Cap Table (Capitalisation Table)
What is a Cap Table? Capitalisation Table Explained
A cap table (capitalisation table) is a record of all ownership stakes in a company: founders, investors, ESOP holders, and anyone else with equity. It tracks shares outstanding, ownership percentages, dilution across funding rounds, and the value of each stake.
Maintaining an accurate cap table is critical during fundraising, M&A, ESOP administration, and financial reporting. A cap table error discovered during due diligence can delay or kill a fundraise.
Early-stage companies manage cap tables in spreadsheets. This works until multiple funding rounds, share classes, and ESOP pools make spreadsheet management error-prone. Modern equity platforms automate cap table maintenance and scenario planning.