What Is a Cap Table? A Field Guide for VC Analysts
What a cap table contains, how dilution and the option pool shuffle change ownership, and which red flags a VC analyst should check before the IC memo.
Journal · IC Memo Craft
5 articles in IC Memo Craft.
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Porters Five Forces Analysis for VC Market Screening
A porters five forces analysis for VC deal screening: define the market, score each force with evidence, and turn the page into the next diligence question.
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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.
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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.
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What Is a Term Sheet? The VC Analyst's Field Guide
What a term sheet covers, why liquidation preference structure matters more than the multiple, and how EU deals differ from US term sheets.
