Feld Thoughts
SEPTEMBER 2, 2011
As Finance Fridays continues, we are introducing the concept of the Cap Table. This week they set out to create their cap table and hire a CTO. Rather, it gets recorded in a document called the Capitalization Table (or “Cap Table”), which shows the ownership stake each person or entity has in the business.
OnlyOnce
DECEMBER 1, 2021
As startups scale, they are likely to hire a more senior accountant, maybe an AR/AP/Collections staff member, or even a Controller or VP Finance. Another telltale sign that you might need a CFO is more tangible: Are you spending too much of your own time managing fundraising, debt, investors, and cap table questions and issues?
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Feld Thoughts
FEBRUARY 9, 2016
” Many companies have hired ahead of their growth rate because they had the cash to do so. “If you need to clean up your own cap table first – while very hard to do – it will make outside funding easier” Again, go read the post now – I’ll wait. It’s simply not true. Or you might need to raise it.
ithacaVC
DECEMBER 13, 2013
When raising money from investors (angels or VC), it is critical to have a presentable and clean cap table. On a fully diluted pre-money basis, that would mean the option pool represents 14.5% (356,758/2,456,758) of the cap table. Often times a plug is used around 10%. times more equity than Founder X.
Up and Running
JULY 2, 2014
We had personally invested $70,000 of our own money at this point, and we were hoping to raise at least another $250,000 to help us hire a team, launch our company, and begin to build our product. This should be clearly spelled out in your Capitalization Table , or “Cap Table” as it’s commonly called.
View from Seed
SEPTEMBER 23, 2019
To provide relevant perspective, listing past convertible note(s) and/or equity financing(s) including total round size and valuation (caps) is helpful. Previous venture firms’ specific involvement on the cap table should be noted here, though. First, it’s helpful to enumerate the startup’s funding history to date.
VC Adventure
AUGUST 15, 2018
It was a benefit to employees and a slight value transfer from equity holders to option holders (generally speaking in M&A transactions the value of the aggregate option exercise ends up allocated across the rest of the cap table). Similarly I assumed that later stage companies would also show a smaller gap. I was wrong.
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