Exporting the cap table and registry

Getting the ownership position, the transaction record and the group structure out of the platform — and when giving someone access is the better answer.

Overview

Three things can come out of the platform, and the third is easily missed.

From	What it gives you
A company's Cap Table	The ownership position
A company's Registry	The transaction-level record
The project's Hierarchy	The group structure

The hierarchy export is usually what somebody outside the deal team actually wants — a structure chart is what an adviser, a lender or an incoming investor asks for first.

What you'll learn

The three exports and what each is of
When to export, and when access is the better answer
What to remember about a file once it leaves the platform

Steps

In the project navigation, open Companies and select the company. Open Cap Table, then choose the view you want — Position or Registry (A5.1).
Select Export.
For the group structure, go to the project's Hierarchy view and export there.
Note the date of the export somewhere the recipient will see it.

When to export rather than share access

The platform is the working record, so exporting is for taking a point-in-time copy out to somewhere it is needed:

Into a report or memo — an investment committee paper, a lender update
To an adviser with no platform access — counsel drafting the next wave's documents
For a reconciliation against a legal register held elsewhere
As a snapshot at a date — what the position looked like at closing, kept with the deal file

Where the recipient can have access, giving them a Viewer role is usually better than sending a file. They see the current position rather than a copy that ages from the moment you send it.

What to remember about an exported file

It is a copy, and it starts ageing immediately. The platform's cap table updates when movements are recorded; your file does not. Date every export and say what it is a snapshot of.

It leaves the platform's controls behind. Ownership data is commercially sensitive and identifies individuals. Once exported it is governed by wherever you put it, not by the project's roles.

It is derived, like the cap table itself. An export reflects what has been recorded. If a wave has not been closed, its transactions are not in the file.

Common problems

The export does not match a figure someone quoted. Check whether one of you is looking at a different date, or whether a process closed between the two readings.

You want a position as at a past date. An export gives you the current position. Reconstructing a historical one is a timeline question.

You need the documents as well as the figures. Exports carry the record, not the instruments. Signed documents are reached through the registry or the company's Documents view.

A5.1 — Reading the cap table · what the position means
A5.6 — Reconciling and correcting the record · the most common reason to export
A3.6 — Project hierarchy · the export people ask for most
A2.6 — Access control in practice · the Viewer alternative