I have a problem to in case to keep pertcage of share which correct eqation should be use to to ad NA in other question will be add to both side or one side for bothe side or just one side why in quation as my professeur put just in left side which I think is not logical $325,000+$NA$=0\mathrm{.}175\backslash$times $(1,562,500+480,769+$NA$)$Cap Table Simulation

$76$

$2$ Founders invest $100\mathrm{.}000$ EUR each to create their company and create a total of $1\mathrm{.}000\mathrm{.}000$ shares

$$ Q$1$: At the seed round, a Business Angel invest $750\mathrm{.}000$ EUR and ask $20\%$ of shares in return

$$ Q$2$: At the Series$-$A$,$ a VC invest $5\mathrm{.}000\mathrm{.}000$ EUR at a pre$-$money valuation of $20\mathrm{.}000\mathrm{.}000$ EUR. The Series$-$A VC also buys back $5\%$ of the shares of the Business Angel

$$ Q$3$: At the Series$-$B$,$ the company would like to raise $20\mathrm{.}000\mathrm{.}000$ EUR at a pre$-$money valuation of $65\mathrm{.}000\mathrm{.}000$ EUR. A Series$-$B investor will invest alongside with the Series$-$A VC who has decided to also co$-$invest in order to not be diluted below $17\mathrm{.}5\%.$ So the total amount raised $($VC$\_$A $+$ VC$\_$B$)$ will be $20$M$.$