Phase 1 · Discovery · Clarity Begins Here
Cap Table & Equity Structure Advisory
The cap table you build at the start follows the business to the exit. A poorly structured cap table is one of the most common and most avoidable reasons that good businesses produce poor founder outcomes.
Cap table and equity structure advisory is the commercial and strategic guidance on the ownership architecture of the business — from the initial founder share structure through co-founder splits, employee option pools, advisor equity, and investment rounds to the exit waterfall that determines who gets what when the business is sold. We design the equity structure that is fair, investable, and founder-protective from the first day the company is incorporated.
The Pain We Solve
You may recognise yourself in one of these.
Three audience scenarios · because the same service produces a different transformation depending on where you are in the business journey.
Scenario 1
The founding team that split equity equally without thinking about the implications
A 50/50 split between two co-founders seemed fair at the time. Now one co-founder is doing twice the work, both have equal vesting, and the cap table is creating a governance problem that any investor will immediately identify and condition.
Scenario 2
The business that has given equity loosely to advisors, early employees, and service providers without a vesting structure
Equity has been distributed generously in the early days. Some of the recipients have moved on, done little, or are now adversarial. The cap table has become cluttered with stakes that no longer serve the business — and every investor will scrutinise it.
Scenario 3
The founder who does not understand how the funding rounds they are planning will affect their ownership at exit
The dilution from multiple rounds of investment, combined with option pool creation and anti-dilution provisions, produces a founder ownership percentage at exit that is significantly lower than expected — and often lower than the founder would have accepted if they had modelled it clearly at the start.
The Impact It Creates
The Moment You Will Feel the Difference.
Equity structure that is fair, investable, and founder-protective from the outset
Co-founder and employee vesting that protects the business from early departures
Dilution modelled clearly across multiple rounds so the exit outcome is never a surprise
Cap table that investors can trust and that supports rather than complicates fundraising
What You Receive
The Specific Deliverables.
Tangible outputs · documented, dated, and yours to keep.
- Cap table audit and clean-up advisory
- Founder equity structure design — splits, vesting, and leaver provisions
- Employee stock option plan (ESOP) design
- Advisor and service provider equity framework
- Investment round dilution modelling — across multiple scenarios
- Exit waterfall modelling — who gets what under different exit scenarios
The Outcome
Where You Will Be on the Other Side.
The business has an equity structure that is clean, fair, investable, and founder-protective — with every stakeholder's ownership properly vested, documented, and aligned with the contribution they are making and the outcome they deserve.
Primary Focus
Designing and advising on equity structure and cap table architecture that is fair, investable, and founder-protective across all stages of the business lifecycle.
KPI Measurement
- Cap table complexity score
- Investor feedback on cap table quality during due diligence
- Founder ownership percentage at modelled exit scenarios
- Vesting schedule compliance rate
- Option pool utilisation and retention impact
Investment & ROI
Pricing Engineered Around the Value You Create.
Every engagement is sized against the value we believe we can create with you · the fee is always a fraction of the outcome. Four tiers · so the investment matches your stage of business.
Tier 1
Foundations
£5,000 – £15,000
Right for
Pre-startup, startup, and micro-business founders ready to build on evidence rather than instinct.
Typical Value Created
£50K – £500K avoided in misdirected launches and bad bets
Engagement
4 – 8 weeks
Target Return
5 – 10× ROI
within 12 – 18 months
Tier 2
Acceleration
£15,000 – £50,000
Right for
Growing SMEs and established small businesses ready to scale a working model into the next revenue band.
Typical Value Created
£250K – £2M of better-informed launch decisions and faster market traction
Engagement
8 – 16 weeks
Target Return
5 – 10× ROI
within 12 – 18 months
Tier 3
Transformation
£50,000 – £250,000
Right for
Medium enterprises and scale-stage businesses ready to commit to a multi-quarter, organisation-wide shift.
Typical Value Created
£1M – £25M in strategic pivots de-risked and new categories validated
Engagement
3 – 9 months
Target Return
5 – 10× ROI
within 12 – 18 months
Tier 4
Enterprise
£250,000 – £2M+
Right for
Large enterprises, global operators, and complex organisations ready for a multi-year strategic partnership.
Typical Value Created
£5M – £100M+ in optimised market entry, M&A diligence, and category positioning
Engagement
12 months and onward
Target Return
5 – 10× ROI
within 12 – 18 months
Why We Price This Way
Every engagement is sized around the value we believe we can create with you. The fee is always a fraction of the outcome · typically 10 – 20% of the expected first-year return.
This is how we make sure pricing aligns with results. The conversation is never “what does this cost?” · it is always “what is this worth to your business?” We answer that together in the first call, transparently, and decide the right tier from there.
If we cannot articulate a credible 5–10× return for your specific situation, we will tell you in the first call. That honesty is part of why our clients trust us with the work that matters most.
Why This Conversation Matters
“The cap table is a consequence of every decision you make about ownership from the first day. The ones made without advice are often the ones that define the founder's outcome at exit. We make sure those decisions are made with full understanding of their consequences.”
A 90-minute structured strategy session · produces a usable roadmap whether you engage further or not.
More in Phase 1