Capital

Capital is the fundraising workspace for early-stage founders. It is built around the idea that fundraising is a sales process — and like any sales process, it benefits from visibility, discipline, and a consistent story.

The workspace gives you a Kanban pipeline to track investor conversations, a round configuration area for terms and math, a list view for CRM execution, a funnel analytics tab, and an AI document generator for investor materials.

Pipeline

The Pipeline tab is the default view and the operational centre of the workspace. Each column represents a stage in your fundraising process. Each card is an investor.

Stages:

• Target — Investors you have identified as a fit but have not yet contacted.
• Outreach — Active contact in progress; intro requested, contacted, or follow-up sent.
• Meetings — First, second, or partner meetings in progress.
• Diligence — Materials sent, questions open, references, or terms being reviewed.
• Committed — Soft circled or hard committed.
• Closed — Wired and done.
• Passed — Declined or unresponsive; hidden by default but toggleable.

Key fields per investor:

• Name and firm — Who you are tracking.
• Stage and substage — Where they are in the process at both the column and granular level.
• Next step — The specific action required to advance the conversation.
• Next step due date — When that action should happen. Cards with overdue dates are highlighted in the List and Funnel tabs.
• Source — Warm intro, cold outreach, event, accelerator, or other. Warm intro conversations typically convert at higher rates.
• Target check size — The expected investment amount from this investor.

Tips:

• Keep next steps current. A card without a next step is a stalled conversation.
• Drag cards between columns as conversations advance to keep the board honest.
• Use substages to add resolution inside a column without adding more columns.
• Click any card to open the investor drawer for full detail, meeting log, and editing.
• Toggle passed investors on at the bottom of the board to review objection patterns.

Investor Fields

Each investor record supports three groups of fields accessible through the Add or Edit dialog.

Overview fields:

• Name — Required. The investor's name.
• Firm / Fund — The VC, family office, or angel group they represent.
• Stage — The pipeline stage the investor is currently in.
• Substage — Fine-grained status within the stage (e.g. intro requested, first meeting, SAFE out).
• How you know them — The relationship type: warm intro, cold, event, accelerator, or other.
• Intro from — If warm intro, who is making the connection.
• Next step — The specific action to move the conversation forward.
• Due date — When the next step should happen.
• Owner — Who on your team is responsible for this action.
• Last meeting outcome — What happened in the most recent conversation.
• Notes — Context, background, or anything else useful to remember.

Fit and process fields:

• Check range — The minimum and maximum check size this investor typically writes.
• Stage focus — The funding stage they prefer (pre-seed, seed, series A, etc.).
• Sector fit — The industries or business types they back.
• Lead likelihood — Whether they are high, medium, or low likelihood to lead the round.
• Partner / decision maker — The person at the firm who makes the investment call.
• Warm path — How to reach them or who can make an introduction.
• Needs partner approval — Launchag if a full partner vote is required before a term sheet.
• Typical timeline — How long this investor usually takes from first meeting to decision.

Commitment fields (visible for Committed, Closed, and Passed investors):

• Soft circle — Verbal interest or informal indication of investment size.
• Hard commit — A firm commitment to invest a specific amount.
• Wired — Funds received.
• Pass reason — Why the investor declined.
• Main concern — The primary objection or open question that prevented a commitment.

Meeting Log

Each investor has a meeting log accessible from the investor drawer. Use it to record every conversation as it happens.

Meeting fields:

• Date — When the meeting took place.
• Attendees — Who was in the room or on the call.
• Outcome — What was agreed, decided, or learned.
• Questions asked — Questions the investor raised that you should be able to answer better next time.
• Follow-ups promised — Commitments you made to send materials, make introductions, or provide answers.
• Sentiment — Positive, neutral, or negative read on the conversation.

Tips:

• Log meetings immediately after they happen while the details are fresh.
• Capture questions asked even if you answered them well — they reveal diligence priorities.
• Follow-ups promised become your next step. Update the investor's next step field to match.

Round

The Round tab defines the structure and math of your raise. It is split into two columns: configuration forms on the left and data room plus pipeline summary on the right.

Round details:

• Instrument — SAFE, convertible note, equity, or other. Determines which additional fields are relevant.
• Target raise — The total amount you are trying to raise.
• Valuation cap — The maximum valuation at which a SAFE or convertible note converts. Required for most SAFEs.
• Discount — The discount rate for convertible notes at conversion.
• Round notes — Free text for use of funds narrative, investor thesis, timeline, or any other context you want to capture.

Round math:

• Minimum close — The smallest raise that still makes the round viable. Used by the Funnel tab to calculate close risk.
• Desired close — Your target raise amount. Often higher than the minimum close.
• Runway today — Current months of runway at your current burn rate.
• Months runway added — How much additional runway this raise is expected to provide.
• Use of funds — A table of categories, amounts, and descriptions breaking down how the capital will be deployed.
• Milestones — The product, revenue, or operational goals this raise is designed to achieve.

Tips:

• Set minimum close and desired close as separate numbers. The minimum anchors your decision-making if momentum slows.
• Use the use of funds table to make deployment concrete before you talk to investors. You will be asked.
• Milestones should be specific and time-bound. Vague milestones ("grow the team") are less compelling than specific ones ("launch v2, reach $10k MRR, hire two engineers").

Data Room Checklist

The data room checklist tracks whether your core fundraising materials are ready. Use the "Set up checklist" button to populate the default pre-seed items.

Default items:

• Incorporation documents
• Cap table
• SAFE / note template
• Financial model
• KPI snapshot
• Customer references
• Product demo
• Legal docs (IP assignments, employment agreements)

Tips:

• Work through the checklist before outreach starts, not during diligence.
• Investors who request materials mid-conversation expect a fast response. Have everything ready.
• Not every item will be relevant to every raise. Mark items ready when they are actually complete, not when they are drafts.

List

The List tab shows all investors in a filterable, sortable table. It is designed for CRM execution: working through follow-ups, processing overdue actions, and reviewing warm intros systematically.

Filter chips:

• All — Every investor regardless of status.
• Overdue — Investors where the next step due date has passed without being updated.
• This week — Investors with a next step due in the next seven days.
• Warm intros — Investors with source set to warm intro.

Stage filter:

• A dropdown to narrow the list to a specific pipeline stage.

Tips:

• Check the Overdue filter at the start of each week and clear it before it builds up.
• The This week filter is the most useful for weekly pipeline reviews.
• Click any row to open the investor drawer and update next steps, log a meeting, or edit details.

Funnel

The Funnel tab shows your pipeline in aggregate. It is useful for weekly reviews and for spotting structural gaps that are hard to see on the Kanban.

Key metrics bar:

• Pipeline — Total investors tracked, including passed.
• Meetings+ — Investors who have reached meetings, diligence, committed, or closed.
• Committed — Total committed capital using the best available amount (wired → hard commit → soft circle → target check size).
• Close risk — On track if committed meets or exceeds minimum close; at risk if it falls short; not started if no commitments yet.
• vs min close — A progress bar showing committed as a percentage of minimum close, when both are set.

Stage funnel:

A horizontal bar chart showing investor count at each stage from Target through Closed. Bars are proportional to the most populated stage. Percentages are calculated against the total excluding passed investors.

Healthy pre-seed benchmarks (approximate):

• 20–40 investors in Target or Outreach
• 10–15 in active Meetings
• 3–8 in Diligence or later

Needs attention:

• Overdue — Investors with a next step due date in the past, sorted by how far overdue.
• Due this week — Investors with a next step due within seven days.

Source breakdown:

Count of investors by relationship source. If warm intro conversion is low, the issue is often connection quality, not pitch quality.

Pass analysis:

A list of passed investors with their pass reasons, visible once investors have been moved to the Passed stage. Use this to spot patterns across the round: if three investors cite the same concern, address it in your pitch.

Documents

The Documents tab generates investor-ready materials from your workspace data using AI. Documents are stored and editable in the workspace after generation.

Document types:

• Investor Memo — A concise business overview for investors covering problem, solution, market, model, traction, team, and ask.
• Pitch Narrative — A story-driven pitch covering the founder's journey, problem, solution, timing, and ask.
• Round Summary — A structured overview of the round terms, use of funds, and milestones.
• SAFE Overview — Plain-English explanation of SAFE terms, conversion mechanics, and founder implications.
• One-Liner — A single sentence describing what the company does, who it serves, and why it matters.
• Investor FAQ — Eight to twelve sharp Q&A pairs covering the questions investors most commonly ask at pre-seed.
• Data Room Index — A structured checklist of data room contents with descriptions of what each section should include.
• Investor Update Template — A reusable format for monthly or weekly investor updates with sections for metrics, wins, blockers, and asks.
• Intro Request — A warm intro request template for asking a mutual contact to facilitate an investor introduction.

Tips:

• Fill in your round details and at least a few investors before generating documents. The AI uses that context to produce specific output.
• Generate individual documents rather than the full pack when you only need to update one.
• Edit every generated document before use. The output is a strong first draft, not a finished product.
• The one-liner and FAQ are the most useful documents in early conversations. Prioritise them first.
• Export the full bundle as Markdown to import into Notion, a pitch deck tool, or your data room.