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Fundraising calculators
12 calculators for the numbers that come up in every raise, from founder dilution to a fund waterfall and a lender's coverage test. Each shows its formula and a worked example.
Company rounds
Ownership, investor pipeline and adviser fees for an equity round.
Round dilution
Work out post-money valuation, the new investor stake and founder ownership after a priced round with an option pool top-up.
Open calculatorInvestor pipeline
Work back from your raise target and average cheque to the investors you need in the room, the meetings and the first contacts.
Open calculatorPlacement agent fee
Estimate the all-in cost of a placement agent: success fee, monthly retainer, whether retainers are credited, expenses and the effective rate.
Open calculatorFund and deal returns
Fund fees, carry, returns, capital calls and syndication splits.
Fund size and management fees
Estimate total management fees over a fund's life, the fee share of commitments, the yearly fee budget and the capital left to invest.
Open calculatorCarried interest waterfall
Split fund distributions between LPs and the GP: return of capital, preferred return, GP catch-up and carried interest in a whole-fund waterfall.
Open calculatorIRR and MOIC
Turn invested and returned capital over a holding period into MOIC and an annualized IRR, gross and net of fees and carry.
Open calculatorCapital call schedule
Plan how a commitment is drawn down: the first-year call, later yearly calls, the size of each call notice and the reserve left uncalled.
Open calculatorSyndication pref and split
Split a syndication's yearly cash flow between LP investors and the sponsor: preferred return first, then the split above it, with any shortfall.
Open calculatorCash and debt
Runway through a raise and debt coverage for a loan.
DSCR for a debt raise
Work out the debt service coverage ratio on a loan, the yearly debt service and the largest loan your NOI supports at the lender's minimum DSCR.
Open calculatorRunway through a raise
See how many months of cash you have now, what is left when the round closes and how long the new money lasts at the higher burn.
Open calculatorRaise planning
How long the raise takes and what the data room costs.
Raise timeline planner
Estimate the weeks from preparation to first close for a company round, a fund raise, a real estate raise or a debt raise.
Open calculatorData room cost for a raise
Estimate what a data room costs for a whole raise: monthly price, extra users and storage, one-off fees and the cost per investor.
Open calculatorQuestions and answers
Are the calculators accurate enough for investor documents?
They are planning tools with simplified formulas, shown on each page. Investor documents need a model built for your raise and checked by your advisers.
Do you store what I type?
No. The numbers stay in your browser; nothing is sent to us.
Which calculator should a first-time fund manager start with?
The management fee calculator for the firm budget, then the timeline planner for the raise itself.