Introducing Agreement Execution for issuing new interests

What's new?

You can now generate fully executed legal agreements when issuing interests with Carta LLC.

What's important or valuable about this change?

With the new Agreement Execution functionality, you can simplify the end-to-end issuance workflow, increase efficiency, and auditability:

  • Set up interest agreement templates and automatically populate them with data from Carta, such as each interest holder's information, interest type, number of units, and more
  • Send these interest agreements to the holder to collect their signature directly on the PDF
  • Save the fully executed agreement in Carta with the interest so you and the interest holder can access it for audits, personal finance, or tax use cases

What do I need to do?

To get started with Agreement Execution, you will need to first work with our team to set up a new interest agreement template. Get started by navigating to Documents > Templates.

 

Request a new template by clicking on the button on this page.

You need to provide us with the following items to set up a new template:

  • An interest agreement template document in .docx format

    • Include a line for where the holder should sign
    • Include a pre-populated company signature, if applicable (Carta does not populate any signatures besides that of the holder)
  • A list of fields for Carta to auto-populate in the document

    • Today, we can populate any issuance and holder data and certain data relevant to the account and entity

Once your template has been set up, Carta Staff will notify you and you can use it to issue new interests. Watch our demo video to learn more.

How do I learn more or get help?

For more information on interest agreement templates, please read our support article.

Customize cap table views

What's new?

Admins now have the ability to sort the interest type columns in cap table views.

What's important or valuable about this change?

You have one more option to customize the cap table view to your preferences. You can now sort the interest type columns in the cap table views to reflect how you want to view and export data.

What do I need to do?

On the cap table views page, click on Columns. You can show, hide, or rearrange the interest type columns by dragging and dropping them in the order you want. Within each interest type, you can also show or hide specific columns.

Any changes you make to the interest type columns in cap table views will also be reflected in the export.

How do I learn more or get help?

For more information, visit our support site.

Data room usability enhancements

What's new?

Admins can now download data rooms, update access permissions, and view a complete activity log to see who is viewing files stored in your data rooms.

What's important or valuable about this change?

  • Download data rooms. You can now download each data room as a zip file and maintain the folder and file structure, allowing you to share these files with anyone who doesn’t have access to Carta.
  • Update access permissions. Review and update who has access to a data room. You can easily remove access from anyone you previously invited to a data room with, whether they accepted the invite or not.
  • View an activity log. See a history for each data room, folder, and file,  including views and downloads. This is especially useful if you have shared a data room for due diligence with potential investors because you can gauge their interest.

What do I need to do?

To download a data room, navigate to the menu on the right side of the data room and click Download

To update access permissions, navigate to Manage data room > Manage sharing. You can see who the data room was previously shared with and can remove their access.

To view the activity log, navigate to the menu on the right side of the data room and click View activity

This can also be done at the folder or file level, showing a filtered list depending on where the activity log is accessed from.

How do I learn more or get help?

For more information, visit our support site.

Introducing estimated values for equity

What's new?

You can now enable estimated values for interests. Carta can automatically calculate and provide estimates for vested, unvested, and outstanding values as well as threshold gain or loss for profits interests, and MOIC.

What's important or valuable about this change?

You can demonstrate the value of equity to interest holders, including employees, investors, board members, and advisors. They can see estimated values for their interests in their Carta portfolio.

There are multiple values available for you to choose from and each value includes information on how it is being calculated, which improves transparency.

You have the flexibility to choose whether you want to calculate estimated values at all, make the values visible to Admins only or to Admins and interest holders.

What do I need to do?

Equity value estimates are based on the latest per-unit value. A per-unit value can come from a Carta 409A valuation or company Admins can manually input values obtained from other sources, such as a board determination or a recent fundraising round.

Add estimated value while creating a new Interest Type

Complete the flow until you reach the section Estimated value.

Click on the drop-down Visible To to select who should be able to view the estimates. Note that you have the ability to determine whether only company administrators will have access to the estimates or if holders will also be able to see them.

Add estimated value while editing an Interest Type

Under Interests and interest types, click on the interest type and on View interest type details.

Click on Edit on the right side of the Estimated values section.

Click on the drop-down Visible To to select who should be able to view the estimates.

Estimated values will be visible to interest holders in their Carta portfolio.

How do I learn more or get help?

For more information, visit our support site.

Limited Partner Mobile Experience

What's new?

LPs can now manage their investments, all from their mobile device.

What’s important or valuable about this change?

Access your investments, now on the go.

LPs can manage their fund investments and personal investments from anywhere, at any time.

What do I need to do?

Download the Carta mobile application, suited for iOS and Android devices, from your app store. Then login using the same information used to login to your LP Portal on the web application. Once on the home screen, select the fund investment or personal investment you’d like to view: 

If a fund investment is selected, you’ll be able to view key investment details like called capital and net asset value. Plus, you can view, download, and send all fund investment documents like partner capital account statements (PCAPs) and  K-1s. 

If a personal investment is selected, you’ll be able to view key ownership information like share amount and issue date. 

For fund investments, once on Investment Details, scroll to access your fund documents. Select View all  to view, search, and filter all fund documents. Use the search bar at the top to search by document name. Or select Filter to filter by document type like PCAPs, capital calls, or tax. 

Once your document is selected, select the export button to markup, send, or download.


How do I learn more or get help?

Have additional questions about Carta’s LP mobile experience? Reach out to your account manager or request a demo today. 


Interest holder addresses

What's new?

You can now keep a record of interest holder addresses.

What's important or valuable about this change?

Gain a single source of truth with all interest holder information centralized in Carta. Admins can now input a physical address when adding a new interest holder or editing an existing one and this address can be viewed in the interest holder ledger and in the interest details.

What do I need to do?

When issuing interests to new holders, Admins can now bulk upload addresses in the interest holder spreadsheet. You will see different columns for different address fields. Upon issuing, the address will be saved on the new interest holder.

When adding a new interest holder or editing an existing one, Admins can record the address in the new Address section. Inputting the Country/Region will make the other address fields appear.

How do I learn more or get help?

For more information on managing interest holders, visit our support site.

Exercising options and warrants

What's new?

We’ve simplified Carta’s UI to help Admins exercise multiple options or warrants in one streamlined workflow.

What's important or valuable about this change?

When interest holders elect to exercise their outstanding options and warrants, you can now enter the exercises all together in Carta to reflect the transactions on the cap table. You can also issue new interests to the holders and keep a record of the transaction in the interest history.

What do I need to do?

In the interests ledger, navigate to the interests you want to exercise in the left sidebar. 

Select one, multiple or all interests.

Navigate to the Action button and select Exercise.

The new UI will walk you through exercising the interests, including:

  • Reviewing the destination interest type that this interest will settle into once it is exercised
  • Specifying the details of the interest being exercised, including the number of units to exercise and the price per unit
  • Specifying the new interest details, including the invested capital amount, issue price, and any applicable custom fields
  • Reviewing everything and confirming the exercise

After you confirm, the interests resulting from the exercise will be issued, affected interests will be updated, and cap table reports will reflect the exercises. You can also view the transaction in the interest history.

How do I learn more or get help?

For more information, visit our support site.

Introducing the ability to adjust vesting end dates

What's new?

You can now adjust the time-based vesting end dates in custom vesting plan templates.

What's important or valuable about this change?

When creating a new custom vesting plan template, you have the flexibility to customize whether vesting occurs on the same day of the month as the start date (no adjustment), on the first day of the month, or on the last day of the month. 

With this new capability, you can customize time-based vesting schedules to set up more vesting clauses and align vesting dates so interests vest on the same day.

What do I need to do?

When creating a new custom vesting plan template, you can find the end date adjustment option in the Time-based vesting section. You can choose between no adjustment, last day of month, or first day of month.

How do I learn more or get help?

For more information on managing vesting templates, please visit our support site.

New search bar in the Document Library

What's new?

You can now search for documents in the Document Library.

What's important or valuable about this change?

The new search bar allows you to quickly search the library for documents you’ve uploaded, such as acceptance agreements and K-1s. This is especially useful if you have a large volume of documents saved in the library. 

What do I need to do?

The search bar has been automatically added to your Document Library:

You can also search for documents when adding them to an interest or interest type: 

How do I learn more or get help?

For more information on document management, please visit our support site.

Securely store and share documents in Data Rooms

We’ve introduced a few updates to Data Rooms to provide you with a secure and streamlined way to upload and share documents from within Carta.

Centralize document storage and sharing workflows in Carta

With the new sharing capability, you can:

  • Centralize your document storage and sharing in Carta
  • Streamline the investor due diligence experience during fundraising by inviting them to view documents in a dedicated fundraising Data Room
  • Provide external parties secure access to documents during annual audits or provide quarterly updates to interest holders

Get started

Admins can manage Data Rooms by navigating to the Documents tab. 

Click “Create data room.”

Name your Data Room. Additional settings that will allow you to watermark PDF files and require NDAs are coming soon.

Upload documents into the Data Room and organize them in folders.

You can share data rooms by clicking the Manage data rooms button and then Manage sharing.

Share Data Rooms  with others using their email address. You can also see who you’ve already shared the Data Room with.

People you share Data Rooms with will receive an email from Carta inviting them to log-in to their Carta account or create an account to view the Data Room.

 For more information on Data Rooms, please visit our support site.

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