Accelerator Deal Terms Compared: How Much Equity Do Accelerators Take in 2026?

Most top accelerators take between 5% and 10% of your company for their first check. But the percentage is only part of the deal. Today's terms often combine a fixed-equity check with an uncapped SAFE, a follow-on commitment, or a fee, and those details change what you actually give up. Here's how the leading programs' deals compare in 2026.

Deal Terms Side by Side

First, What Is an Uncapped MFN SAFE?

Several deals above pair a fixed-equity check with an "uncapped MFN SAFE." A SAFE is an agreement that gives an investor the right to future shares. "Uncapped" means it has no valuation cap, and "MFN" (most favored nation) means it automatically gets the best terms you later give other SAFE investors.

In practice, the uncapped MFN money converts at whatever valuation you raise at next. YC's own example: if your later SAFE investors get a $15M cap, YC's $375K converts to 2.5%.^[1] The higher your next valuation, the less that money costs you. It's the reason a "$500K" or "$400K" deal doesn't cost as much equity as a single priced check of the same size would.

Y Combinator: 7% + an Uncapped SAFE

YC invests $125K on a post-money SAFE for 7% (calculated including any existing option pool), plus $375K on an uncapped MFN SAFE. YC also gets pro-rata rights, charges no fees, and attaches no milestones to the money.^[1] YC introduced the $500K structure in January 2022; before that, the standard deal was $125K for 7%.^[2]

What it costs: 7% plus however much the $375K converts to at your next round, for example about 2.5% at a $15M cap.^[1]

a16z speedrun: 10% for $500K

speedrun invests $500K for 10% on a SAFE, and can invest up to $500K more if you raise a next round of $2M or more within 18 months. It also asks for pro-rata rights and an option pool, and doesn't take a board seat.^[3]

What it costs: 10% for $500K implies a $5M post-money valuation, a lower price than YC's uncapped money, but a much bigger guaranteed upfront check.

Techstars: 5% + an Uncapped SAFE

In 2025, Techstars replaced its old deal with a new one: $20K for 5% common stock plus $200K on an uncapped MFN SAFE, for $220K in total ($100K on the SAFE for Asia-Pacific programs). There's no fee, and a side letter adds pro-rata rights.^[4] The new terms were $100K more than the previous deal.^[5]

What it costs: 5% plus however much the $200K converts to at your next round.

South Park Commons: 7% + a Next-Round Commitment

SPC's Founder Fellowship invests $400K for 7% upfront on a SAFE, and commits $600K to your next external round, for $1M total.^[6]

Antler: 10% + an Uncapped SAFE

Antler's Disrupt deal, published in January 2026, is $250K for 10% plus $150K on an uncapped MFN SAFE, with no fee and no board seat. Antler's example: at a $10M cap, the $150K converts to 1.5%.^[7] Antler's terms vary by country, so check the program you're applying to.

Entrepreneurs First: 8% + an Optional SAFE

In the US, EF invests $125K on a post-money SAFE for 8%. An additional $125K uncapped MFN SAFE is available if you relocate to San Francisco and incorporate in Delaware.^[8]

PearX: Bigger Checks, ~7% Ownership

PearX invests $500K to $2M and targets 7% ownership in most companies.^[9] Because the check size varies while the target ownership doesn't, the implied valuation depends on how much you raise.

Neo: No Fixed Stake

Neo's 2026 residency deal is the most founder-friendly on paper: $750K on an uncapped SAFE with no fixed equity upfront. Neo's ownership depends entirely on your next round. TechCrunch reported it at about 5% if you raise at $15M, and about 0.75% at $100M.^[10]

Programs With Less Clear Terms

• 500 Global's flagship page now describes up to $50K upfront with potential for up to $1M more, and lists a program fee. It doesn't state an equity percentage.^[11] The "$150K for 6%" deal you'll see quoted online comes from older terms.
• Alchemist lists checks from $60K to $1M without publishing a standard equity percentage.^[12]

The Bottom Line

Accelerators usually take 5–10% for their fixed check. The trend in 2025–2026 has been bigger total checks, with more of the money on uncapped SAFEs that convert at your next valuation. For a strong team, that's a good trade: the cost is lower if your company does well.

If you're applying to several programs, you can afford to be picky about terms. XRaze helps you apply to more programs with less effort, so you're more likely to have several offers to choose from.