---
title: "Verwässerungsrechner für Beteiligungen"
description: "Interaktives Modell für Verwässerung, Liquidationspräferenzen und Exit-Szenarien."
image: "https://compound.law/assets/images/og-image-de.webp"
source: "https://compound.law/de-DE/equity-dilution-visualizer/"
language: "de"
---

# Equity Dilution Visualizer

Verwässerung, Kontrolle und Exit-Auszahlungen in Sekunden modellieren — mit anwaltlicher Präzision.

Eingabe

## Rundenmechanik mit anwaltlicher Detailtiefe konfigurieren.

### Aktuelle Cap Table

Founder 1

45 45

Founder 2

45 45

Mitarbeiter-Pool %

10 10

### Neue Runde

Pre-Money Bewertung (EUR, Mio.)

12 12

Investitionssumme (EUR, Mio.)

2 2

### Kritische Klauseln

Option Pool Top-up Pre-money: Verwässerung tragen nur die Gründer. Post-money: alle Gesellschafter teilen die Verwässerung.

\[x] Pre-money \[ ] Post-money

Ziel-Option-Pool % Zielgröße des Mitarbeiter-Pools nach der Runde.

10 10

Liquidation Preference Investor wird zuerst bis zu diesem Vielfachen seiner Investition ausgezahlt.

\[x] 1x \[ ] 2x

Participation Participating: Investor erhält Preference plus Pro-rata-Anteil. Non-participating: der höhere der beiden Beträge.

\[x] Non-participating \[ ] Participating

Anti-Dilution Passt die Investor-Beteiligung bei Down-Rounds an. Weighted Average ist milder als Full Ratchet.

\[x] Weighted Average \[ ] Full Ratchet

Verwässerungs-Waterfall

## So verschiebt sich die Beteiligung nach der Runde.

Control SAFE

Post-Money Bewertung €0M

Investor-Anteil 0%

Gründer-Kontrolle 0%

Versteckte Verwässerung 0%

Exit-Szenario

### Was tatsächlich bei den Gründern ankommt.

\[x] Exit aktivieren

Exit-Wert (EUR, Mio.)

60 60

Gründer**€0**

Mitarbeiter-Pool**€0**

Investor**€0**

Gründer-Auszahlung **€0**

Vereinfachtes Modell — Anti-Dilution-Schutz greift nur bei einer Down-Round und wird hier nicht simuliert.

Markt-Benchmarks### Wie sich deine Konditionen im Vergleich zu aktuellen Markdaten einordnen.

Pre-Money Bewertung

Gründer-Verwässerung

Option Pool Größe

Liquidation Preference

Participation Rights

P25–P75 Median Top 10 % You

Quellen: [Carta State of Private Markets 2025](https://carta.com/data/state-of-private-markets-q4-2025/), [Cooley Q4 2025 Venture Financing Report](https://www.cooley.com/news/insight/2026/2026-02-09-q4-2025-venture-financing-report), [Carta Founder Ownership 2026](https://carta.com/data/founder-ownership-2026/), [Index Ventures OptionPlan](https://www.indexventures.com/optionplan/). EUR-Werte angepasst für europäischen Markt.

Analyse

Szenario-Link

Dieses Szenario mit Co-Foundern oder dem Board teilen.

[Term Sheet besprechen](https://compound.law/de-DE/quote/)

Link kopiert.

## Structured data

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