Cleaning Up a Complex Cap Table Before a Raise
An enterprise software company in Gurugram had accumulated a tangled cap table over several informal funding events — undocumented SAFEs, verbal ESOP promises, and inconsistent share records. As a priced round approached, the incoming lead investor required a single, reconciled source of truth before proceeding.
A clear-eyed look at where they stood.
An enterprise software company in Gurugram had accumulated a tangled cap table over several informal funding events — undocumented SAFEs, verbal ESOP promises, and inconsistent share records. As a priced round approached, the incoming lead investor required a single, reconciled source of truth before proceeding.
CapEasy reconstructed the ownership history from first principles, reconciling every issuance and conversion, formalising the ESOP pool, and correcting the statutory registers and ROC records to match. We produced a clean, fully documented cap table and resolved the discrepancies with the affected stakeholders.
The outcome
The company presented the investor with an accurate, reconciled cap table, clearing a key diligence hurdle. Ownership was documented consistently across the statutory records for the first time, smoothing the path to close.
This describes work CapEasy delivered in a real engagement; the client’s name is withheld to protect their confidentiality. Outcomes vary by company, sector and stage; nothing here is a promise of a similar result. CapEasy is a private consultancy and is not affiliated with any government authority.