Investor Readiness - Building a Cap Table - with Unai Franco
This is the follow up session to session 13 on Valuations. It brings to to life the theory presented in the Valuation session and pushes people to consider further practical questions. This is an interactive session, in which the mentor shows how to build a cap table from scratch.
These are the questions we will answer in the session:
- How do I assign and distribute shares?
- How to model a convertible note?
- How do I allocate employee equity (ESOP)?
- How to account for a founder who might leave?
- How much equity to give to advisors?
- How to model a down round?
- How can I create scenarios for dilution?
- Waterfall, and liquidation preferences?
At the end of this, start ups will be able to create their own cap table, and plan scenarios for multiple rounds of funding ahead.
Unai Franco's Bio: Unai is an angel investor and co-founder of White Peak Partners, a strategy & corporate finance advisory firm based in the UK and in Spain. He specializes in Fundraising and M&A, Business Planning, Growth and International Expansion, and is currently advising prominent B2B software, consumer/mobile and eCommerce/ marketplace players in the fintech, energy, retail, travel, |oT and sales & marketing technology fields, among others. He is a former Investment Banker with 10 years of experience primarily at Merrill Lynch in London. He holds an MBA from London Business School and a Masters in Electronics & Automation Engineering with five years of professional experience in R&D at Daimler (Mercedes Benz) in Germany. He is fluent in English, German, Italian and Spanish. White Peak Partners advises technology companies on strategy and corporate finance leading to a transaction. Whether it is capital for growth, business strategies to succeed, the sale of the business or build-up by acquisition, their aim is to help entrepreneurs and their investors achieve their goals. Founded by former VC executives, engineers and bulge-bracket investment bankers, they leverage their extensive deal-making experience and strong professional relationships with VC/PE funds, corporations and the wider tech investor community to help their clients succeed.
This post is based on content from a WeWork Labs programming session. If you're interested in connecting directly with this mentor, please visit the Member Portal to book office hours.