Pre/post-money pool top-ups

Methods and settings

Link one eligible round

Choose Funding treatment and a funding round in the top-up action. The linked round must be active, unapplied and Fully Diluted based. The top-up must remain immediately before or after it among active unapplied steps; selecting the treatment positions it accordingly. Only one linked top-up per funding round is supported. Reordering another active action into that pair creates a setup error.

Understand pre-money target sizing

For a pre-money percentage target, the round needs positive pre-money equity value and a derived issue price, not an explicit price override. Increasing the pool increases pre-money FD shares, lowers price/share and can increase the investor shares purchased. The target calculation includes that feedback and tests the pool percentage at the linked round’s closing state. Existing holders therefore bear a different dilution pattern from a post-money top-up.

Understand post-money dilution

A post-money top-up follows the funding round. Its new awards increase FD after the investor’s shares already exist. Existing holders and the new investor are then diluted according to their post-round holdings. This does not retrospectively lower the round price. Compare holder percentage-point and relative dilution outputs, not only the final pool percentage.

Compare the same 20% target

Start with 1,000 existing shares, no awards, pre-money value 1,000 and investment 250; use a full-pool available target of 20%. A pre-money target requires about 333.33 pool units and 333.33 investor shares: closing FD is 1,666.67, investor 20%, pool 20%, existing holders 60%. Without a pre-top-up, the round first issues 250 shares; a post-top-up of 312.5 then gives pool 20%, investor 16% and existing holders 64%. These synthetic figures use the product’s continuous share arithmetic.

Respect target and action boundaries

Target sizing requires full-pool FD inclusion and a feasible combined ownership result. Explicit units remain an alternative when a percentage-target setup is incompatible. These are simplified equal-economic dilution calculations, not negotiated legal definitions. Both top-up and funding remain noncommitted until the complete active sequence is applied.