Yes.
Cap Table Template
Free
Learn how to read a cap table and manage it with a free cap table Excel template to manage and track the capitalisation of your company. Manage your convertible note, seed round and series-a as well as ESOP option pool with this Excel calculator
- Lawyer quality
- Note, Seed, Series-A
- Excel Template
- Free
2900
happy users
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What
What Is a Cap Table?
- It is an Excel spreadsheet that shows the pro forma ownership of your startup in a ledger at different periods of time.
- It is a list of the shareholders and how much each person owns.
- It tells you how much money you will make if you exit, which is what I am sure you want to know!
Who owns what’s in your startup?
If you are bootstrapped and making it work. Dude, hats off! You rock! You don’t need to really care about your ownership structure.
But… If you are like 99% of founders today who are building or hoping to build a VC investor funded startup, then I’m sorry!
Your cap table matters and this is why I am here, to show you how to create an ultimate startup cap table example and return analysis template
If you don’t care, that’s fine. But the moment you start talking to investors you will very quickly realize that the only thing investors care about is how much they own. They know that from your cap table.
Huh
I Still Don’t Get it… Explain More!
Think of it this way, when you start out as a founder you own 100% of the company, right? Well, you raise a Seed round and now investors have a chunk. How do you know who owns what? The cap table tells you.
Furthermore, by having one properly set up, you can truly understand what you own in different scenarios, even after all sorts of complex things like the effects of liquidation preferences, discounts on convertible debt, and the option pool shuffle happens. More importantly, it helps you to not confuse ‘basic’ stuff like your ownership being based on post-money valuations and not pre-money.
A cap table is something that every startup needs, but something no one really knows how to do. Furthermore, there is an implied expectation that founders have one and know how to do them.
As an investor, you might say to a founder “Send me your cap table over this evening will you?”, with the founder saying “Sure!” only to go back to the office and say to their co-founder, “what the hell is a cap table?”
There is actually a pretty hilarious episode of the TV series ‘Silicon Valley’ entitled “The Cap Table” that goes exactly as above. Sensing the ignorance of the startup, Peter Gregory (the VC), goes into shock, exclaiming to his Associate, Monica, “What did I buy?”
He then goes on to demand a cap table and business plan from Richard (the protagonist of the series).
Richard doesn’t know what it is and goes to Wikipedia to find out.
If you stare at an investor with a pale, blank face when questioned ‘what does your cap table look like?’ you can be pretty sure that what comes next will not be super auspicious.
FML. Cap table calculations.
Trust me, I know.
A couple of years ago I was just like you. I didn’t know anything about cap tables. Well, I knew something about them, just not much. I saw some super simple venture hacks model and their video, but frankly, that’s so ghetto simple. It seems like you know it all… but you really don’t.
Whether you want to do some basic stuff, or are a dap hand and know all the stuff most don’t know they don’t know… you can do it now.
who
Who Needs a Cap Table?
Everyone in startup-related land needs to know about this topic. So whether you are a founder, investor or advisor, why not have a little play with this!
Details
What Does the Tool Look Like?
Here are a few images to have a little gander at for your viewing pleasure.
Need
Why Do You Need a Cap Table?
-
1
You Are Raising Money
- If you raise money, then investors need to know who owns what, and you need to know too!
- The entire game is fabricated on you raising funds and giving it away in exchange
- You need to keep on top of each time you raise money
-
2
Investors Will Ask For One
- You are about getting an exit, but it’s the only thing investors care about as it’s their business model
- Before an investor will invest, they need to see your cap table (there is no hiding, ever)
- Either you do it, or a lawyer does
-
3
Know How Much You Own
- The cap table tells you how much of the company you own
- It tells staff what their options might be worth
features
What Can the Model Do?
These are some of the features in the model.
Track Shareholders
Let’s cover the basics
- Up to 100 shareholders
- Dashboard
Funding Rounds
See what happens round by round
- Seed and series-A
- Convertible notes
- ESOP
Technical Details
Packs a punch
- 3 convertible note methods
- Set ESOP size
- Vesting schedule
- Accelerated vesting
Need
Why Is My Tool Worth Getting
-
1
I Make Cool Things (and am capable)
- There is a lot of blah around by people who aren’t terribly good at Excel/PowerPoint etc
- You’ll see the attention to detail and actual thought put into what I gift you (so you aren’t wasting your time)
-
2
My Free Tools Are Better Than What Some Charge For
- I only made tools because I couldn’t find anything I would use myself
- Even if you don’t ‘actually need the tool’, the point is to teach you concepts you can apply
-
3
I Don’t Have a Hardcore Marketing Funnel
- I make tools to actually help founders
- You aren’t going to be hounded with emails to get you to buy things
- Whilst I do sell some stuff, seeing the quality I give for free is way better marketing than using fancy words to convince you
video time
Watch a Video On the Tool
Check out the high-level overview now.
Yes, I’m a full-on caveman, zero-f given, just get the video done mode.
video time
Live Example of Filling in Cap Table
Here is me thinking out loud and filling out a cap table for an imaginary startup, taking you step by step.
issue avoidance
Why Won’t the Price Per Share Calculate?
I’m going to stick this video in with the others to save my sanity.
I’m sick of people asking… if you see an iteration error, or the px per share doesn’t change, you don’t have iterative calculations turned on.
And yes, the model needs an iteration for nerds who think they know better.
read more
Read the Full Blog
This is a pretty page I have made so downloading tools is cleaner and simpler for you. Guide on the sheets etc is on the blog, so read it if you download the sheet please.
Actually, the old blog is a disaster. I need to redo it totally…
Professional Cap Table Model
The most detailed Excel model to to track financing rounds that you can buy on the internet so you know who owns what of your company. The tool is also great for lawyers to manage clients as it has the functionality to track all the complex changes you need to make and be auditable.
Learn moreESOP Dilution Calculator Tool
Learn more
ESOP Model
You can't afford top talent with just cash, so you need to incentivise them with options. What the heck does a structure look like? This is literally the only ESOP model on the internet! You will decide on a fixed structure and you will be able to apply it to every hire so every evergreen, promotion, and performance grants are defendable to keep everyone on board that you are always fair.
Learn moreESOP Terms Cheat Sheet Tool
Learn moreAccess
Get the Cap Table tool For Free
Fill in your details and it will be emailed to you.
I’m not sketchy, so here is everything you need to know just in case!
- It is automatically emailed to you!
- I’ll send you some emails about startup/investing after
- You can unsubscribe whenever you want
- Your data is never sold! I’m not organised to even do that lol
- You agree to all T&C legal stuff (to cover my ass)
FAQs
Check the FAQs if you are having issues. Don’t message me if “I can’t download the file”.
Is this free?
How do I download?
Fill in your name and email in the submission form and it will be emailed to you.
I didn't receive the email?
My (automated) system works. You’ve made a basic mistake.
- Check you input your email accurately
- Check your spam folder (Whitelist me if you found the email in spam)
Can I get consulting to use the file?
Yes. You can book a consulting call here:
I have feedback to improve
How do I open the file?
When you press download in an email from me, it normally saves to your Downloads folder.
So go there first to find the file.
I normally have to ZIP the file so it will work with SaaS automation systems.
So get WinZip, WinRAR, or use whatever Mac/PC offers these days. Unzip the file (Right click and press “uncompress” etc). If you don’t know how to do this, then use Google.
Once you uncompress, the ZIP file will remain, and you will see a new file (sort the download folder by date modified if confused).
I assure you that everything I provide works, so if you can’t access it, it’s a ‘you’ problem.
Can I sell / share your tools?
No.
You can share a link to this page, which would be much appreciated!
Can I share your tools on social media?
Please share the link to this page. It would be super-appreciated, but only if you like it!
If you don’t like it, then leave a comment or shoot me an email first so I can take your feedback on board first and see if I can improve!
Reading
Looking For Some Recommended Reading?
Here are some blogs you can check out related to this topic:
