Modify and Request Information From Portfolio Companies

What’s new?

Our Portfolio Insights clients can now easily request information from their Portfolio Companies. We’ve created the flexibility to select file types, KPIs, or information about the portfolio companies’ upcoming financings.

How it works

  1. Navigate to Manage RFIs under Settings and select which companies from your portfolio you’d like to make edits to:

    1. Enabled: Will request data from Portfolio Companies
    2. Fiscal Schedule: Control if your request is a standard quarter end, or +1 or +2 month end (e.g. Q2 fiscal schedule of July 30 or August 30)
    3. FND: Ask if Portfolio Company will be raising funds in the next year, if so, by when and how much.
    4. AER: Do you want to send automatic email reminders if the Portfolio Companies did not reply.
    5. Period: Request income statement figures for the last 3 months, 6 months, or 12 months
    6. Requested Files: Request between:

      1. Articles of incorporation and Cap Table (for companies that don’t manage their cap table on Carta)
      2. Financials
      3. Forecast and Board Decks.
    7. Requested KPIs: Select from the list of 40 industry standard KPIs (Users, ARR, Web Traffic, etc). Enable KPIs individually or in industry-specific batches.
  1. Toggle data collection, tailor the documents to be requested, and enable various KPI fields for a more intuitive RFI preparation process

  1. Save preferences and send your next portfolio RFI during your typical request cadence.
  1. Portfolio company upload portals will be customized accordingly, ensuring you’re only requesting exactly what you need from each logo

Suggestions

We recommend limiting KPIs to 3 or 4 to keep portfolio company upload portals from becoming overwhelming. 

Limitations

Custom KPI (i.e. those that don’t exist in our drop down) functionality is scheduled to be available late Q3 2021.

Timing

The configuration page is currently released and enabled for all Portfolio Insights clients.

Questions?

For more information regarding RFI configuration, or portfolio insights, please reach out directly to your portfolio insights account manager or portfolio-kpi@carta.com.

Home Screen Redesign on Mobile

Users with holdings in private companies can now view their holdings details straight from the home screen for easy access.

Who this affects

Shareholders with holdings in private companies.

Supported Platforms

  • iOS & Android

What’s New

With an objective to provide insightful experiences, we’ve redesigned the home screen on the Carta app to display important holding details for each company. Company cards will now present the following information with the ability to view further details when clicked:

  • Total number of options held, number of options vested and exercised 
  • A vesting progress bar comparing the number of vested and exercised options to the total options granted
  • Summary of securities displaying types and quantities for each held

Capital Calls on Mobile

General partners now have the ability to view and track capital calls from the Carta iOS app. Investment firms can now track the progress of on-going and completed calls along with investor details, on the go, straight from the Carta app.

Who this affects

  • Fund administration clients

Supported platforms

  • iOS (Android coming soon)

What's new

Fund Administration clients can now access their capital call details and investor information from the Carta app.

  • The home screen now provides a summary of active capital calls with the ability to view individual call details.
  • Navigating to a capital call allows you to view further call and investor details along with a full investor list which can be filtered by Paid and Unpaid calls.
  • The Fund Details page now also provides a capital summary and the ability to view a list of Active, Drafted, and Completed calls.


Instant KYC for LPs Completing Subscription Documents

Limited Partners completing subscription documents on Carta can now be KYC’ed instantly.


What’s New

If your fund leverages Carta’s KYC/AML service and you have Limited Partners (LPs) completing subscription documents in Carta, these LPs are now instantly KYC’ed on the platform. 

Carta’s new instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.


Limitations

  • For this first release, only individual (as opposed to entity) LPs are KYC’ed. Future releases will support KYC for entity (non-individual) LPs as well. This includes KYC for the LP entity, LP control person, and LP beneficial owners
  • For this first release, only US-based LPs are supported. Future releases will extend support to non-US LPs


How it Works

  1. As an LP completes their subscription documents, individual LPs (for funds that avail of Carta’s KYC/AML service), will now see a dedicated Know Your Customer section. Here, LPs can input the additionally required information for KYC -


  2. Once subscription documents are signed by the LP, the LP is instantly KYC’ed. If the LP passes KYC, this is immediately reflected in Carta and General Partners are notified to countersign -


    Timing: Rolled out to Limited Partners on July 1, 2021


    Audience: Limited Partners, General Partners

ISO 100K Dashboard

Get the transparency you need to manage ISO/NSO splits with the new ISO 100K dashboard in Carta.

Who this affects

All Carta customers can now access the dashboard under Compliance > ISO 100K.

What's new

The 100K rule for ISOs has been a historically opaque concept in Carta - customers and their legal counsel have often found it difficult to understand how the application of the rule results in the specific bifurcation of ISO vs NSO shares in a particular option grant.

The new ISO 100K dashboard brings a new level of transparency to the way in which ISO options are bifurcated according to Carta's automatic application of the 100K rules. For specific transactions and amendments that fall outside the purview of Carta's automatic bifurcation estimates, customers and their legal counsel can request access to the dashboard's grant editor feature, which allows legal administrators to change the ISO/NSO split estimated by Carta.

Last thing to mention: we worked closely with Orrick (one of Carta's law firm partners) to make sure we were solving this problem in a way that allowed our law firm partners to better support our customers. You can read more about that here on Carta's blog.

Timing

Available now to all Carta customers.

Support Partially Realized Investments

This past week we released added granularity to the Investments, Overview and Firm Overview Tracking bars for investments. The in-app tracking bars will now show
  • Total investment count
  • Fully realized investment count
  • Partially realized investment count
  • Unrealized investment count


Timing: Rolled out to funds using our Fund Administration services on May 21, 2021.

Audience: General Partners, CFOs, Investment teams.

Preview and and manage compensation plans

With the new Plans page, you can now craft and manage your compensation plan to meet the needs of a changing workforce. With Plans you can:

  1. Review your active plan or create a new plan.
  2. Edit and preview draft plans.
  3. View your plan history.

Before making modifications to your plan, preview will allow you to see how a change in peer group, band ranges, or location strategy could impact your employees' compensation targets. 


Availability

  • If you are interested in learning more about Carta Total Comp, please reach out to your Carta Customer Success Manager or sign up here.
  • You must be a Carta cap table customer to sign up for Carta Total Comp.

Partners' capital status included in exports

This past week we've added partners' capital status to the partners export. We know keeping tracking this is important for funds and can be a pain to do manually. Our Partners' exports on Carta now included the following information: 
  • Called capital
  • Uncalled capital
  • Percent of capital called
  • Prepaid balance
  • Outstanding balance

These updates apply to both the fund level and 'All Partners' export. We've added the following columns to the partners export.

Where to find: Log in to Carta > Select a fund within your investment firm > Navigate to the Partners tab > Select 'Export partners'


Timing: Rolled out to funds using our Fund Administration services on April 30, 2021.

Audience: General Partners, CFOs, Investment teams.

Make better compensation decisions faster

Carta Total Comp 

Carta cap table customers can now access our benchmarking and planning platform to streamline their compensation processes and compensate with confidence.

What’s new?

Workflow tools built on top of the world’s largest equity data set and powerful HR integrations to help you make better compensation decisions faster. Carta Total Comp customers are now able to access the following compensation benchmarking and planning features:

  • Automated Leveling - Map each of your employees into an area, track and level using Carta’s universal leveling framework.
  • Scorecard - Summarizes employee salary and equity information from your HRIS and cap table to give a holistic overview of your organization’s total compensation.
  • Bands - Automatically generate equity and salary bands for any role by filtering for job area, track and location.  
  • HRIS Integration -  Integrate instantly with any of the most common HRIS systems.
  • Coming Soon - Plan -  Easily build, manage and apply your compensation strategy across your employee base.

Get a pulse on your org through your company Scorecard tab



Benchmark any role in the Bands tab

Availability

  • If you are interested in learning more about Carta Total Comp, please reach out to your Carta Customer Success Manager or sign up here.
  • You must be a Carta cap table customer to sign up for Carta Total Comp.

Additional Resources 

  • Carta Total Comp announcement from our Chief Product Officer, Heidi Johnson. Link to Blog Post.

Fund performance metrics on Carta

We know how important Carta is in helping fund managers manage and track the performance of their funds. This month we've add a host of new features to help fund managers get and understand the metrics they need about their funds. 

Here's whats new:

1. New fund performance page

  • New table view with an option to 'switch to chart view'
  • Added metrics definitions and explainer tool tips
  • Period selector to allow you to easily select ‘end of’ last year, quarter, or month.
  • Traceback for very metric so you can to view the underlying source data
  • New API using Carta General Ledger for all contributions and distributions data.

Example of new Fund Performance page:

Example of traceback of TVPI metric as of 12/31/2020:


2. New Excel export:

We've added a new export on the page that includes all the metrics and details about the underlying data.


3. Support for parallel entities:

We've also added support for parallel entities (or fund families). You will be able to see all the above features at a consolidated level.


Where to find: Log in to Carta > Select a fund within your investment firm > Select the Fund performance tab

Timing: Rolled out to funds using our Fund Administration services on April 16, 2021.

Audience: General Partners, CFOs, Investment teams, Limited Partners.

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