Your cap table, in a folder you own.
Issue SAFEs and options, track everyone's vesting, collect signatures. Plain files on your computer. Investors sign from any browser.
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Capfolder does what Carta, Pulley, Cake Equity, Ledgy, Eqvista and the other cap table platforms do. The difference: it's free, your data stays on your own devices, and you can plug in your own AI to make the annoying tasks disappear.
We built it after losing our own cap table paperwork across Pulley, inboxes and "FINAL v3.pdf". A cap table is the most important record a company has. It shouldn't depend on a vendor, a subscription or a login.
Capfolder is software, not a law firm. It does not give legal, tax or financial advice. Templates come from public sources such as Y Combinator and are provided as is. Have a lawyer review your documents.
| Cap table | Founders, employees, the option pool and SAFEs, fully diluted, as of any date. Every number can show its math. |
| Vesting | 4-year/1-year cliff schedules, terminations, exercises, repurchases, transfers. |
| SAFEs | Post-money SAFEs (cap, discount, MFN) from the unmodified YC template, and their as-converted ownership. |
| Documents | Drop in a messy folder: SAFEs, grants, 83(b)s and consents are read, sorted and matched to the cap table on your computer (OCR for scans). "What's missing" lists the gaps before an investor finds them. |
| Signatures | Send a document; investors sign in their browser with no account. The signed PDF comes back to your folder. |
| Import / export | Import from Pulley, Carta and spreadsheets, or an OCF file. Export to Excel, OCF, or a zip for your lawyer. |
| Offline | Everything works offline except sending and receiving signatures. |
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| Everyone's vesting, with the full history | A due-diligence checklist that fills itself in |
The company's records are a folder of plain files. You can open it without Capfolder, back it up anywhere (Dropbox, iCloud, a USB stick), and it still works if we disappear.
Acme/
├── events.jsonl the record: every change, oldest first, hash-chained (never edited)
├── captable.csv the cap table, regenerated from the record; opens in Excel
├── ocf/ the same data in the Open Cap Format standard, for other tools
├── docs/ signed documents, sorted (safes/, grants/, 83b/, consents/, ...)
├── AGENTS.md instructions for your AI assistant
└── README.txt what all of this is, for humans
flowchart LR
subgraph You["Your computer"]
App["Capfolder app"] -->|appends| Log["events.jsonl<br/>(hash-chained, OCF)"]
Log --> CSV["captable.csv · ocf/"]
App <--> Docs["docs/ (PDFs)"]
AI["Your AI<br/>(Claude, ChatGPT, Ollama)"] -. reads, drafts .-> Docs
end
App -->|unsigned PDF only| Relay["Signing relay<br/>(hosted or self-hosted)"]
Relay -->|email link| Investor["Investor<br/>signs in browser"]
Relay -->|signed PDF| App
- Append-only, hash-chained record. Each change is one line holding the hash of the line before it, so edits are detectable. Mistakes are fixed with later corrections, never by rewriting history.
- Open Cap Format (OCF 1.2.0). The data follows the open standard from the Open Cap Table Coalition, so it can move to any other tool.
- The math is tested. Golden test vaults must reproduce their expected cap table byte for byte, and property tests check the invariants over 10,000 random histories.
The only thing that leaves your computer is the unsigned document, and only until it's signed.
sequenceDiagram
participant F as Your folder
participant R as Relay (Documenso)
participant I as Investor
F->>R: Unsigned PDF + its hash
R->>I: Email with a signing link
I->>R: Signs in the browser (no account)
R->>F: Signed PDF + certificate
F->>F: Checked page by page against your original
R--xR: Relay deletes its copy (within 7 days)
The relay is Documenso plus a small API, both open source. Use the hosted relay, or run your own with Docker: see apps/relay/.
Every company folder has an AGENTS.md (and a CLAUDE.md pointing to it), so Claude, ChatGPT/Codex, Cursor or a local model can work with your records straight away. The AI reads and drafts; you confirm every change in the app. It never edits the record. For example:
- "Explain the MFN clause, compare it with my other SAFEs, then prepare SAFEs for these three investors."
- "Write a friendly follow-up to the investor who hasn't signed."
- "Someone is leaving. How long do they have to exercise their options? Quote the clause."
- "What do I still need to fix before our next round?"
- "How much will I own after a $2M round at a $10M pre-money valuation?"
Capfolder's own document reading runs on your computer. Bring your own model (Ollama for fully local) if you want AI help in the app.
Get the latest version for macOS, Windows or Linux from Releases or capfolder.com.
During the beta the installers aren't signed with Apple or Microsoft certificates, so your computer warns once:
- macOS: open the app, then System Settings → Privacy & Security → Open Anyway.
- Windows: More info → Run anyway.
Installed apps update themselves; updates are signed, so only this project can publish them.
Needs Node 22, pnpm 10 and Rust (for the desktop app).
pnpm i # on Apple Silicon with an x64 Node, use: pnpm i --force
pnpm test # unit, golden and property tests
pnpm typecheck
pnpm lint
pnpm dev:desktop # the desktop app (first build takes a few minutes)
# the signing relay + Documenso: see apps/relay/README.md
apps/desktop/ Tauri 2 + React desktop app
apps/relay/ signing relay (Hono) in front of Documenso
apps/website/ capfolder.com
packages/core/ OCF event log, hash chain, reducer, vesting, invariants, import/export (pure TypeScript)
fixtures/ golden vaults + expected outputs (they gate CI)
docs/ spec, data model, decisions (start with docs/00-overview.md)
design/ clickable HTML mockups
brand/ logo and icons
Bug reports and pull requests are welcome: open an issue (please don't attach a real cap table). Security issues: see SECURITY.md.
Contributions need a CLA (individual, company); CLA Assistant asks on your first pull request. Why a CLA: the hosted signing relay runs on the maintainer's server and costs money. The CLA keeps the option to fund it later (a paid hosted plan or a commercial licence) instead of shutting it down. The app itself stays AGPL and free. The golden tests in fixtures/ gate CI: never edit an expected output to make a test pass.
AGPL-3.0. Built on Tauri, Open Cap Format, Documenso, PDF.js, pdf-lib, tesseract.js and more.
If Capfolder saves you a headache, you can pay what you want.