AI agent for venture capitalists
Round Cap Table Modeling Agent
A pro forma cap table and scenario table showing the fund's post-round ownership
What it does
A term sheet shows a price and a pool, but the fund's final ownership depends on notes, SAFEs and pro rata rights. This agent reads the current cap table and the proposed terms. It builds a pro forma cap table after the round, converting notes and SAFEs at their caps or discounts and adding the option pool top-up. It checks that ownership adds to exactly 100 percent and that share counts tie to the term sheet. Then it runs several scenarios, such as different valuations and pool sizes, and reports the fund's ownership in each. It flags any scenario where ownership falls below the fund's target and shows what price or pool change would fix it. The partner chooses which scenarios go into the memo. Edge case: a SAFE with a cap and a discount converts at whichever gives the investor more shares.
How it works
Follow the arrows from top to bottom. The orange dashed arrow is the loop: when a check fails, the agent goes back and tries again.
Read the steps as a list
- Term sheet or draft terms arrive
- Read the cap table and convertible instruments
- Convert notes and SAFEs using cap or discount
- Add the option pool top-up and the new round shares
- Do all holdings add to 100% and match the term sheet?If not: find the conversion or share count error and rebuild the table. Back to step 2.
- Run scenarios for valuation, pool size and round size
- Is the fund's ownership at or above target in each scenario?If not: calculate the price or pool change that restores the target. Back to step 6.
- Prepare a scenario table with notes on each assumption
- Partner chooses which scenarios go in the memoThe agent waits here for your OK.
- Pro forma cap table and scenario memo section
How it decides
Each note converts at the better of its cap or discount. The pool top-up is set so the pool equals the target percent after the round. Scenarios below target ownership are flagged.
- Convert each note at the lower effective price of cap or discount
- Size the pool top-up to reach the target pool percent after the round
- Flag ownership more than 1 point below the fund's target
- Treat unclear note terms as an open question, not a guess
Make it yours
Every agent is a starting point. You choose these settings for your own situation.
- Fund ownership target
- Valuation and pool scenarios to run
- Conversion method for notes
- Output format
What keeps you in control
It always asks you first
- Scenarios included in the memo
Hard limits
- Never sends the model to the company without approval
- Does not negotiate terms
It stops when
- Done: the model balances and scenarios are approved
- Stop: a convertible instrument's terms are missing
Set it up
We guide you through the set-up, step by step
Members get the full set-up guide for this agent. No technical skills needed: you copy, paste and upload.
- One set of instructions to paste into your AI, with the clicks for ChatGPT, Claude, Microsoft 365 Copilot, Gemini and Grok
- The agent then walks you through connecting your own data, one source at a time
- A downloadable copy with the flow chart, the rules and the full guide
