Your cap table isn't a spreadsheet. It's your startup's economic architecture.
Vefy helps you understand who owns what, how each part dilutes and what happens when new investors, SAFEs, option pools or SPV vehicles come in.
Organize your company's ownership before raising capital. Model future scenarios. Show a clear structure when an investor asks about your cap table.
- Founders72%
- Option pool16%
- Investors / SAFEs12%
- New investor0%
Most founders discover their dilution too late.
A round doesn't just add capital. It also changes rights, percentages, incentives and future expectations.
The problem appears when the cap table lives in an outdated spreadsheet, the SAFEs are scattered across PDFs, the option pool isn't modeled and no one can clearly explain what happens after the next round.
Percentages that don't add up
Authorized shares, issued shares and fully diluted ownership are not the same. When those concepts get mixed up, real ownership becomes confusing.
Scattered SAFEs
Each SAFE has terms, dates, amounts and conversion conditions. If they're not integrated into the cap table, future dilution stays invisible.
Misunderstood option pools
Equity for employees, advisors and future hires directly impacts founders and investors. Modeling it poorly distorts any scenario.
Rounds without a pro forma
Before negotiating, the founder needs to see the post-money, the new investor's entry, instrument conversion and the resulting dilution.
The cap table is a negotiation tool, not an administrative file.
An organized cap table lets you make better decisions before signing. It helps you understand how much ownership the team keeps, how much room there is for talent, the impact of SAFEs and how the company will look to the next investor.
Vefy turns that information into an operational layer connected to fundraising: SAFE, SPV, dataroom and documentation, within the same system.
A single source of truth for your company's ownership.
Current cap table
Visualize founders, employees, advisors, investors, option pool and current holdings in a clear structure.
Fully diluted ownership
Separate issued shares, granted options, available pool, convertible SAFEs and other commitments to understand the full picture.
SAFE integration
Connect each signed SAFE with its amount, valuation cap, discount, MFN or other terms to project its conversion.
Dilution modeling
Simulate how founders', employees' and investors' ownership changes with new rounds, pool expansions or conversions.
Pro forma rounds
Prepare a future version of the cap table before closing: pre-money, new money, price per share, option pool and post-money ownership.
SPV impact
Model how the cap table looks when multiple investors come in grouped into a single vehicle instead of individual lines.
Fundraising without a clear cap table is fundraising with information debt.
Investors don't only look at the product, the market or the team. They also look at the structure.
An organized cap table shows whether the team is still incentivized, whether there are too many direct investors, whether the option pool makes sense and whether convertible instruments could create future dilution that's hard to explain.
The sooner ownership is organized, the less friction appears later: in due diligence, in new rounds, in talent grants, in SPVs and in future negotiations.
From a static structure to a decision tool.
Load the initial structure
Founders, issued shares, option pool, grants, investors and existing commitments.
Separate the right denominators
Authorized shares, issued and outstanding and fully diluted don't get mixed. Each serves a different function.
Add convertible instruments
Add SAFEs and convertible notes when applicable, with terms that let you project their future impact.
Model the next round
Test scenarios of valuation, investment, option pool and conversion before negotiating or signing.
Connect the documentation
Relate the cap table to signed SAFEs, dataroom and relevant round documents.
For founders who need to raise capital without losing economic clarity.
Before issuing a SAFE
Understand what accepting a new ticket implies and how it could convert in a future round.
Before negotiating a round
Prepare different scenarios of pre-money, new money, option pool and post-money ownership.
Before opening an SPV
Compare the impact of receiving many direct investors versus grouping them into a single line.
Before hiring key talent
Visualize how much is available in the option pool and what expansion may be needed.
Before sharing with investors
Show a more serious, legible structure connected to the fundraising documentation.
Before scaling the company
Reduce structural errors that later become expensive, slow or hard to fix.
Current ownership and fully diluted ownership don't tell the same story.
Shows the shares actually issued and the current holders. It's the legal-operational snapshot of the present.
Includes the economic impact of options, reserved pools, convertible SAFEs and other instruments that could turn into equity.
Vefy separates these layers so the founder can explain what exists today and project what may happen tomorrow without confusing the two.
A SAFE doesn't always appear as a share today. But it can change ownership tomorrow.
SAFEs usually represent contractual rights to receive equity in the future. So they shouldn't be confused with issued shares, but they can't be left out of dilution scenarios either.
Vefy lets you treat them as living instruments: connected to an investor, a round, its terms and a possible conversion event.
Post-money valuation cap
Model SAFEs where the expected economic ownership is calculated against a post-money valuation cap.
Discount
Project conversions where the investor receives a preferential price relative to the next round.
Cap + discount
Compare both mechanisms when applicable and see which generates more shares for the investor.
MFN
Record SAFEs with most-favored-nation clauses, making clear when the model depends on future terms.
More investors shouldn't mean more noise in the cap table.
When a startup receives many direct investors, each one becomes a line, a relationship, a signature and a possible source of future coordination.
With an SPV, those investors can be grouped into a vehicle that appears as a single line to the company. The cap table stays cleaner and the LPs' economic relationship is organized inside the vehicle.
More investors. One vehicle.
Cap Table Management is part of the Fundraising Readiness Package.
The cap table doesn't live in isolation. It becomes more useful when connected to the documents and processes that move the round.
SAFE
Generation, signing and management of early-investment agreements.
Cap Table
Ownership tracking, dilution scenarios, SAFE integration and modeling of future rounds.
Dataroom
Centralized documents for fundraising, due diligence and investor information.
SAFE standalone is free. SAFE + Cap Table Management + Dataroom is available as a fundraising readiness package.
- Ownership tracking
- Current cap table visualization
- Future scenario modeling
- Dilution simulation
- SAFE integration
- SAFE conversion modeling where supported
- SPV impact modeling where supported
- A single source of truth for founders, team and relevant investors
- It doesn't resolve legal ownership disputes
- It doesn't replace specific legal, tax, financial or accounting advice
- It doesn't guarantee that records imported from third parties are correct
- It doesn't negotiate terms with investors
- It doesn't perform full financial modeling beyond cap table scenarios
- It doesn't guarantee investor acceptance or fundraising outcomes
Designed for startups that want to reach the round with structure.
Pre-seed founders
Teams about to issue their first SAFEs who need to understand how the company will look afterward.
Seed startups
Companies with several investors, an option pool and a need to prepare pro formas for an institutional round.
Teams with many tickets
Startups evaluating grouping investors through an SPV to keep a cleaner structure.
LATAM founders with US structure
Cross-border teams that need to speak the language funds, angels and international investors understand.
Software where legal-operational judgment is already built in.
The cap table requires precision. Adding up percentages in a spreadsheet isn't enough.
Vefy works with infrastructure logic: clear denominators, separated scenarios, connected instruments and traceable documentation. When a structure falls outside the standard, it may require specific review before moving forward.
The platform simplifies the experience. It doesn't trivialize the structure.
Reach your next investor conversation knowing exactly what you're negotiating.
Build a clear cap table. Integrate your SAFEs. Model your next round. Get your startup ready to raise capital with more order.