以前、資本政策について紹介しました。 また前回は、その過程で必然的に起こる株式の希薄化について紹介しました。 今回は、その資本政策を具体的に表現する際に使われる「キャップテーブル」について紹介します。 (1) 資本政策の実務 前の記事でも ...

Cap Table とは？ Cap Table（Capitalization Table）は株主構造を整理した表である。 株主のみならず持分、株式の種類（普通株式・優先株式など）に加えて転換権の有無やディール前後の希薄化影響を詳細に示すものであり、資金調達をする会社にとっては必須のコミュニケーションツールである。 特に ...

A cap table (short for capitalization table) is a document (spreadsheet or table) that provides an analysis of a company’s ownership percentage and value of equity in each round of investment by ...

Businesses, especially growing startup companies, need to create and maintain a record of entities that have a stake in the company. Hence, a capitalization table is created in the early stages of a ...

Ask any entrepreneur out there and they will tell you that at some point, it was their goal to have complete ownership of their business. In fact, some of them may even have had that experience but ...

Before a company raises its first round of financing, it’s crucial that the founding team understands how an equity round will impact the company’s capitalization table (“cap table”) and the founders’ ...

Founders start a company because they have an idea they want to bring to market. As their company gains traction and matures, the way in which they manage their business needs to evolve to enable ...