Deal Documents on Carta

Fund managers are flooded with troves of documents for every investment their fund's make. These documents house vital terms that need to be quickly referenced during deal negotiations and potential exits to answer questions like- Who has blocking rights? Keeping these documents organized and easily accessible is also key to running a stress free audit that institutional LPs can have confidence in. 

What’s New 

For our early access group, funds using the Carta General Ledger can now see their deal documents directly on their realtime SOI. For each portfolio company, easily access documents by asset including both new investments and the supporting documentation for subsequent valuation updates. 

How it works

1. Work with the Carta team to capture all deal documents

2. Click through any asset on the realtime SOI

3. See all associated deal documents and valuation support

4. View or download the actual documents to verify any needed terms. 

5. Have your Carta Fund Administrator grant your auditor access to the Carta General Ledger so they can access any documentation/support the same way.


Stay tuned as we roll this out to a bigger audience and introduce more tools to make keeping track of deal terms across a portfolio even easier. Reach out to your account manager if you would like to be considered for early access. 


Timing: Rolled out to Carta Fund Administration early access clients April 2021

Audience: CFO'sFund Managers, AuditorsGeneral Partners


Automated partner matching for Schedule K-1 uploads

Sending K-1s to the right Limited Partners can be a manual, error-prone process. The new K-1 uploader helps ensure that every tax document goes to the right LP. When you upload your K-1s into Carta, our system will automatically match or suggest matches for LPs based upon name and tax ID.

Who this affects 

LP Portal customers, Fund Admin customers

What’s new

We have released a new tool for LP Portal customers to easily upload Schedule K-1 tax documents. This is the same tool used by Carta’s internal fund administrators.

The tool scans each K-1 to look for partner names and tax IDs, and compares them to the names and tax IDs we have on file.

If a K-1 matches with exactly one partner, the tool will automatically assign it to that partner.

If the tool is unable to definitively assign a document to a partner, it will suggest potential matches for user review.

To access the K-1 uploader, visit the Partners tab. Under Documents, select Upload documents and choose Schedule K-1.


Timing: This feature was released March 3, 2021

New Equity Reporting Page

Starting 3/22, clicking on the Reporting from the Capitalization dropdown will take you to the new Equity Reporting page. 

The new page contains all the equity reports you're familiar with along with significant improvements to help you access data more quickly and in the manner that you need. You'll notice:

  • Custom reporting - set filter criteria and add, edit, and remove data columns. Save these custom reporting templates for future use.
  • Preview of securities ledger-based reports
  • Search to quickly see standard Carta-provided reports as well as your custom reports


You'll be able to switch back to the classic reporting experience via the blue banner at the top of the new Equity Reporting page until 4/5/21. 


For questions or comments, please email out to reports-feedback@carta.com

Biometrics Login on Mobile

To provide safe and easy access to our mobile users, we are introducing biometrics login on the Carta iOS and Android apps.

This update will make it easy for users to log in to the Carta app through the use of Touch ID or Face ID on supported iOS devices, and Facial or Fingerprint recognition on supported Android devices.


Note: Only biometrics login for a single account is supported at this time.

Fund Administration Experience on Mobile

Carta Fund Administration clients can now access both company investments and fund overview information on the Carta iOS and Android apps. This will help investors get information on the go.

Who this affects

Fund administration clients 

What’s new

Fund administration clients can now view both company investments and an overview of their fund entities on Carta.  

  • General partners can view and search through the company investments
  • The new fund overview page provides a summary into the fund investments and also the top five investments, which can be filtered based on Gross IRR, Cost, Value, Gain/Loss, and Multiple.


New stakeholder address management features for Carta admins

Company administrators can now use the stakeholder address history feature to track multiple, effectively-dated addresses per stakeholder as they move from location to location. Additionally, we've also improved the experience around managing and viewing addresses in Carta for stakeholders based outside of the United States.

Who this affects:

Company administrators responsible for managing stakeholder information in Carta

What’s new:

  • Multiple, effectively-dated addresses per stakeholder. Companies can now reflect a timeline or history of addresses for a stakeholder as they move from location to location
  • Extra structure for non-US addresses. For stakeholders based outside of the US, companies can now track and view stakeholder address information at the country, country region (i.e. state/province/county/etc.), and city level
  • Integration with Carta's tax system. When an option exercise occurs, Carta will estimate tax withholding amounts using multiple tax jurisdictions if the stakeholder lived in more than one location during the vesting period

Track stakeholder address history as they move from location to location:

Old form for adding a non-US stakeholder address:

New form for adding a non-US stakeholder address:


Timing:

All companies will have access to these new features by Wednesday, February 3rd

Resources:

Tax mobility feature available to Carta admins

For company administrators using the new "Tax rules" page in Carta, they can now choose to enable the tax mobility feature for their company. If tax mobility is turned on, Carta will use a stakeholder's address history when estimating taxes for withholding purposes.

Who this affects:

Company administrators with access to the "Tax rules" page in Carta

What’s new:

  • Enable tax mobility for more accurate tax withholding estimates. Companies can turn the tax mobility feature on under Compliance > Tax rules. If tax mobility is enabled, Carta will look at a stakeholder's full address history when estimating applicable taxes for a withholding event (e.g. NSO option exercise, RSU settlement).

If you don't already have access to the "Tax rules" page in Carta, reach out to your account manager to request access.

Navigate to Compliance > Tax rules to find the tax mobility feature:

Timing:

All companies with access to the "Tax rules" page will have access to the tax mobility feature by Wednesday, February 3rd

Resources:

Carta HRIS Integrations now available to Carta admins

Carta integrations to HRIS (Human Resources Information System) Providers are now available to all users with HR Administrator or above Carta access. The HRIS Integrations we have today are one-way data synchs from either BambooHR, Namely, or Workday into Carta.

Who this affects:

HR Admins, Company Editors, and Legal Admins for all companies

What’s New:

Carta HRIS integrations are now available to users with HR Administrator, Company Editor, and Legal Administrator access. Carta HRIS integrations can:

  • Flag Terminated Employees. Employee terminations made in the HRIS appear as pending termination events in Carta
  • Flag Existing Stakeholder Updates. Employee profile updates made in the HRIS will appear as pending stakeholder profile updates in Carta

Carta HRIS integrations functionality can be enabled via the Company > Settings > Integrations page. The data pulled by the HRIS integrations is then shown in the Stakeholders > Stakeholder Updates page where, you can find:

1. Pending HRIS employee profile updates for stakeholder profiles that already exist in Carta



2. Pending terminations for employees who were terminated in the HRIS but not in Carta



Learn more about setting up each HRIS integration here:

Lastly, for Enterprise companies, Carta also supports flat file integrations with HRIS Providers that support automatic report uploads via SFTP. Contact your Carta Account Manager if you want access to the flat file integrations feature.

Limited Partner Onboarding flow

Limited partners now confirm that their information is accurate when viewing new investments on Carta. This will help ensure accurate information for tax season.

Who this affects

Limited partners with fund investments on Carta and funds using Carta's fund admin and LP portal products

What's new

Limited partners can now review and update their information in the onboarding flow for their fund investment. 

  • Limited partners can confirm or update their address information
  • If a new address is added, they can use that for all of their fund investments

Timing

This was released for Limited Partners on January 14, 2021

Limited Partner Settings

The new Limited Partner Settings page allows Limited Partners to control their information across fund investments on Carta.

Who this affects

Limited partners with investments into funds on Carta.

What's new

Limited Partners can now manage and share their information across fund investments. Previously, Limited Partners had to contact their fund admin or the Carta support team to update their information. Now they can update their address and other information used for taxes and distributions in Settings.

  • Limited Partners can choose to use an address for individual fund investments or apply to all investments
  • When updating an address, a Limited Partner can choose to make that their “default” address to be used for any new investments added to Carta.
  • Partners investing through multiple entities can swap between entities and assign the correct information to each fund investment.


Timing

This went live to all Limited Partners on January 6, 2021

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