Cyndx, the AI-enabled search and discovery platform for identifying growth opportunities among private market participants, has announced its membership in the Open Cap Table Coalition, a cross-industry group that is collaborating to improve the interoperability, transparency, and portability of startup capitalization data. The working group includes major law firms that advise emerging companies, leading software providers, venture capital firms, and other critical members of the startup ecosystem.
As a foundational step, the Coalition members are producing a first iteration of the Open Cap Table Format (OCF), an open-source format to enable a new, more collaborative era in capitalization data management that aims to prioritize companies’ changing needs and help the ecosystem become more efficient. This first-of-its-kind cap table standard format will be released in Q1 of 2022.
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“Our mission has always been to build products that improve efficiency and transparency between investors and companies in the capital raising process,” noted James McVeigh, Founder and CEO of Cyndx. “Our cap table management solution, Owner, was designed to facilitate portability of cap table data and meet the needs of private companies regardless of where they are in their lifecycle. We are excited to join the Open Cap Table Coalition to help build standards and practices that best serve the entrepreneurial ecosystem.”
The Open Cap Table Coalition was officially founded in July of 2021. This is the first time in the private company equity management space that industry leaders and experts are coming together to create an open-source format that will facilitate capitalization data management and meet companies’ changing needs.
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