Startup Cap Table Example — Seed-Stage SaaS Post-Raise
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Document: Startup Cap Table
Example Document
Last updated 6/4/2026
Startup Cap Table — Seed-Stage SaaS Post-Raise
Company: Northwind Analytics, Inc. As of: 1 April 2026 Prepared by: J. Okafor, CEO Basis: Fully-diluted (includes the full option pool; the pre-seed SAFE has converted in this round)
1. Shareholders & equity holders
| Holder | Security type | Shares | Fully-diluted % |
|---|---|---|---|
| Jordan Okafor (co-founder, CEO) | Common stock | 3,600,000 | 36.0% |
| Priya Shah (co-founder, CTO) | Common stock | 3,600,000 | 36.0% |
| Greenfield Angels (angel) | Preferred (SAFE-as-converted) | 520,000 | 5.2% |
| M. Alvarez (angel) | Preferred (SAFE-as-converted) | 280,000 | 2.8% |
| Harbor Ventures (lead investor) | Seed preferred | 1,500,000 | 15.0% |
| Option pool (ESOP) | Reserved options | 500,000 | 5.0% |
| Total (fully diluted) | 10,000,000 | 100% |
2. Option pool detail
| Grant | Holder | Shares | Status |
|---|---|---|---|
| Eng-1 | First engineer | 150,000 | Vesting (4yr, 1yr cliff) |
| Advisor-1 | Go-to-market advisor | 50,000 | Granted |
| Unallocated | — | 300,000 | Reserved for future hires |
| Pool total | 500,000 |
3. Convertibles — pre-conversion
The two pre-seed SAFEs (520,000 and 280,000 shares above) converted into seed preferred as part of this round, so no convertibles remain outstanding. Future SAFEs or notes would be listed here.
| Instrument | Holder | Amount invested | Valuation cap | Discount | Status |
|---|---|---|---|---|---|
| Pre-seed SAFE | Greenfield Angels | $130,000 | $5,000,000 | 20% | Converted (this round) |
| Pre-seed SAFE | M. Alvarez | $70,000 | $5,000,000 | 20% | Converted (this round) |
4. Round terms (Seed)
- Round: Seed (priced)
- Amount raised (new cash): $1,500,000 from Harbor Ventures
- Pre-money valuation: $8,500,000
- Post-money valuation: $10,000,000
- Price per share: $1.00 (post-money / 10,000,000 fully-diluted shares)
- New shares issued to lead: 1,500,000 seed preferred (15.0%)
- Option pool: topped up to 5.0% of post-money, created pre-money (founders absorbed the dilution)
5. Notes & assumptions
- All percentages are fully-diluted, including the entire 500,000-share option pool.
- The two pre-seed SAFEs converted in this round; together they account for 8.0% post-raise, reflecting their $5,000,000 cap against the higher priced-round valuation.
- Founders each diluted from 50.0% (pre-seed) to 36.0% post-seed — a deliberate trade for $1.5M of growth capital plus the angel and lead investor on the team.
- The board is two founders + one Harbor Ventures seat; standard seed liquidation preference (1x, non-participating) applies to all preferred.
Notes
All names, share counts, and valuations are illustrative and chosen so the fully-diluted column sums to 100%; this is educational and not legal, tax, or financial advice.
About this Example
Part of the Startup Cap Table document collection
Document Type
Startup Cap Table
A capitalization table tracking who owns what: shares, options, and ownership across founders and investors.