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What this round does to your ownership
Most dilution calculators tell you what the cheque costs you. This one also shows what the option pool costs you, which is the part founders find out at closing.
Last reviewed 2026-08-22
- Post-money valuation
- ₦500,000,000
- The investor gets
- 20.0%
- The option pool takes
- 15.0%
- You keep
- 65.0%
- Worth, at this valuation
- ₦325,000,000
- Lost to the investor's cheque
- 20.0 pts
- Lost to the option pool
- 15.0 pts
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The option pool shuffle, in one paragraph
A term sheet says “15% option pool”. It is almost always created out of the pre-money valuation, which means the people already on the cap table pay for all of it and the new investor’s percentage is untouched. A founder reading “₦100m at a ₦400m pre-money” works out their dilution from the cheque, gets 20%, and is surprised when the closing documents say 35%.
It is negotiable. You can ask for the pool to come out of the post-money, so both sides share it, or you can size it against an actual hiring plan for the next eighteen months rather than accepting a round number. Either conversation is easier to have before you sign the term sheet than after.
A smaller slice is not automatically a worse outcome
The percentage matters less than what the money buys. A smaller share of a company that reached its next milestone is usually worth more than a larger share of one that ran out of runway. The point of knowing the number is to negotiate the parts that are negotiable, not to minimise dilution at any cost.
Put these numbers where an investor can read them
The GTM profile holds them as structured fields, scores what you have against a published rubric, and shows which blank one costs you the most.
Questions: support@ranked.ng