American record label founded by Phil Walden, Alan Walden, and Frank Fenter.

First Incarnation 1969-1979
The first incarnation lasted from 1969 until 1979 when the company went out of business. During this period, distribution was handled by Atlantic Records, then Warner Bros and finally PhonoDisc (from 1977). Phonodisc releases can be identified by a CPN catalogue number prefix on many of them.

In the UK and Europe Capricorn was distributed by Polydor from June 1974.

Second Incarnation 1991-2000
The Waldens reformed the label for a second incarnation in the early 90s. The label was the home to such acts as 311 and Cake before shutting down again in 2000. Distribution during the second incarnation was handled by Warner Bros., then RED Distribution and finally back to PolyGram.

May 7, 1996--Mercury Records formed a joint venture with Capricorn Records to market, promote, manufacture and distribute records.

After Capricorn
In December of 2000, Phil Walden sold the label's assets to Volcano (2). Because the Waldens had agreed not to use the Capricorn name for at least 5 years, they formed Velocette Records.