-100%

est. 2Y upside i

Rank

#4215

Sector

Non-Profit / Policy Advocacy

Data Quality

Data: High

Do NOT evaluate this as a traditional equity opportunity. notoptional.eu is a policy advocacy campaign funded by Index Ventures — it has no revenue, no commercial valuation, no funding rounds, and no established path to a liquidity event.

Last updated: May 4, 2026

Bull (5%)0%

In the most optimistic scenario, Not Optional transitions into a formalized non-profit or for-profit entity with a product offering (e.g., ESOP tooling like its OptionPlan Seed app), but even then equity value creation would be speculative and years away. No credible path to a liquidity event currently exists.

Base (70%)-100%

The organization remains an advocacy campaign with no equity to distribute; any 'equity offer' would likely be worthless or non-existent in a legal sense. Employees receive a salary but no meaningful equity upside.

Bear (25%)-100%

The campaign winds down as European stock option policy matures and Index Ventures withdraws sponsorship, leaving employees without salary continuity or equity value. No exit path exists for common shareholders.

Preference Stack Risk

severe

Funding Intensity

0%

There is no known capitalization table, no formal funding rounds, and no equity instrument structure — the preference stack risk is undefined and therefore treated as severe.

Dilution Risk

high

Without a formal cap table or corporate structure, any equity granted could be subject to unlimited dilution or may not be legally enforceable.

Secondary Liquidity

none

There is no secondary market for shares in this organization, and no known equity has ever been transacted.

Other — 1 role

View all 1 open roles at Companies →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Companies's data — designed to show you've done your homework.

  • 1

    “Is this organization incorporated as a legal entity, and if so, what type (non-profit, Ltd, etc.) and in which jurisdiction?”

  • 2

    “Has Index Ventures committed to any commercialization of the OptionPlan tools or other spin-out plans that would create employee equity value?”

  • 3

    “What does the 'equity offer' actually consist of — are these shares in a legal entity, phantom equity, or an Index Ventures fund vehicle?”

Community

Valuation Sentiment

Our model estimates -100% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.