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 Exporting cap table for investor audit - how to include SAFEs?

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Ann Marie Guzzi's profile image
Ann Marie Guzzi posted 01-26-2024 11:02

Hi there,

It's investor audit season, and we just got a request. 

The request includes an ask for the cap table as of 12/31/23. Our round was raised on SAFEs though, so the only equity holders are the founders/employees who have exercised options. When I go to export the cap table, that means the investor doesn't show. Is there a way to export a view of the cap table that includes SAFEs?

Sean Meehan-Kelley's profile image
Sean Meehan-Kelley Best Answer

Hi Ann Marie,

There's two ways that I would recommend going about this.

Most Carta reports are to help companies have visibility on current ownership. So there will be occasions where a report wouldn't include anything that does reflect current ownership (like a SAFE that has yet to be converted). Still, there are two ways to go about pulling data on your convertible notes ledger (which would include SAFEs).

First, if you pull a Cap table > Run reports > Cap table report and select the 'Securities by ledgers by type and class' checkbox, you'll be able to download an Excel report that will have a Convertibles tab you can select at the bottom of the spreadsheet that would encompass the basic line items of your SAFE stakeholders.

Secondly, if you wanted to get fancy, since Carta cannot calculate fully diluted for a SAFE as that is something that will be converted during a round of financing, you can download a report directly from our Fundraising > SAFE financing > Model your fundraise tool. Simply run the scenario of the upcoming round and it will model what dilution would look like after the SAFEs convert. Then you can download the report by clicking  Export cap table report and it will list the SAFE stakeholders by name, amount invested and the projected amount of ownership they would be due to receive after conversion.

I hope this was helpful! Don't hesitate to reach out again with more questions and have a great weekend!