.04%
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$4,500,000$15,000,000$10,500,0004.2%8.75%8.75%$5,714,28661.90%
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$4,600,000$15,333,333$10,733,3334.1%8.75%8.75%$5,714,28662.73%
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$4,700,000$15,666,667$10,966,6674.0%8.75%8.75%$5,714,28663.53%
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$4,800,000$16,000,000$11,200,0003.9%8.75%8.75%$5,714,28664.29%
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$4,900,000$16,333,333$11,433,3333.8%8.75%8.75%$5,714,28665.01%
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$5,000,000$16,666,667$11,666,6673.8%8.75%8.75%$5,714,28665.71%
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$5,100,000$17,000,000$11,900,0003.7%8.75%8.75%$5,714,28666.39%
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$5,200,000$17,333,333$12,133,3333.6%8.75%8.75%$5,714,28667.03%
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$5,300,000$17,666,667$12,366,6673.5%8.75%8.75%$5,714,28667.65%
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$5,400,000$18,000,000$12,600,0003.5%8.75%8.75%$5,714,28668.25%
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$5,500,000$18,333,333$12,833,3333.4%8.75%8.75%$5,714,28668.83%
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$5,600,000$18,666,667$13,066,6673.3%8.75%8.75%$5,714,28669.39%
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$5,700,000$19,000,000$13,300,0003.3%8.75%8.75%$5,714,28669.92%
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$5,800,000$19,333,333$13,533,3333.2%8.75%8.75%$5,714,28670.44%
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$5,900,000$19,666,667$13,766,6673.2%8.75%8.75%$5,714,28670.94%
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$6,000,000$20,000,000$14,000,0003.1%8.75%8.75%$5,714,28671.43%
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$6,100,000$20,333,333$14,233,3333.1%8.75%8.75%$5,714,28671.90%
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$6,200,000$20,666,667$14,466,6673.0%8.75%8.75%$5,714,28672.35%
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$6,300,000$21,000,000$14,700,0003.0%8.75%8.75%$5,714,28672.79%
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$6,400,000$21,333,333$14,933,3332.9%8.75%8.75%$5,714,28673.21%
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$6,500,000$21,666,667$15,166,6672.9%8.75%8.75%$5,714,28673.63%
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$6,600,000$22,000,000$15,400,0002.8%8.75%8.75%$5,714,28674.03%
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$6,700,000$22,333,333$15,633,3332.8%8.75%8.75%$5,714,28674.41%
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$6,800,000$22,666,667$15,866,6672.8%8.75%8.75%$5,714,28674.79%
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$6,900,000$23,000,000$16,100,0002.7%8.75%8.75%$5,714,28675.16%
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$7,000,000$23,333,333$16,333,3332.7%8.75%8.75%$5,714,28675.51%
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$7,100,000$23,666,667$16,566,6672.6%8.75%8.75%$5,714,28675.86%
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$7,200,000$24,000,000$16,800,0002.6%8.75%8.75%$5,714,28676.19%
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$7,300,000$24,333,333$17,033,3332.6%8.75%8.75%$5,714,28676.52%
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$7,400,000$24,666,667$17,266,6672.5%8.75%8.75%$5,714,28676.83%
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$7,500,000$25,000,000$17,500,0002.5%8.75%8.75%$5,714,28677.14%
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$7,600,000$25,333,333$17,733,3332.5%8.75%8.75%$5,714,28677.44%
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$7,700,000$25,666,667$17,966,6672.4%8.75%8.75%$5,714,28677.74%
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$7,800,000$26,000,000$18,200,0002.4%8.75%8.75%$5,714,28678.02%
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$7,900,000$26,333,333$18,433,3332.4%8.75%8.75%$5,714,28678.30%
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$8,000,000$26,666,667$18,666,6672.3%8.75%8.75%$5,714,28678.57%
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$8,100,000$27,000,000$18,900,0002.3%8.75%8.75%$5,714,28678.84%
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$8,200,000$27,333,333$19,133,3332.3%8.75%8.75%$5,714,28679.09%
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$8,300,000$27,666,667$19,366,6672.3%8.75%8.75%$5,714,28679.35%
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$8,400,000$28,000,000$19,600,0002.2%8.75%8.75%$5,714,28679.59%
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$8,500,000$28,333,333$19,833,3332.2%8.75%8.75%$5,714,28679.83%
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$8,600,000$28,666,667$20,066,6672.2%8.75%8.75%$5,714,28680.07%
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$8,700,000$29,000,000$20,300,0002.2%8.75%8.75%$5,714,28680.30%
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$8,800,000$29,333,333$20,533,3332.1%8.75%8.75%$5,714,28680.52%
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$8,900,000$29,666,667$20,766,6672.1%8.75%8.75%$5,714,28680.74%
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$9,000,000$30,000,000$21,000,0002.1%8.75%8.75%$5,714,28680.95%
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$9,100,000$30,333,333$21,233,3332.1%8.75%8.75%$5,714,28681.16%
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$9,200,000$30,666,667$21,466,6672.0%8.75%8.75%$5,714,28681.37%
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$9,300,000$31,000,000$21,700,0002.0%8.75%8.75%$5,714,28681.57%
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$9,400,000$31,333,333$21,933,3332.0%8.75%8.75%$5,714,28681.76%
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