Founder Equity Decoded

Hosted by NADIA OKONKWO

Plain-English ownership, told by the people who learned it the expensive way. New episode every Thursday.

Host Nadia Okonkwo — portrait by Jake Nackos on Unsplash

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Nadia Okonkwo recording an episode — portrait by Jake Nackos on Unsplash

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About the show

Founder Equity Decoded

Hosted by Lumenwave co-founder and president Nadia Okonkwo, Founder Equity Decoded is recorded wherever the week happens to land — a borrowed studio in Lisbon, a kitchen table in Wellington, a co-working room above a bakery in Montreal.

Nadia sits down with operators, lawyers, angels and second-time founders and asks the questions people are too embarrassed to ask out loud. Real numbers, real regrets, and the paperwork nobody warned them about.

Each week we unpack how early teams build an ownership culture that survives growth: cross-border grants, option pools that don't run dry, raising without giving away the company, and exits that actually pay out. 34 minutes, no jargon tax.

Latest episodes

Episode 4

Angel money isn't only for the well-connected, with Tomás Reyes

So glad to get Tomás on the mic. We map out what actually makes someone an accredited investor, and the newer routes ordinary people are using to back early companies. We dig into what Loomcraft Ventures is doing differently, and why changing who invests quietly changes what gets funded.

Listen now

Lumenwave.

FounderEquityDecoded

with

Tomás
Reyesof Loomcraft Ventures

Guest Tomás Reyes — portrait by Korede Adenola on Pexels

EPS.4

Angel money isn't only for the well-connected

Episode 3

Opening a US entity without wrecking your cap table

We work through the decisions founders hit when they expand into the States: entity structure, the legal bits nobody budgets for, hiring, payroll, and of course equity. Three people who have done it the hard way join me for a genuinely useful hour.

Listen now

Lumenwave.

FounderEquityDecoded

with

Ingrid Vos,
Rui Mendesof Halyard Group & Bellrun

Guests Ingrid Vos and Rui Mendes — portrait by Thanh Xuan Nguyen Ly on Pexels

EPS.3

Opening a US entity without wrecking your cap table

Episode 2

How to run a first raise that doesn't cost you the company

Raising is hard and it is also weirdly badly documented. Hana has closed 63 early rounds on both sides of the table, and she is generous with the parts most people keep quiet. We cover cutting weeks off a process and walking in with leverage you didn't know you had.

Listen now

Lumenwave.

FounderEquityDecoded

with

Hana
Sørensenof Northfare Capital

Guest Hana Sørensen — portrait by Foto Sushi on Pexels

EPS.2

A first raise that doesn't cost you the company

Episode 1

Paying advisors in equity without regretting it later, with Ellis Boateng

Ellis has sat on both sides of the advisor agreement, at Founders Union and at Ridgeline Partners. We get into how to find advisors worth the equity, how to size a grant fairly, and the standard framework he leans on. Plus a candid list of the advisory mistakes he keeps seeing.

Listen now

Lumenwave.

FounderEquityDecoded

with

Ellis
Boatengof Founders Union

Guest Ellis Boateng — portrait by Ben Khatry on Pexels

EPS.1

Paying advisors in equity without regretting it

Series B option pool

8,412,760total options

3,196,428unallocated options

14% exercised 41% vested 63% allocated

Offer letter

Grant date Employee name Company name

Ownership shouldn't take a lawyer to read. Set your cap table up this afternoon.

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