Angel Portfolio Spreadsheet Template: Columns Before You Outgrow Excel

An angel portfolio spreadsheet template is the column list you paste into Excel or Google Sheets — not a software landing page. Searchers who type those five words want company, instrument, close date, cash, cap and discount, fully diluted percentage, next-round trigger, documents, and tax lot on one row per check. The live sibling at angel portfolio tracker is the category query. This is the download. Cake Equity’s July 2026 cap-table guide says most free templates circulating online have four or five columns and lump every security type into one flat list. That is where accuracy problems begin. Excel works until the tab count and conversion events explode.

Nine columns that belong on an angel portfolio spreadsheet template

Cake’s eight columns are for a company cap table (stakeholder, security type, shares, issue date, price, amount paid, issued %, fully diluted %). An angel book is the inverse: you are the stakeholder, the rows are companies. One row per check. Two SAFEs into the same name are two lots.

• Company. Legal name and vehicle — direct, SPV or syndicate, or fund. If you wired through an SPV, the row is the SPV; the underlying company is a linked field.

• Instrument. SAFE (pre-money or post-money), convertible note, priced equity, warrant, or grant. Y Combinator’s US library ships three post-money forms — cap and no discount; discount and no cap; uncapped most-favored-nation — plus an optional pro rata side letter. Log the form you signed.

• Close date. The date the wire left. Cake treats issue date as the field that drives tax treatment.

• Cash. Purchase amount, currency, wired dollars vs. face amount. Y Combinator’s SAFE FAQ: a little less or more can still be valid. Keep both figures and the receipt.

• Cap / discount. Valuation cap, discount rate, MFN yes or no. YC’s User Guide: a 20% discount is a Discount Rate of 80%. Blank is a fact.

• Fully diluted %. The percentage the company last confirmed, with the as-of date. Cake: the most common silent failure once SAFEs are in the mix, and the number investors negotiate on. Do not paste issued-only ownership here.

• Next-round trigger. The event that will close the instrument. YC: a SAFE converts automatically when the company raises a priced round. There is no maturity date.

• Docs. Signed SAFE or stock-purchase agreement, side letter, wire confirmation, last cap-table snapshot, conversion notice. Cake: each line should trace back to a signed legal document.

• Tax lot. Acquisition date, cost basis, holding entity (personal, LLC, trust), and a lot ID. IRS Publication 551 (December 2025): if you can adequately identify the shares sold, use those shares’ basis; if you cannot, the basis is the shares you acquired first.

Cap, discount, and fully diluted % are three fields

Do not merge those three into one “terms” cell. YC’s cap-and-discount SAFE applies either the Post-Money Valuation Cap or the Discount Rate, whichever calculation is most advantageous to the investor. Cake: SAFEs do not convert into a fixed share count. They convert off the next priced round, subject to cap and discount.

The napkin percentage — purchase amount divided by the post-money cap — is post-SAFE and pre-priced-round. YC is explicit that outstanding post-money SAFEs do not dilute one another, and that they are diluted by the new money in the Equity Financing and by the option-pool increase in that financing. Store the inputs; recalc when the notice arrives. Closing the SAFE instead of overwriting it is Raziel’s SAFE note tracking page. A MOIC calculator still needs that cash column.

Next-round trigger, documents, and the tax lot

The trigger column is a type and a date, not a hope. YC’s User Guide: when the company sells preferred stock in a priced round (an Equity Financing), outstanding SAFEs convert automatically and terminate. The holder has no election. A SAFE has no expiration. It terminates when the holder has received stock, cash, or other proceeds — Equity Financing, Liquidity Event, or Dissolution Event, whichever comes first.

Carta is not this workbook. Carta’s help: investors request cap-table access per company; Restricted shows personal holdings plus FMV, then Basic, Advanced, or Full. Restricted is your line, not the fully diluted stack. Signed’s May 2026 AngelList note: the Portfolio page has an Export CSV control, and valuation changes on AngelList are “pretty hidden and mysterious.” That CSV is a feed. Do not overwrite close date with the export date.

Tax lot is why two checks into one company are two rows. Publication 551: keep accurate records of all items that affect basis. A follow-on at a different price is a new lot. Do not invent a second cost basis, or FIFO will sell the wrong check later.

When tab count and conversions outgrow Excel

Cake’s cutoff is operational. A spreadsheet is the right tool for the first handful of stakeholders. Two of their switch triggers matter on the investor side: more than three SAFEs with different caps or discounts, and a table more than 60 days out of date. The failure looks the same in an angel book: a conversion tab per company, then a follow-on tab, then a tax-lot tab. Pinion’s homepage: Excel was never built for this — a new spreadsheet every quarter, manual valuations, no way to track investor updates. Their onboarding still starts with “upload your spreadsheet.” AngelHub claims 60–70% of angels still use spreadsheets — vendor marketing, not a survey.

A workbook can hold the nine columns. It fails when several names convert in the same month, when fully diluted percentage has to be rebuilt from stacked SAFEs, or when a tender splits one lot. Raziel’s angel-investors use case is the dashboard that book can live on — startups next to real estate, crypto, and public equities, with IRR, MOIC, cap tables, valuations, and AI document ingest. Keep the PDFs on the row. Post the wire on the day it left. Excel is fine until the tabs name events.