What we don’t do yet
A record should say what it leaves out. This is what Tenacap does not do today, what to do instead, and which gaps we are closing. One item is a promise, not a gap.
What we will never do
Run a secondary market, act as fund administrator, or contact your shareholders on our own. That is one of our five published promises, and it is in the terms, not only the marketing. A cap table that also sells your shares has a reason to want them to move. When a holder sells to another holder, record the transfer in Tenacap at the agreed price. The sale itself happens between them.
What we do not do yet
Take payment for an option exercise
You record the exercise in Tenacap; the strike price moves outside it. A founder asked for an exercise flow with card payment attached. The answer for now is no, and if it ever comes it will be a bank connection, not Stripe. Not planned this quarter.
Produce a 409A valuation
We record valuations, we do not perform them. Get one from a 409A provider, or in your first year have the board set fair market value by resolution, then enter it on the Compliance page and it prices your grants from there. A referral path to a provider is being worked out. If money changes hands in that relationship, this page will say so.
Onboard an existing fund or SPV
The fund pages track what a vehicle holds across companies. Bringing in a fund that already exists, with its history, is not something we do. Parked until a GP or SPV asks.
Connect to Google Sheets
There is no live link to a sheet. Download it as CSV or Excel and upload that; the import maps your columns to ours. Nothing on the roadmap for a live connection.
Put everything in one export
The export archive holds your ledger, holdings and stakeholders, with a checksum manifest. It does not hold your uploaded documents, signatures, valuations, board approvals or 83(b) records. Each downloads from its own page, one at a time. This is the gap we care most about, because a company winding down is the one least able to click through a product it is about to leave. Planned, and a prerequisite for the account close-out flow.
Form, bank or file for you
We are software of record. We do not incorporate your company, hold money, or file with a regulator. The one exception under consideration is transmitting an 83(b) election. Today the election PDF is a draft for your advisor, and filing it is the holder’s job.
Serve companies outside the US
US entities, including LLCs. Canada was looked at and concluded not yet; revisited when a Canadian company asks.
How fast things change
We find most of our own bugs by using the product, and what our testers report is fixed the same week. If what you need is not on this page, write to support@tenacap.com.