Master cap tables and exit waterfalls in 3 weeks by Taylor Davidson

Master cap tables and exit waterfalls in 3 weeks

Live masterclass for founders and venture capitalists to learn the math behind creating and analyzing cap tables and exit waterfalls.

Intro to the masterclass, by Taylor Davidson of Foresight

Cap tables are confusing. I've helped over 20k founders and venture capitalists with tools to understand how equity, convertible notes, SAFEs, and tokens impact their cap tables, dilution, and ownership. Join the masterclass to learn the terms, math, and important insights.

See what people are saying

There is no other way to put it; Taylor knows his stuff. From his financial model (which I have been using for years) to this course, his work always exceeds expectations. This course covers everything I expected and much more. The detail on SAFES, option pools, and exit waterfalls was the refresher I needed.

Cohort 2 participant

Taylor's classes, videos and resources were very helpful as I further navigate cap tables. My understanding of dilution and waterfall modeling has greatly improved as a result of his class. Taylor was quick to respond to questions and provide updated resources based on class responses / questions. I would highly recommend this class.

Cohort 1 participant

This course provides a ton of great reference material on cap tables and exit waterfalls. You'll come away with a collection of spreadsheets and videos that walk you through the math of various scenarios and give you the confidence to create your own cap tables.

Cohort 1 participant

I really like the step-by-step templates to help understand how the maths work in building out cap tables and scenarios.

Cohort 1 participant

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Cap Table and Exit Waterfall Masterclass for Founders and VCs

Who is this course for

01

Founders raising capital who are creating and managing cap tables

02

Venture Capital analysts and associates, lawyers and accountants looking to learn how to build cap table models

03

Anyone looking to get into venture capital or startups and understand how cap tables work.

Learn how to read, understand, and create cap tables and exit waterfalls

Build a cap table from scratch

Understand the math and structures necessary to create fundraising rounds, convert notes and SAFEs, calculate proratas, and more.

Build an exit waterfall from scratch

Understand the terminologies and math involved in showing how proceeds from an exit are distributed to the owners of a business, and be able to build your own, from scratch.

Create scenario analyses around fundraising events

Be able to take a list of shareholders, rounds, share prices, and more from any cap table management software and create your own custom scenario analyses around future fundraising rounds or exits.

Understand how fundraising rounds impact cap tables

Understand how to calculate dilution and ownership over time to understand the impact of different fundraising structures (equity, notes, SAFEs).

Meet your instructor

Taylor Davidson

Founder and Managing Director, Foresight

Taylor Davidson is the founder of Foresight, which helps entrepreneurs use financial models for business decisions. Through his template financial models and strategic advisory services, he has helped over 35,000 entrepreneurs from 116 countries on financial planning, projections, fundraising, valuations, and business strategy. Taylor has also worked with over 600 angel investors and venture funds on investment strategy, portfolio tracking, capital planning, and fundraising. Contact me at hello@foresight.is or @tdavidson on Twitter.

4 live sessions + 4 office hours + downloadable tools and instructional videos

How to read and create cap tables

We'll dive into details on the terminologies and structure of capitalization tables, including how to calculate share prices, use valuations, model equity fundraising rounds, issue new shares to investors, and calculate ownership percentages.

How to model convertibles (SAFEs and convertible notes)

We will cover how to issue convertible securities (SAFEs, convertible notes, and warrants), and how to convert them into shares, calculating share prices, valuations, and ownership percentages.

How to model option pools

We will cover how to model option pools, from creating, refreshing, and tracking the issuance of options through rounds.

How to model exit waterfalls

We will learn how to create an exit waterfall to model the distribution of proceeds to shareholders, detailing how to handle liquidity preferences, converting preferred shares to common shares, and handle the flow of proceeds to multiple classes of shareholders.

Be the first to know about upcoming cohorts

Cap Table and Exit Waterfall Masterclass for Founders and VCs

Learning is better with cohorts

Active learning, not passive watching

Four live workshops, four office hours, plus downloadable example tools to help you create your own cap tables to edit and use during the course.

Learn with a cohort of peers

You’ll be learning with other venture capitalists, founders, and people looking to learn how to create and understand cap tables and waterfalls.

Learn to build your own models

I've taught over 40 in-person and virtual classes around financial modeling. Learning these topics requires more than a prerecorded set of videos, this course is created to create live interaction and active review of your models so you best learn how to build your own models.