Solution
Cap table management without the spreadsheet chaos.
Perseids gives founders, finance teams and investors a live view of ownership, dilution, securities and transactions in one intelligent platform. Ownership is recorded as transactions, not edited cells, so the fully diluted position you show an investor is the one your records actually support.
One source of truth
Most private companies do not have one cap table. They have a spreadsheet, a folder of signed documents, an option tracker maintained by HR and an investor's own model. Perseids collapses those into a single register where every instrument is stored with its terms attached.
| Record | What Perseids stores | Why it matters |
|---|---|---|
| Shareholders | Legal name, type, contact, pool membership | Group 60 lines into 8 without losing the detail underneath |
| Share classes | Ordinary and preferred classes, rights, nominal value | Preference and conversion behaviour is modelled, not assumed |
| Options | Pool, grant, strike, vesting schedule, cliff, exercises | Vested and unvested counts are derived, never typed in |
| Warrants | Holder, quantity, strike, expiry, status | Instruments that usually live outside the spreadsheet stay visible |
| Convertibles | SAFEs and notes with cap, discount, interest, maturity | Conversion outcomes can be recomputed at any round |
| Transactions | Issue, transfer, exercise, conversion, cancellation | Any historical position can be reconstructed for a given date |
Shareholders
- What Perseids stores
- Legal name, type, contact, pool membership
- Why it matters
- Group 60 lines into 8 without losing the detail underneath
Share classes
- What Perseids stores
- Ordinary and preferred classes, rights, nominal value
- Why it matters
- Preference and conversion behaviour is modelled, not assumed
Options
- What Perseids stores
- Pool, grant, strike, vesting schedule, cliff, exercises
- Why it matters
- Vested and unvested counts are derived, never typed in
Warrants
- What Perseids stores
- Holder, quantity, strike, expiry, status
- Why it matters
- Instruments that usually live outside the spreadsheet stay visible
Convertibles
- What Perseids stores
- SAFEs and notes with cap, discount, interest, maturity
- Why it matters
- Conversion outcomes can be recomputed at any round
Transactions
- What Perseids stores
- Issue, transfer, exercise, conversion, cancellation
- Why it matters
- Any historical position can be reconstructed for a given date
Model scenarios instantly
Ownership questions are almost always forward-looking. The scenario engine in Perseids runs on the same deterministic maths that produces the cap table itself, so a model is not a separate spreadsheet that drifts out of date the week after you build it.
- A new funding round: set the raise, pre-money and pool policy, and see post-round ownership for every holder.
- An option pool increase: see whether the pool is created before or after the money, and who carries the dilution.
- A secondary transfer: model the effect of shares moving between holders at an indicative price.
- A founder sale: check the fully diluted result and any class thresholds it crosses.
- A warrant exercise: apply the strike and see the resulting share count.
- A SAFE or note conversion: apply caps, discounts and accrued interest at the round price.
Issue and manage securities
- 1Issue shares against a class and record the consideration and date.
- 2Generate a share certificate as a PDF from the ledger record, not from a template you fill in by hand.
- 3Create option pools, then issue grants with a vesting schedule and cliff.
- 4Issue warrants with strike and expiry, and track their status to exercise or lapse.
- 5Record exercises and transfers as transactions so the register and the history stay aligned.
AI-powered ownership intelligence
Ask Perseids reads your ledger and answers in plain language. It retrieves and explains; it never writes to the ownership record. Typical questions:
- Who owns more than 5% fully diluted?
- What happens if we raise €5M at a €40M pre-money valuation?
- Which options vest in the next six months?
- How much of the option pool is still unallocated?
AI in Perseids explains and proposes. Authoritative ownership records only change through an authorised human action.
Where it connects
A cap table is rarely the end of the workflow. Grants flow into the employee equity portal, instruments flow into warrant tracking, transfers flow into company-controlled secondary transactions, and the whole register can be opened for diligence in a permissioned data room.
Frequently asked questions
- What is cap table management software?
- Cap table management software records who owns what in a private company — shares, options, warrants and convertibles — and keeps that record correct as instruments are issued, exercised, transferred or cancelled. Good software derives ownership from a transaction history rather than storing a single editable snapshot.
- Can Perseids replace spreadsheets?
- Yes, for the ownership record itself. Perseids imports an existing spreadsheet through a staged mapping and review flow, then maintains the register as transactions. Signed legal documents remain authoritative, and Perseids is built to stay reconcilable with them.
- Does Perseids support options and warrants?
- Yes. Option pools, grants, vesting schedules with cliffs and exercises are first-class records, and warrants are tracked with holder, strike, expiry and status. Both feed the fully diluted view.
- Can I model dilution?
- Yes. You can model a priced round, an option pool increase, a convertible conversion, a warrant exercise or a secondary transfer, and compare pre- and post-transaction ownership for every holder.
- Can investors access the cap table?
- Only if you choose to share it. A company can connect its record to an investor workspace, or open a scoped data room. Access is granted by the company and can be withdrawn.
Start with your real numbers — import takes minutes.
Build your cap table