When preparing financial rounds, investors usually ask for cap tables (short version for “capitalization table”). Basically, this is a list or spreadsheet with an overview of all shareholders who have a participation on your company. Sounds easy? But in fact it isn’t, especially in later financing rounds. Why? Well, in the easiest case is the simple share distribution to founders and investors round by round, but in practice the deal structures are more complex. Typically, due to special rights and agreements, the allocation of equity shares deviates from voting rights and from money proceeds distributed after a cash event like an exit (e.g. a trade sale or an IPO). Very often it is complex enough to hire (and pay) external consultants and lawyers to reproduce the contractually fixed distribution and it is a frequent discussion point in due diligence processes on that way. Thus, it is worth paying some attention right from the beginning.
12 min read
A step by step guide to build a cap table
By Eric Weber on 06 September 2021
Topics: Startup Tips Learnings
10 min read
International Venture Capital and Forced Exits: Recapping HHL SpinLab Investors Day 4
By Eric Weber on 18 February 2020
About 200 venture capitalists, family offices and business angels mingled with our corporate partners and startups during the fourth HHL SpinLab Investors Day.
With networking sessions, inspiring speeches and panels accompanied by top-notch startup pitches, the likeminded community enjoyed the event. Focusing on the topics “Investing with international venture capitals” and “How to force exits?” both investors and founders were able to discuss important aspects of the same topics from their perspectives.
Topics: Learnings
8 min read
Why the German Venture Capital gap is not (only) in later stage
By Eric Weber on 25 July 2019
In the last years we saw many speeches by top German politicians of different parties who agreed that Germany performs badly compared to the United States, Israel or China when it comes to Venture Capital, due to the identified lack of Later Stage investments.
Topics: Learnings
3 min read
Let’s talk about the third HHL SpinLab Investors Day
By Stefanie Wettmann on 20 June 2019
The first HHL SpinLab Investors Day of the year took place at a location which probably provides the best view over Leipzig - at the Felix, just across from Augustusplatz - Startups and Investors met and engaged in several activities like Pitches and Speed Dating. The event was organized by the HHL and the SpinLab. Central Topics of this years Investor Day were Team Due Diligence and Brand Management.
Topics: Learnings
6 min read
Team Due Diligence and Venture Capital Brand Building – Key take aways from HHL SpinLab Investors Day
By Eric Weber on 13 June 2019
The HHL SpinLab Investors Day in June 2019 took place at the location with the best view over Leipzig! At the Felix - just across Augustusplatz – 170 investors, partners and startups met and engaged in several activities like keynotes and panels on special venture capital (VC) know-how as well as startup pitches and speed dating. Central topics of this year’s Investor Day were Team Due Diligence and Brand Management as VC.
Topics: Learnings
9 min read
How to pitch a startup: Breaking down one of our best startup pitches
By Shawn Segundo on 03 June 2019
How to pitch a startup is a key skill for all founders, and something all founders need to practice constantly. On April 18th, 2018 we hosted our first ever HHL SpinLab Investors Day in the Leipzig Zoo.
Topics: Learnings
6 min read
Advisory boards in German tech-based startups
By Eric Weber on 03 March 2019
Many startups all over the world have advisory boards for different reasons. However, research and practice-oriented studies on advisory boards can be rarely found. This fact motivated me to look closer at advisory boards in startups and to publish the following findings of my research.
Topics: Learnings
7 min read
What do you think is the number one reason that startups succeed?
By Shawn Segundo on 01 March 2019
Here in the SpinLab, you can imagine that we run into a lot of challenges that startups are having. These problems can have very extensive reaches and range from financing issues to overall construction of a basic business plan.
Topics: Learnings
9 min read
Startup Lessons Learned: 8 learnings for future entrepreneurs
By Eric Weber on 05 October 2018
Three and a half years ago we brought SpinLab to life, and just recently we were awarded as one of the top 3 German startup accelerators in an independent study conducted by the Cologne University of Applied Sciences (RFH).
Other studies mention us as lighthouse and also we have been selected as one of the top 10 German business supporters by the German Council of European Enterprise Awards committee.

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