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Carta makes its third deal with Capdesk purchase

Illustration of a handshake forming part of the Union Jack.

Illustration: Shoshana Gordon/Axios

Cap table management firm Carta has acquired U.K. competitor Capdesk, marking the San Francisco-based company's third acquisition this summer.

Why it matters: Carta's deal spree follows the growth of the European venture capital ecosystem and shows that the company is doubling down on international expansion this year.

Of note: Carta, which manages employee stock options and comp-related securities, is largely U.S. focused.

  • Earlier this summer, it bought India-based ZenEquity and U.K.-based Vauban.
  • "International expansion has been a big focus for Carta this year," Carta CEO Henry Ward wrote in an email. "If all equity internationally is captured on the same platform, then we can connect investors in Singapore to companies in the U.K. and employees in the U.S.,"
  • Financial terms of Carta's acquisitions were not disclosed.

Context: The Capdesk acquisition allows Carta to expand more rapidly throughout Europe, which has become a popular VC destination. Roughly 10 years ago, startups on the continent took 13% of funding. In 2021, that figure was about 18% ($116 billion), per Crunchbase.

Details: Founded in 2015, Capdesk has raised about $13.6 million in funding from investors including Fidelity International Strategic Ventures. The company had been in talks to raise a Series B when it decided to sell to Carta.

  • Capdesk says it doubled its revenue in the last 12 months, and counts and Gousto among its clients.
  • Carta currently has about 2,000 employees. The acquisition adds roughly 70 to that total. 
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