Your cap table isn't a spreadsheet. It's your startup's economic architecture.
Track current ownership, understand the potential impact of your SAFEs, and model future rounds before making decisions.
Most founders discover their dilution too late.
SAFEs accumulate
Each SAFE looks simple in isolation. Together, they can materially change future ownership.
The option pool expands
New hiring plans can dilute founders and existing investors.
A priced round arrives
The new round determines how convertible instruments become equity.
Negotiation starts without a model
Founders discuss valuation without seeing the complete economic effect.
The cap table is a negotiation tool, not an administrative file.
A cap table does not only record what happened. It helps founders understand what they are giving up, what each investor may receive, and how a new round changes the position of everyone already involved.
You should understand the outcome before you negotiate the terms.
One company. One ownership record.
Capital Structure
Manage authorized shares, Common, Preferred and Stock Options within the same structure.
Stakeholders
Classify founders, investors, employees and advisors.
Shares or percentages
Load and view holdings as a number of shares or as a percentage.
Ownership Distribution
Understand how much capital is allocated and how much remains available.
Company metrics
Check issued and outstanding shares, capital raised and the last recorded valuation.
Every percentage has a stakeholder, an instrument and a history behind it.
Three views. Three different questions.
Today
Who owns what today? Shows the equity currently recorded: founders, investors, employees, advisors, common, preferred and stock options.
Fully Diluted
What could ownership look like if the SAFEs convert? Projects how the cap table could change when convertible instruments are incorporated in a future priced round.
Scenarios
What happens if we raise another round? Add convertible instruments, priced rounds and exit events to compare different decisions.
Current ownership and fully diluted ownership don't tell the same story.
- Common shares
- Preferred shares
- Stock options
- Existing shareholders
- SAFEs
- Convertible notes
- Future conversion assumptions
- Resulting stakeholder participation
Both views matter. They answer different questions.
A SAFE doesn't always appear as a share today. But it can change ownership tomorrow.
A SAFE is not necessarily equity at the moment it is signed. But its valuation cap, investment amount and conversion conditions can determine how much ownership the investor receives in a future priced round. Vefy separates current ownership from potential dilution, so both can be understood without mixing them.
Valuation Cap
Sets the maximum valuation used to determine the conversion.
Investment Amount
Defines how much capital came in through the instrument.
Discount
Can modify the conversion price when it applies.
MFN
Lets you model conditions tied to more favorable future terms.
Model the round before you negotiate it.
Add a future round, define its terms and understand how ownership could change before committing to a structure.
Convertible
Model SAFEs or notes with valuation cap, discount, MFN, investors and invested capital.
Priced Round
Add a Seed, Series A or Series B that triggers the conversion of the instruments.
Exit
Project an acquisition or IPO and analyze the pro-rata distribution.
See how every round changes the company.
The Ownership Waterfall compares the initial structure with each new round, column by column. Founders, investors and the employee pool can be followed through every stage.
Dilution becomes easier to understand when every stage can be compared.
You don't need to rebuild your cap table from zero.
Bring existing records into Vefy through the format that best matches your company.
Import SAFEs from PDFs
Upload existing contracts to extract their main data.
Import corporate documents
Use Operating Agreements, Restricted Stock Purchase Agreements and stock option grants to identify stakeholders and holdings.
Use the Excel template
Download the template, fill it in and import the structure in bulk.
Vefy extracts the structure. You review it before it becomes part of the record.
Modeling equity can be digital. Issuing it requires review.
When you are ready to issue new equity, Vefy does not turn a legally relevant decision into an unchecked button. The platform starts a review with the legal-operational team before moving forward.
Simple experience. Serious execution.
Founders already using Cap Table Management.
Three products. One fundraising record.
SAFE
Create, sign and import the round's instruments.
Cap Table
Manage the current equity and model future dilution.
Dataroom
Organize and share the documentation investors expect.
- SAFE — unlimited YC-standard instruments with e-signature.
- Cap Table — ownership modeling, dilution scenarios and waterfall.
- Dataroom — 50GB of storage with granular sharing controls.
- Everything connected to the same company record.
What it includes and what it doesn't.
- Editable Capital Structure
- Authorized, common, preferred and stock options
- Stakeholders classified by type
- Today view
- Fully Diluted view
- Scenario modeling
- Convertible rounds
- Priced rounds
- Exit scenarios
- Ownership Distribution
- Ownership Waterfall
- Import from SAFEs in PDF
- Import from corporate documentation
- Excel template
- Autosave
- Legal issuance of equity without review
- A guarantee on the outcome of a round
- Financial valuation of the company
- Personalized tax advice
- Confirmation that any SAFE will convert under a specific outcome
- Replacement of official corporate documentation
- Unlimited legal opinion or lawyers on demand
Software where legal-operational judgment is already built in.
Vefy combines structured workflows with legal-operational criteria. Routine modeling remains digital. Legally sensitive actions, such as issuing equity, can be escalated for review before execution.
Know the ownership outcome before you negotiate the round.
Build your current cap table, model potential dilution and compare future scenarios inside Vefy.