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Accelerator
Deals
Avg Investment
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Avg Equity
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Avg Implied Valuation
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%
Equity % shown is the minimum guaranteed dilution (≥) under each program's standard terms. SAFE (Simple Agreement for Future Equity) does not set a price immediately — only the fixed-equity portion is used for valuation. Uncapped SAFE has no valuation cap and converts at the next round's most favorable terms, adding dilution beyond the displayed %. MFN (Most Favored Nation) means the SAFE adopts any better terms offered to later investors. Programs marked "≥X%" have uncapped/MFN components not included in the displayed percentage. Fixed equity and post-money SAFE deals show the exact percentage.
Σ
Mean and median are shown for all programs with explicit cash and fixed equity. — Avg Investment: sum of investments > $0 ÷ count (equity-free excluded; combo deals use total value; €/£/KRW converted at ≈Feb 2026 rates). — Avg Equity: sum of equity % > 0% ÷ count (null/undisclosed excluded; min-dilution rule). — Avg Valuation: implied val = fixed cash ÷ equity %. Combo deals use only the fixed portion (e.g. YC: $125k ÷ 7% ≈ $1.8M). — Medians may better represent the "typical" deal as outliers (e.g. a16z $500k, Neo $750k) can skew the mean. All values are approximate (≈).
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Programs change frequently. Some (especially OpenAI / Anthropic) do not publicly disclose fixed credit amounts — typically distributed via VC/partner referral.