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Build an Exit Waterfall from Scratch

Coming Soon

Live 3 hour workshop for founders, VCs, and lawyers to learn how to build am exit waterfall or liquidity analysis for an exit event of a venture-funded startup.

We'll build an exit waterfall you can understand.

Creating an exit waterfall to understand how to distribute the proceeds from an merger, acquisition, or exit event to a company's debt and shareholders requires an understanding of how to interpret and convert legal agreements using math.

In this live 3 hour workshop over Zoom we will take a capitalization table from an example company and learn how to create a dynamic, scenario-driven distribution of proceeds to different classes of preferred shareholders, common shareholders, and option holders, accounting for the preference stack, participation rights, and more.

The workshop is three hours long and can be joined live or watched on your own time. All students will receive the slides, the example spreadsheet, the case study, and the recording of the full workshop, and all of the materials can be downloaded for viewing on your own time.

Help shape the content of the workshop

If you're interested in the workshop, please complete this short survey to help shape how it's structured and what it will cover.

How does this compare to the Cap Table Masterclass and the Cap Table Workshop?

The Cap Table and Exit Waterfall Masterclass consists of five 1.5 hour letures over two and a half weeks, covering the fundamentals of cap tables and how to model equity, convertibles (SAFEs and convertible notes), options, and exit waterfalls.

The Build a Cap Table from Scratch workshop is one three hour workshop focusing on cap tables, using a series of mini-cases to teach the fundamental concepts on modeling equity, convertibles (SAFEs and convertible notes), and options.

This workshop focuses only on exit waterfalls, using mini-cases to teach the fundamentals behind building an exit waterfall to equity shareholders of venture capital-funded businesses.

If you take either workshop, you can apply the cost of the workshop towards a future masterclass if you want to dive deeper into the topic.

Who this course is for

Many companies offer an L&D or education budget that can cover the cost of this course. Learn more from Maven about how to expense this course. >

What you’ll get out of this workshop

Please note, my experience is deeper in venture capital, and the class will not cover complicated debt structures more common in private equity.


The three hour workshop is structured to cover the core concepts and build a practical example of a cap table that you can use.

Related Class

Cap Table and Exit Waterfall Masterclass

Live masterclass for founders, investors, and lawyers to learn the structures and math for building cap tables and exit waterfalls.

What does the class cover?

Join the masterclass for five 1.5 hour sessions to learn the terms, math, and important insights about how equity, convertible notes, SAFEs, and option pools impact cap tables, dilution, and ownership.

Learn more about the masterclass →


Taylor Davidson, Founder, Foresight

I created the financial models behind Foresight so early-stage entrepreneurs can spend less time on finance and more time on their products. I care about financial modeling because I believe that financial models can help us make critical business decisions even if the models themselves are not “always right”. Financial models can help even the earliest entrepreneurs if we build “minimum viable models” to focus on the decisions that matter most.

More about me
  • Started building models for startups in 2000
  • Started Foresight in 2008, full-time since 2014
  • Have worked with thousands of entrepreneurs and venture funds on financial models
  • Former NYC-based venture capital investor
  • Experience in ecommerce growth and analytics
  • Former private equity analyst, strategy consulting associate
  • MBA in Finance and Accounting
Build an Exit Waterfall from Scratch
$ 329

After you click on the link to book, you'll be redirected to register for the course at Maven, the host of my course.

Your payment is secure

Maven accepts credit cards and debit cards. The transmission of your billing information is encrypted using secure socket layer technology (SSL/TLS). Foresight does not have access to your payment details.

You will receive a receipt and next steps on the course after purchase. Note, you will see Foresight on your payment card or PayPal statement.

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Get help buying. Call (or text, WhatsApp, 1-646-770-0052.