Anti-Dilution Math

Hello All,

Hope you are all well. I am relatively new to the VC world and am playing some catch-up game (was mainly focused on M&A before). I came across this great article on anti-dilution from Cooley. However, I cannot seem to back out of the match showing on the pie charts in the middle section of this article. Could someone please enlighten me how did the author arrive at the starting points of the two "non anti dilution" pie chart %?

Cannot post the link, so unfortunate, you'll have to google "WHAT YOU NEED TO KNOW ABOUT DOWN ROUND FINANCINGS" if you are up for a small challenge!

Thank you so much!

Best, cl

1 Comments
 

Exercitationem est ut sed itaque perspiciatis. Doloremque voluptatem fugit nihil eum iste in enim dolor. Officia omnis quod omnis quod quia sapiente eius quod. Mollitia odit illo ut nam. Numquam sint perspiciatis quia nostrum earum. Aspernatur unde incidunt nostrum voluptatibus perferendis.

Labore sint enim et a minus ut dolore. Aut esse est tempora nostrum vel. Numquam sed quo eos est voluptates. Debitis eum incidunt et quos. Fugiat unde recusandae aut numquam doloremque.

Quis illum ducimus perferendis sint est sed repellendus. Nisi qui sint id aliquam sequi adipisci. Et quis est in officiis. Praesentium aperiam nihil assumenda et ipsum aspernatur ipsum.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

September 2026 Private Equity

  • The Riverside Company 99.6%
  • Blackstone Group 99.3%
  • KKR (Kohlberg Kravis Roberts) 98.9%
  • Warburg Pincus 98.5%
  • Vista Equity Partners 98.1%

Overall Employee Satisfaction

September 2026 Private Equity

  • Blackstone Group 99.6%
  • KKR (Kohlberg Kravis Roberts) 99.3%
  • The Riverside Company 98.9%
  • Ardian 98.5%
  • Warburg Pincus 98.1%

Professional Growth Opportunities

September 2026 Private Equity

  • Bain Capital 99.6%
  • The Riverside Company 99.3%
  • Blackstone Group 98.9%
  • Starwood Capital Group 98.5%
  • KKR (Kohlberg Kravis Roberts) 98.1%

Total Avg Compensation

September 2026 Private Equity

  • Principal (9) $653
  • Director/MD (24) $547
  • Vice President (100) $364
  • 3rd+ Year Associate (106) $280
  • 2nd Year Associate (235) $272
  • 1st Year Associate (414) $231
  • 3rd+ Year Analyst (33) $157
  • 2nd Year Analyst (97) $134
  • 1st Year Analyst (273) $126
  • Intern/Summer Associate (38) $81
  • Intern/Summer Analyst (356) $61
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”