Capitalisation Table

A capitalisation table (cap table) is a list of who owns what share of a company, including founders, investors and anyone holding options. It shows each holder, how many shares they have and what percentage of the business that represents, kept up to date as things change.

It is like the ownership page of a property deed, but for a company, spelling out exactly who holds which slice. A capitalisation table matters because every funding round and share issue changes who owns how much, and founders who lose track can be surprised by how little of their own company they still hold.