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Cap table template

The short answer

A cap table template in Excel with live formulas: holders and ownership, SAFE conversion, a priced round and an exit waterfall. Change a share count and every percentage follows.
  • Four sheets, all linked, no macros
  • Post-money SAFE conversion done properly
  • The same workbook style our customers export
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Recommended by YC founders · Unlimited stakeholders on every plan · AI account manager, 24/7 · 14-day free trial, no card

See it before you download it

Preview of the cap table template, marked SAMPLE
The Ownership sheet, one of five. Every blue cell is an input and every black cell a live formula. The download has no watermark.

What you get

Excel workbook (.xlsx), 4 sheets, live formulas, no macros
  • Ownershipevery holder, their securities, fully diluted percentage and capital in
  • SAFEseach SAFE's cap, discount, the ownership it takes and the shares it becomes
  • Priced roundconvert the SAFEs, then price the new money and see the share count
  • Waterfallwhat the preferred and the common receive at five exit values

Get the template

The workbook arrives by email, and you can download it here straight away.

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How to use it

Blue cells are yours to type over. Black cells are formulas.

Replace the example holders

Five example rows show the shape: two founders, an employee, an advisor and a seed investor. Overwrite them with your own and the percentages recalculate.

Enter your SAFEs as written

Amount, valuation cap, discount, and whether the cap is pre-money or post-money. Those four fields decide the conversion; everything else follows.

Price the round last

The price per share comes from the pre-money divided by the share count after the SAFEs convert and the pool is topped up, in that order.

Keep one file

The most common cause of a wrong cap table is three versions of the spreadsheet. Pick one, date it, and put it where your co-founder can find it.

What a spreadsheet cannot do

Worth knowing before you rely on it for a financing.

It does not know what was signed

A grant the board approved but nobody signed is not a grant. A spreadsheet cannot tell the difference; a ledger with the documents attached can.

It does not track vesting to today

Vested versus unvested changes every day, and it is the number employees ask about.

It does not produce the filings

83(b), Form 3921, Rule 701 and ASC 718 all come off the same records, and all of them have deadlines.

It cannot be shown to a holder safely

Sending the workbook shows everyone everyone else's position. A portal shows each person only their own.

Questions

Is the cap table template really free?+

Yes. Give a work email and the workbook arrives by email, with a download link on the page as well. It is free, with no card.

Does it handle post-money SAFEs?+

Yes. Each SAFE takes its amount divided by its valuation cap, measured before the new money, which is the standard post-money convention. Pre-money SAFEs are priced off the pre-money share count instead.

Can I use it in Google Sheets?+

Yes. Upload the .xlsx to Google Drive and open it with Sheets. The formulas convert; the print setup and some of the formatting do not.

What is the difference between this and cap table software?+

The workbook is correct on the day you fill it in. Software keeps the same numbers correct afterwards: grants and their signatures, vesting to today, SAFEs and their terms, the 409A, the filings, and a portal for every holder.

Keep reading

Keep it right after the download

Import what you have and Capable reconciles it against your own file before anything is saved. 14-day free trial, no card, unlimited stakeholders.

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