Equity management for private companies has historically been a mess of spreadsheets, lawyer markup, and reconciliation errors that compound silently until a fundraising round forces everyone to discover that the cap table reality differs from the cap table on file. Capdesk was founded in Copenhagen and grew up in London from 2015, building equity management software for private companies — a single source of truth for share allocations, option grants, vesting schedules, and shareholder communications. The product targets the gap between an Excel spreadsheet and a full-blown share registry: too small for the latter, too important to entrust to the former. Capdesk has built a strong client base across UK and European startups and scaleups, becoming one of the more trusted equity management platforms in Europe. The company was acquired by US-based Carta in 2023, consolidating the European equity management market under the umbrella of one of its largest global players. The acquisition reflects a broader pattern in private market infrastructure — the platforms that manage equity, fundraising, and investor relations are consolidating around a small number of comprehensive solutions. For European companies that built on Capdesk, the Carta acquisition brings them into a global platform with broader functionality at the cost of the local independence that some clients valued.