Cap Table Pro Forma
Corporate Finance Excel Template (Free Download)
Turn current holders, options, grants, and future rounds into a projected cap table and dilution pro forma.
professionals from Deloitte
About this pro forma
This pro forma gives founders, finance teams, investors, and administrators a forward view of capitalization. Current shareholders, option pools, advisor and warrant grants, vesting schedules, financing terms, and proposed rounds roll into projected ownership and fully diluted share counts.
Use the output to prepare a financing scenario, explain dilution, or review post-money ownership. The underlying Excel engine keeps price per share, pool sizing, vesting, and the dilution waterfall auditable.
What every model includes
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
What's inside the Cap Table Pro Forma
- Projected issued and fully diluted ownership by holder
- Employee option pool, strike prices, vesting, and unvested tracking
- Advisor and warrant grants with exercise terms
- Historical financing rounds and post-money valuation
- Planned fundraising scenario and new share issuance
- Dilution waterfall showing each holder's projected percentage
Formatted to IB standards
Named theme colors repaint the whole workbook in one click, on top of an investment-banking structure with clear input, output, and cross-sheet reference styling - brand-ready, institutional-grade, and fully auditable.
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Frequently asked
What does fully diluted mean?+
It includes issued shares plus outstanding options and warrants as if they were exercised.
Can I model a new financing round?+
Yes. Add proposed pre-money valuation and investment to project price per share and post-money ownership.
Does it track vesting?+
Yes. Vesting schedules and unvested awards feed fully diluted capitalization.
Who needs the output?+
Founders, boards, investors, finance teams, and anyone reviewing ownership before a financing.
Have more financial modelling questions? Contact us
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