FD Valuation
$12,400,000
Vol. I · § Portfolio · 04 / 07
§ Smartshares · Share · Cap-table-of-record · Since 2025 · Pre-launch · Invite only
Every share, accounted for.
Share is the cap-table-of-record for multi-tenant equity and incentive management. We bought it from its solo founder in 2025 — and have spent the year folding it onto the same backbone every other brand in the family runs on.
§ Positioning · in Share's voice
Your cap table, of record.
Every instrument, vesting schedule, approval, and payout in one governed, evidence-grade ledger. So finance, legal, and founders work from the same truth — and auditors, investors, and regulators get a defensible answer when they ask who changed what, when, and on whose approval.
15cos.
Companies under management
Cap tables, incentive plans, project participation, and commissions — held in one governed ledger across every tenant in the workspace.
6engines
Scenario engines available
Exit waterfall · round dilution · option-pool top-up · secondary tender · recapitalization · convertible conversion — plus Monte Carlo overlay.
100%
Audit-event coverage
Every change captured as an evidentiary event with retention and legal-hold controls. Nothing edits without a trail. Nothing deletes through a hold.
§ Centerpiece · The evidence-grade ledger
Equity is too important to live in spreadsheets.
Spreadsheets drift. Point tools fragment the picture. Share treats every cap-table move — every issuance, every approval, every vesting tick — as a discrete evidentiary event in an append-only ledger. The same record the founder reads is the one auditors get to inspect. The same record holders see is the one finance ties out at close.
- Append-only audit chain — every change, every actor, every approval signature
- Retention policies — per-tenant, per-instrument class, enforced at storage
- Legal holds — prevent deletion of held artifacts regardless of policy
- Row-level security — tenant/company/project isolation, at the database
- Decision Records — policy governance held alongside the records they govern
Holdings · Anders L.
Portfolio overview · Q2 2026
Vested
| Instrument | Issued | Granted | Vested |
|---|---|---|---|
| ISO-0042Incentive stock options | 2024-03-12 4 yr · 1 yr cliff |
50,000 | 31,250 |
| RSA-0011Restricted stock award | 2024-08-01 3 yr · monthly |
12,000 | 7,000 |
| SAFE-0008Y23 SAFE · $5M cap | 2024-01-22 Converted |
— | — |
§ Six scenario engines · plus Monte Carlo
Model the dilution. Model the exit. Reproduce both, on demand.
Founders model in fragile one-off spreadsheets. Share lets every team run the same six scenario engines against the same ledger — and reproduce the answer six months later. Probabilistic overlays show the range, not just a point estimate.
§ AExit waterfall
§ BRound dilution
§ COption-pool top-up
§ DSecondary tender
§ ERecapitalization
§ FConvertible conversion
The five capability pillars§ Capabilities · A–E
All on one governed ledger
A · Cap table
Cap table of record
Full instrument lifecycle — SAFEs, notes, options, RSAs, common — with issuance, approval, vesting, and OCF JSON I/O.
SAFEs · ISO · RSA · OCF
B · Incentives
Incentives & participation
Versioned incentive plans. Project participation engine across pools, milestones, contributions, and allocation cycles.
Plans · pools · cycles
C · Approvals
Multi-step approvals
Issuance and amendments run through enforced policy — not email chains. Every signature timestamped, every record locked on approval.
Policy · signatures · locks
D · Advisor
Advisor Portal
Time-bounded, scoped access for outside advisors. Verified entry, expiry on a fixed date, every read auditable.
Time-bounded · scoped
E · Commissions
Sales commissions
Invoice import drives evaluation runs. Approval engine, payables that reconcile back into the same ledger.
QBO · payables · ledger§ Tax workflow depth
Built around the forms the IRS actually reads.
Most equity tools stop at "here's your option grant." Share carries through to the tax artifacts that finance and the holder are responsible for — formatted, tracked, and tied back to the underlying instrument.
§ 83(b)
Election tracking from issuance, with the 30-day window enforced and the filing artifact archived.
Rule 701
Capacity snapshots at each grant — so the company knows when it's approaching the 701 threshold.
IRS 3921
ISO exercise reporting, formatted to IRS-aligned output and downloadable for filing.
1099-MISC
Contractor commissions emitted as 1099-MISC-ready data, tied to the underlying payable.
§ Sign-off · in the finance lead's voice
“The cap table ties out the way our auditors expect, and nobody on the team is keeping a side spreadsheet. That alone was worth the migration.”A finance lead at a portfolio company · Q2 2026
§ 04 / 07 · Held by Forward Rise
Bought in 2025. Rebuilt on the family backbone.
We bought Share from its solo founder in early 2025. The product was sharp; the operations were a single person carrying a finance-grade system on goodwill. We folded it onto the same accounting close, the same shared-services rhythm, and the same on-call rotation every other brand in the family runs on.
Eleven people. Pre-launch. Invite only. Generational time horizon. The founder is still here — but the operations no longer rest on one pair of shoulders.
§ A
Accounting & financeOne ledger, one close calendar, run by the family team.
Active
§ B
Human resourcesHiring, benefits, employment law — held in common.
Active
§ C
StaffingBench of cross-portfolio talent on rotation.
Active
§ D
Technical expertiseShared infra, on-call, security posture.
Active
HQAustin, TX
Lead operatorTeam in Austin
Joined the familyBought 2025
StagePre-launch · Invite only