Welcome to CapStack GP
This sample company is fictional. A Series A cap table is loaded. Click ▶ Run Model for a waterfall, cap table, and fund MOIC. Use Reset for a blank company.
Cap table, exit waterfall, and fund MOIC
A browser model for venture GPs. No account. The model runs on this machine. This sample company is fictional.
Choose Run Model for the loaded Series A sample. Use Reset for a blank company. Shared funds, shared models, and invites are a separate firm workspace.
The link stores this model in the URL fragment. The fragment is not sent to the server. Anyone with the link can read the model. A model that does not fit is left for Export JSON.
Model Assumptions
47 discrete assumptions across 6 domains. Expand any domain to review or override.
⚠
Assumptions with silent defaults produce wrong outputs in edge cases. Review each domain before running the model against live data.
Company & Fund Parameters
Core inputs that anchor the model.
Company
Fund Parameters
Capital Structure
Add shareholders, financing rounds, and convertible instruments.
Shareholders & Security Holders
👤
Click "+ Add" to add founders, investors, and employees.Financing Rounds
💵
Add financing rounds to model dilution.Convertible Instruments
📄
Add SAFEs or convertible notes.Exit Scenarios
Define acquisition prices and structural terms.
Global Exit Parameters
Rule of 40 / Rule of X Scenario Planner
ⓘARR growth % + profit margin % (EBITDA, or FCF for mature assets) ≥ 40 earns the premium EV/Revenue band. Exit value = current ARR compounded at each profile's growth to exit, times the band midpoint. Rule of X (growth × multiplier + FCF margin) weights growth more heavily; it ranks profiles but does not set the band, since it has no published cutoff. Quick single-company calculator.
Scenarios
Cap Table
Ownership derived from share counts. Percentages are computed, never stored.
📊
Add shareholders and run the model.Exit Waterfall
Sequential allocation across the full exit price range. Kink points mark preferred conversion thresholds.
Shared funds, shared models, and invites are a separate firm workspace.
⛰
Add shareholders and exit scenarios, then run the model.Ownership Decay
Investor ownership from entry through each dilutive round. Pro-rata toggle shows cost of not following on. A written claim entered below is a separate record.
📉
Add investor shareholders and financing rounds.Deal MOIC proxy
Investor-holder proceeds on this company divided by the fund’s marked invested capital. Not a full-fund MOIC. Carry and fee figures are estimates on that single deal.
Shared funds, shared models, and invites are a separate firm workspace.
💰
Configure fund parameters and run the model.VC & Cap Table Glossary
Plain English definitions with technical depth for practitioners.
AI Research Prompts
Prompts to copy into an AI assistant with your model outputs.
A digest of numbers already in this model (preference, waterfall, MOIC, flags). It is not an LLM and nothing is sent off-box. For IC prose, copy a research prompt below into ChatGPT or Claude.
On this device · modeled numbers, not an LLM
Self-hosted LLM (operators only)
CapStack does not host an LLM. Only use this if you already run the repo’s
agent-service. A saved, reachable https:// URL makes BLUF/Ask POST model JSON there — not to capstack.space. http://localhost:8787 works only when this app is also served over HTTP (browsers block it from HTTPS).