market-benchmarks

Market Benchmarks

Compute portfolio-wide benchmarks from your own Carta data: option pool sizes, SAFE valuation caps, and round sizes. Useful for sanity-checking a new deal's terms against your existing portfolio.

Note: This reflects your firm's portfolio, not Carta-wide market data. Present results as "portfolio benchmarks" not "market data."

Prerequisites

No inputs required — this skill loops the full portfolio automatically. Cap at 20 companies.

Commands

• list_accounts — get all portfolio companies
• fetch("cap_table:get:cap_table_by_share_class", {"corporation_id": corporation_id}) — option pool data
• fetch("cap_table:get:convertible_notes", {"corporation_id": corporation_id}) — SAFE/note terms
• fetch("cap_table:get:financing_history", {"corporation_id": corporation_id}) — round sizes

Key Fields

From cap table (option pool):

• option_plans[].authorized_shares: shares authorized per plan
• totals.total_fully_diluted: total fully diluted share count

From convertible notes:

• price_cap: SAFE/note valuation cap
• discount_percent: discount rate (e.g. "20.00" = 20%)
• interest_rate: annual interest rate
• is_debt: false = SAFE, true = convertible note

From financing history:

• round_name: round name
• cash_paid: amount paid per security (sum by round_name for round total)
• issue_date: close date

How to Present

See Step 4 below. Present as benchmark tables grouped by metric.

Step 1 — Get Portfolio

Call list_accounts. Filter to corporation_pk: accounts. Extract up to 20 numeric corporation IDs.

Step 2 — Collect Data Per Company

For each company, fetch in sequence:

Cap table by share class (for option pool %):

• fetch("cap_table:get:cap_table_by_share_class", {"corporation_id": corporation_id})
• From option_plans[]: sum authorized_shares across all plans
• From totals.total_fully_diluted: compute option pool % = option_pool_authorized / total_fully_diluted

SAFE / convertible note terms:

• fetch("cap_table:get:convertible_notes", {"corporation_id": corporation_id})
• Key fields per instrument: price_cap, discount_percent, interest_rate, is_debt (false=SAFE, true=note)
• Collect all valuation caps for SAFEs

Financing history (for round sizes):

• fetch("cap_table:get:financing_history", {"corporation_id": corporation_id})
• Key fields: round_name, amount_raised, issue_date
• Identify the most recent priced round and its size

Step 3 — Compute Summary Statistics

For each metric, compute across companies that have data:

• Median, min, max
• Skip companies with no data for a given metric (don't count as zero)

Metrics:

• Option pool % (fully diluted)
• SAFE valuation cap
• Last priced round size

Step 4 — Present Results

Portfolio Benchmarks (N companies)

Option Pool Size (% Fully Diluted)

Metric	Value
Median	12.5%
Range	8% – 20%
Companies with data	14

SAFE Valuation Caps

Metric	Value
Median	$8,000,000
Range	$3M – $25M
SAFEs analyzed	28

Last Priced Round Size

Metric	Value
Median	$5,000,000
Range	$500K – $30M
Companies with priced rounds	10

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If the user asks about a specific company ("how does Acme's option pool compare?"), show that company's value alongside the portfolio median.