The term-sheet and fund math that actually decides outcomes — free, interactive, no signup. Definitions live in the VC glossary.
What a round really costs every existing holder — including the option-pool carve-out that lowers your effective pre-money.
Cap vs. discount: see exactly what a post-money SAFE converts into at the next priced round, and which term governs.
The math VCs run on every check — what exit value one position needs to pay back the entire fund.