Equity & Investment Cap Table Model Template
Originally published: 13/04/2017 09:20
Publication number: ELQ-25978-1
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Equity & Investment Cap Table Model Template

An Excel spreadsheet to model out cap table equity and dilution through your financing rounds

As a startup founder, it is often difficult to understand how your equity ownership stake evolves as you raise capital across multiple financing rounds - with progressive dilution from the arrival of new investors and the emission of employee options.

As when thinking about a startup, I try to see how I can share my modeling tools, you will find here an excel spreadsheet which enables you to model out cap table equity and dilution according to your different capital raising rounds.

To do this you can also use this cool tool available online ownyourventure.com, but personally I prefer to user Excel as it allows me to integrate and model the particularities of a given situation.

Like in all my models, the inputs are in blue and can be customized according to your situation.

While, the equity model has as outputs at the bottom of the table several exit multiples, it does not integrate any special treatment for investor shares such as participating preferred, etc. However, I did include an extra tool in the second tab in the spreadsheet. It is an exercise for a training session I did on VC structures quite some time ago. If you (unfortunately) have to consider liquidation and participation preferences it shows their results and effect on investor returns.

I hope this equity & investment cap table template in Excel will be useful for you. If you spot a bug (I hope not - as I have tried to make it error-free), feel free to let me know in the discussion feed below. Also, happy to have your feedback!

- Giff Constable

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