What is a cap table?
A capitalization table, or cap table, is a record of who owns what in a company. It lists every shareholder, the number and class of shares they hold, the percentage of the company they own, and how that ownership changes over time as the company raises capital, issues options, or buys back shares.
Who this is for and when to use it
African founders raising pre-seed through Series A, co-founders agreeing on equity splits, operators issuing options to employees, and CFOs preparing for diligence. Set up your cap table the moment you incorporate. Update it after every share issuance, option grant, and funding round, and reference it before any term sheet conversation.
What is inside
A written guide that explains share classes, option pools, pre-money versus post-money valuations, dilution, and the mechanics of a SAFE versus a priced round, plus an editable spreadsheet structured to track multiple rounds and produce a clean view for investors. Pair with The Cap Table Guide for the full narrative explanation.
Key concepts you will learn
Common shares versus preferred shares, the option pool and pre-money option pool shuffle, fully diluted ownership, pre-money and post-money valuation, dilution math, anti-dilution provisions, liquidation preferences, the difference between SAFEs and convertible notes, and how a Series A round changes your cap table.