Cap Table Example: How a VC Analyst Reads One in Diligence
A worked cap table example across Seed and Series A, read as a VC analyst would: option pool, dilution, fully diluted checks and who gets paid in an $18M exit.
3 articles by Bastien Renard.
-
-
Convertible Note vs SAFE: The Deal Structure Question
Most guides compare convertible notes and SAFEs from the founder's chair. This one reads the same instruments from the investor's side: dilution model, maturity risk, and IC memo structure.
-
How AI Coding Agents Change the VC Analyst Workflow
What AI coding agents do, which tools fit a small fund workflow, and how to diligence the startups building them.
