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How to Build a Startup Cap Table: Excel Template
I couldn’t find a good cap table template, so I built my own.
All start-ups talk equity; It doesn’t matter where – bars, cafés, or even at a lawyer’s office as he holds a brand new operating agreement. It is common for entrepreneurs to debate and obsess about equity, but ultimately it’s for a good reason.
Ownership depicts who takes decisions in an enterprise and who earns the biggest share when an acquisition occurs. A great product can eventually be worth a pretty penny, perhaps TRILLIONS of them, and in time the aim is to accumulate enough of those pennies to prove the risks we’ve taken today to bring those products to the market.
Cap tables are key, yet they are greatly misunderstood.
A small number of entrepreneurs truly comprehend the drivers and the consequences of how equity can change with time. Ownership can shift, convert, become diluted and vest in unexpected ways as startups raise the necessary capital from investors and employees become hired or even fired. These are all the events that do take place after all documents have been signed- and indeed, it can be a tricky situation to be in.
For that reason, understanding the math of venture funding can be greatly complicated for a newly founded company. But an instructive tool to use in these scenarios is a cap table. The capitalization table can help founders predict and prepare for the changes that will take place as funding happens and the ownership and control structure change.
Lately I’ve been helping companies build financial models before raising capital on their demo days at Techstarts NYC. These conversations naturally become related to equity, valuation, dilution and other fundraising strategies such as using convertible debt. As I got curious about the task at hand, I searched the interned for comprehensive cap tables and couldn’t manage to find one. So I decided to make one of my own and offer that template, without a cost, to anyone on the net who had asked themselves the same nerdy questions.
Hence, below you will find the best startup cap table on the internet – imho
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- MD12(last updated: 24/09/2020 02:37)
- James Wilson(last updated: 04/07/2020 17:33)
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- Steve Vannatta(last updated: 08/08/2018 16:59)
- Maggie Norris(last updated: 28/06/2018 04:21)
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