Picking between Hemrock fund tools (hosted or spreadsheet)

The Fund Economics Tool is available in the browser and as a spreadsheet for Excel or Google Sheets. Choose by workflow and supported inputs; the surfaces do not promise identical feature coverage. The API and MCP use the released browser calculation engine, not unreleased advanced features.

Why choose the hosted version

• You want to share with someone a polished model: read-only links, private links with access codes, email-share from the tool, sending a polished presentation view of the model rather than the raw spreadsheet.
• You want to edit live with a collaborator when both owner and invited editor have eligible product access.
• You want auto-save and multiple saved models without managing files.

Why choose the spreadsheet version

• You want to integrate with other spreadsheets (link to a master forecast, drop into a deck).
• You want full control of the formulas: every cell open and editable.
• You want to work offline.

Additionally, the full Venture Capital Model offers a more detailed forecast of cash flows not included in the Fund Economics Tool:

• You need quarterly cash flows over fund life: J-curve, capital calls, distributions per quarter.
• You need fund financial statements: Statement of Operations, Balance Sheet, Cash Flows.
• You need a management company P&L.
• You want a multi-stage graduation chain (% of companies that proceed Seed → A → B → C with explicit dilution and post-money per round).

Use both

Build the fund-economics shape on the hosted version, share read-only with LPs early, then switch to the spreadsheet comprehensive model once you need quarterly forecast and statements for the data room.

Pricing summary

Surface	Price
Browser calculations and personal editing	Free; account required to save
Hosted, read-only share links	No paid access required for recipients
Hosted collaboration	Included when owner and invited editor each have qualifying product access
Fund Economics API/MCP	$20/year for 6,000 successful calculations per account
Cap Table & Exit Waterfall API/MCP	Separate $20/year product; 6,000 successful calculations shared across both engines
Spreadsheet, Fund Economics Tool	Pay What You Want
Spreadsheet, Venture Capital Model	$349

Compute allowances are shared across API keys and MCP connections, with no rollover or automatic overage charges. Hemrock Anywhere compares the surfaces; Developer access handles signup, checkout, API keys, OAuth connections, and usage. See Collaboration for qualifying access.

Ownership and AI guidance

• The spreadsheet AI guidance: the prompt guide, context primer, MCP reference tools, and skill bundle help you edit spreadsheet files. Hosted compute uses the API/MCP schema, not spreadsheet cell edits.
• The model ownership: downloaded spreadsheets remain yours to edit. Annual API and MCP compute access is a separate product.