Template · spreadsheet template

Cap Table and Exit Waterfall Modeling Tool (Foresight)

Foresight (Taylor Davidson) · Foresight Freemium Intermediate

This is the spreadsheet to actually model your cap table forward three rounds before you sign the first term sheet. It adds priced rounds, converts SAFEs and notes, issues option pools, runs pro rata, and computes the exit waterfall with liquidation preferences, so you see where founders land under real terms, not a napkin percentage. It is pay-what-you-want (0 dollars accepted, 20 dollar suggested), rated 4.9 across hundreds of founders, so there is no reason to sign a round blind.

  • Model multiple future rounds, SAFE/note conversions, and option pool top-ups in one sheet to see cumulative founder dilution
  • Includes an exit waterfall so you see how liquidation preferences change who actually gets paid, not just the ownership split
  • Pay-what-you-want (zero accepted), so cost is never the excuse for signing without a forward model
Open on foresight.is ↗

The question it answers

  1. How much of my company should I still own after seed, Series A, and beyond?

Read with it

  1. This is the cleanest statement of the per-round rule of thumb backed by Carta's data across 1,200+ rounds: roughly 20 percent... SaaStr Article · 6 min read Carta: The Actual, Real Dilution from Series A, B, C and D Rounds Jason Lemkin
  2. Written by EquityList, the India-based cap table platform, so it speaks to founders managing ESOP pools and dematerialised... EquityList Article · 12 min read Founder Ownership by Round: How Equity Dilution Really Works EquityList
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