You were hired to catch M&A deal-breakers. Not to rebuild the target's cap table from scratch.
Upload the target's raw data room. Vest reconstructs the equity hierarchy, flags vesting conflicts, and cites every finding to the source document. Done in hours, not weeks.
Book a DD WalkthroughGap Report Ready
Grant Letters Q2 2022: vesting date mismatch on 3 grants.
Vesting date mismatch on 3 grants, cited to source.
The Problem: The Numbers Don't Add Up.
You get access to the target's data room. Inside: 127 scattered PDFs in no particular order. The plan, the grant letters, board approvals, the equity ledger. None of it cross-referenced. None of it reconciled.
The target sends you an Excel cap table their lawyer built 18 months ago. The numbers do not tie out. The Excel does not match the equity ledger. The ledger does not match the grant letters. The formulas are broken.
Closing is in three weeks. The ESOP review is supposed to take two. Instead of assessing legal risk and protecting the buyer, your team is playing detective at 2 AM, rebuilding a chaotic waterfall from scratch, terrified that one missing spreadsheet is going to blow up the deal.
This is not a gap in the seller's process. It is how equity has always been managed.
Your firm's best legal talent, doing data entry.
How Vest Works
For decades, the only way to reconstruct a cap table from a data room was brute force: reading every SPA, grant letter, and ledger, and typing it into Excel. It was painful, but it was the only way to be certain. What changed? AI can now do the reading. Not approximately. Accurately enough to build from. Vest does the grunt work. You keep the certainty.
Upload the data room as-is. Vest reads the documents, reconstructs the equity structure, and delivers a verified picture with every gap flagged and cited.
Any Data Room, Any Format
PDF, Excel, scanned documents. No setup required on the seller's side. Upload whatever the data room contains and Vest processes it directly. No dependency on the target's systems.
Equity Hierarchy Reconstruction
Vest rebuilds the full cap table (founders, investors, option holders) from the signed source documents themselves. Not from a spreadsheet someone provided. From the legal record.
Gap Detection with Citations
Every discrepancy is flagged with a severity score and a direct citation: which document, which clause, what the conflict is. Your team starts from findings, not from raw PDFs.
Jurisdiction-Native Compliance
Vest understands the compliance rules that govern equity grants: tax track eligibility, vesting validity, plan limits, and approval chains. It flags what is at risk before it becomes a closing issue.
Built for Lawyers
We Don't Replace Your Judgment. We Give You the Map.
You cannot rely on a system that hands you a rebuilt cap table and asks you to trust it. You need the confidence to stand behind your findings.
That is why Vest operates as an audit trail. Every discrepancy, missing board resolution, and vesting conflict is flagged with a direct citation to the exact clause in the source document. You do not trust the output blindly. You verify the citations.
We do the work of finding the needle in the haystack. You decide what to do with it.
The only equity platform that builds from source documents. No data entry, no dependency on the seller.
Case Study
Revelator x Warner Music Group
2 Weeks
Standard ESOP DD timeline
Less than 1 Working Day
With Vest
Revelator had been on Vest for 8 months before Warner Music acquired them. The data was already clean. Reconciliation was continuous, not a crisis. When DD started, it was already done.
"There is no comparable product in the world that knows how to do due diligence on options like this."
Andrew Fine, Founder, Line Consulting
Common Questions
Answered.
Does the target company need to be a Vest customer?
What file formats does Vest accept?
What does the output look like?
How long does a full ESOP review take?
Your next ESOP review should take hours, not weeks.
See exactly how Vest turns a raw data room into a verified equity report. Live walkthrough on a real data room, gap findings included.