01 Cap Table

The position, at any date.

Pick a date and CapTab rebuilds the full capitalisation from the register — shares, preference instruments, and shareholder loans with accrued interest to the day.

No spreadsheet formulas to maintain. No version drift between the model and the register.

  • Point-in-time snapshot at any historical or future date
  • Accrued interest calculated per investor, per period
  • Export to Excel with live formulas retained
  • Covers ordinary shares, preference shares, and SHLs in one view
Cap Table — Northgate Bidco Ltd 31 Mar 2026 Export .xlsx
Investor Shares Total incl. interest %
Meridian Capital Fund II Fund
via Meridian MasterCo II S.à r.l.
14,250,000
£48,312,400
67.4%
Northgate Management Mgmt
Nominee — Management pool
4,800,000
£16,272,000
22.7%
Ashford Co-Invest LP
Co-investment vehicle
2,100,000
£7,118,500
9.9%
Total
21,150,000
£71,702,900
100.0%
Instruments — Northgate Bidco Ltd 4 classes
Preference C PREF
Issued 15 Jan 2021 · Quarterly compound · ACT/365
10.00%
p.a.
Preference D PREF
Issued 3 Aug 2022 · Quarterly compound · ACT/365
12.00%
p.a.
Shareholder Loan T1 SHL
Issued 15 Jan 2021 · Annual compound · ACT/365
8.50%
p.a.
Shareholder Loan T2 SHL
Issued 3 Aug 2022 · Annual compound · ACT/365
9.00%
p.a.
02 Instruments

Every term, encoded once.

Each instrument class carries its own commercial terms — rate, compounding frequency, day-count convention, lender and borrower — set once at inception and applied consistently across the life of the instrument.

Variable rate instruments are supported via period-level overrides, so a change in PIK rate flows through to every interest calculation automatically.

  • Ordinary shares, preference shares, and shareholder loans
  • Per-period rate overrides for variable instruments
  • ACT/360 and ACT/365 day-count conventions
  • Annual and quarterly compounding
03 Transactions

The ledger everything else is built on.

Every issuance, transfer, and redemption is stored as an immutable transaction. Cap table positions are derived from the ledger on demand — there is no separate state to keep in sync.

Import via CSV or record transactions directly. The full history is always auditable.

  • Issuances, transfers, redemptions, and conversions
  • Investor and investee recorded on every transaction
  • CSV bulk import for initial data load
  • Full history — nothing is deleted or overwritten
Transactions — Northgate Bidco Ltd 178 entries
Date Type Description Amount
15 Jan 2021 Issue Ordinary shares — Meridian Fund II initial subscription £24,000,000
15 Jan 2021 Issue SHL T1 — Meridian Fund II drawdown £18,500,000
3 Aug 2022 Issue Preference D — follow-on round £8,750,000
12 Nov 2024 Transfer Ordinary shares — management buyout tranche £1,200,000
Valuation — Northgate Bidco Ltd 31 Mar 2026
Enterprise value
£68.0m
Less net debt
−£12.4m
Less prefs & SHLs
−£7.1m
Equity value
£48.5m
04 Valuation

From enterprise value to your equity.

Enter an enterprise value and CapTab builds the waterfall automatically — netting off debt, preference instruments, and accrued interest to arrive at distributable equity for each investor.

Money multiples are calculated against invested cost, so you always see IRR and MOIC alongside the current position.

  • EV bridge from enterprise value to equity
  • Waterfall distribution per investor class
  • MOIC and IRR calculated from cost basis
  • Point-in-time or forward-dated scenarios
05 Structure

The chart you redraw for every deal — drawn for you.

CapTab derives the ownership structure directly from the transaction register. No manual diagram to maintain. Ownership percentages at every level update as transactions are recorded.

Filter by instrument type to show only equity, preference, or loan flows — useful for deal review and LP reporting.

  • Automatic layout from transaction graph
  • Ownership % displayed at every level
  • Filter: All / Equity / Prefs / SHL
  • Fund → MasterCo → LuxCo → TopCo hierarchy
Structure — Northgate Bidco Ltd
All Equity Prefs SHL
Meridian Fund II
Fund · Lux SCSp
Meridian MasterCo II
MasterCo · Lux Sàrl
100.0%
Northgate LuxCo
LuxCo · Lux Sàrl
67.4%
Northgate TopCo Ltd
TopCo · England & Wales
Northgate Bidco
HoldCo
100.0%
Northgate OpCo
OpCo
100.0%

Get started

Twenty minutes with your own numbers.

Load your data, walk through each view, and see whether CapTab fits your workflow — no commitment required.