It’s now easier than ever for Limited Partners on Carta to navigate the LP Portal. With our updated navigation system, all users with a fund investment on Carta will see a new sidebar to navigate their investments. Both companies and funds are visible and easy to access.

We’ve also updated the experience for Limited Partners with multiple investing entities to easily understand their investments into a single fund.

For Limited Partners with access to fund performance for their funds, we’ve upgraded this experience to show TVPI, RVPI, and DPI in addition to IRR.

If you are a user who manages an investment firm, we’ve released a new process to accept securities into your account.

When a company issues a security to a fund or trust that is not yet on Carta, the user is prompted to create a new fund or trust and place it in the correct account. In the past, there was a single page that presented the investor with options of how to proceed. On this prior page, investors would often accidentally create a new entity or incorrectly accept the security into an existing entity.

Today, we released a step-by-step walkthrough that guides the user to create the correct entity and place it into the correct account. For investors new to Carta, this will reduce confusion and mishaps. For long time users, this adds clarity to a crucial step in the acceptance process that they have done many times before.

We’re releasing some much-needed improvements to LLC equity reporting. This is a continuation of our team recently made some small but impactful improvements to equity reporting and terminology for LLC companies issuing PIUs (Profits Interests) and/or CBUs (Cash Bonus Units):

Ledger Report by Type report now contains Base Value and Threshold Value for PIUs

The PIU Ledger tab of the Ledger Report by Type report now contains columns for Base Value and Threshold Value. These values can be found on the PIU Ledger tab to the right of the stakeholder details columns.

When modifying PIUs, Cash Paid field has been renamed Base Value

We’ve updated our terminology from Cash Paid to Base Value to better reflect the function of this field and for consistency across the platform. To view this change, navigate to Securities > Equity awards, select Profits Interests as the equity type, and select Modify profits interest from the V-dropdown menu on the right hand side of the screen. You’ll see the updated field in the “Transaction value” section:

Securities Ledger by Type and Class report now contains a ledger for CBUs

For companies issuing CBUs (Cash Bonus Units), a dedicated CBU Ledger has been added to the Securities Ledger by Type and Class report.

We’ve released a new feature to our scenario modeling tool that let’s you download the waterfall analysis into an excel spreadsheet or a PDF report.

To download an excel spreadsheet or PDF version of the waterfall analysis, navigate to the Capitalization drop down menu, select Scenario modeling and go to the Waterfall tab.

Then select view results to see the waterfall analysis. Here you will see options to export the analysis in the upper right hand corner.

If you are an Investor, you also have access to the new scenario modeling export feature. Exporting a waterfall analysis for your portfolio comapnies can be done here:

We’re enhancing the Carta experience on iOS by introducing Dark Mode. Dark Mode gives Carta a sleek new look that’s easier on the eyes in low-light environments.

How to Enable Dark Mode on iOS:

For iOS 13, enable dark mode by going to Settings > Display & Brightness > Appearance: Dark

We’re releasing an update to the iOS app to support NSO option exercises!

To begin, you will need:

• An NSO option grant
• To be a US resident
• To link a bank account for ACH-based payments

Once you’ve installed the latest version of the app, head to the option grant that you intend to exercise. If exercising is available, you can click on the “Exercise” button to begin.

After you submit the exercise request, the issuing company will approve the exercise request, which will initiate the funds transfer from your bank account to the company bank account. Lastly, the resulting certificate will be created, signed by the officers, then sent to you to accept. You’ll receive email updates from us as your option exercise progresses.

Don’t have the app yet? Get it Now!

Carta partners with fund managers to provide a great Limited Partner experience. Today, we released an update that makes LP fund commitments easier to navigate and understand.

Our previous experience spread information about fund commitments across several pages. Now, we’ve made key information like commitment amount and vintage year available on a single overview page.

We have also seen that many LPs struggle to find important documents, so we’ve brought recent documents onto the the fund commitment screen.

We’re excited to continue building a better LP experience. If you have any questions or feedback, please let us know at investorservices@carta.com

We’re releasing an update to the Android app to support ISO option exercises!

To begin, you will need:

• An ISO option grant
• To be a US resident
• To link a bank account for ACH-based payments

Once you’ve installed the latest version of the app, head to the option grant that you intend to exercise. If exercising is available, you can click on the “Exercise” button to begin.

Confirm that you’re currently a US resident to help the platform guide you through your potential taxes correctly. Before exercising, it is recommended that you consult your personal financial advisor or tax professional to make sure exercising is right for you.

Once you confirm that you’re a US resident, you’ll be able to:

• Choose the number of option grants you want to exercise
• Choose the bank account that you want to pay with
• Ensure your portfolio profile is up to date

Once you’ve filled out all exercised details, you’re now ready to exercise. Before clicking “Exercise”, ensure that you read the terms of the exercise, review all linked documents, and agree to the withdrawal of funds to pay for the exercise.

After you submit the exercise request, the issuing company will approve the exercise request, which will initiate the funds transfer from your bank account to the company bank account. Lastly, the resulting certificate will be created, signed by the officers, then sent to you to accept. You’ll receive email updates from us as your option exercise progresses.
Don’t have the app yet? Get it now!

If you are an equity administrator who needs to keep stakeholder data 100% accurate and up-to-date, we’ve released a new feature that allows you to update email addresses, payroll IDs, employee IDs, and other fields on Carta for more than 1 stakeholder at a time. Maintaining accurate stakeholder data is critical for a number of reasons:

• Employee & Payroll ID: A stakeholder’s employee and payroll ID serve as unique identifiers for you to easily run HRIS and Payroll reports for your company.
• Addresses: Stakeholder addresses are used for payroll, tax mobility, and contacting stakeholders when necessary.
• Email Addresses: Email addresses make sure that the correct stakeholders have electronic access to their equity in your company. It is also the primary means for holders to receive notices about company events and equity events.

To bulk update stakeholder data on Carta:

1. Navigate to Stakeholders --> All Stakeholders --> Manage stakeholders --> Update Stakeholders

1. Select the data fields you would like to update and hit Download. This will produce a custom spreadsheet for you to edit in excel.

1. Edit data directly on the spreadsheet and save. Please do not move columns around.

1. Return to Carta to upload the spreadsheet you had just edited and saved. Hit Submit updates and confirm the changes you are making on Carta. Carta will run a set of checks to make sure everything looks correct. We only run checks on the stakeholders you have modified. Once the checks have passed you will see a confirmation page and you’re all set!

Resolving Errors

If we detect some errors in the data you edited, we want to help you resolve them before making the changes on Carta.

1. When you hit Submit updates and you have outstanding errors to resolve, hit Download Errors Spreadsheet. Clicking this button will download a spreadsheet of the errors we found with instructions on how you can resolve them.

1. When you open the spreadsheet, you will see the associated stakeholder with an error highlighted in red. Hover your mouse over to the first column to read a brief description on how you can resolve the error. Make the changes directly on Excel once again and hit save.

1. Return to Carta to upload the edited spreadsheet and submit again.

Coming soon: updating stakeholder properties in bulk.

If you have any questions or feedback for this new tool, please send a note to angela.jo@carta.com

If you manage a fund, we know how important it is to provide a great experience for your LPs. That’s why, for customers of our Fund Administration service and LP management products, we are making it easier for your LPs to access capital call notices.

Previously, LPs would receive an email informing them that the fund was issuing a capital call. Then they would have to log in to the Carta website in order to view the capital call notice and find the payment details. Often, things would become complicated if the LP didn’t remember their credentials, or delegated the payment task to a colleague.

In our latest release, we have made things simpler for LPs. When you or our Fund Administration team create a capital call, you will now get to choose whether your LPs will be required to log in to view the notice. If you choose No log in required, the email your LPs receive will include a secure link that takes them directly to the notice. Anyone they forward the email to will also be able to use the link.

The link will expire after 15 business days. After that, LPs will be required to log in to view the notice, which will be available in their Documents folder.

We are always looking for ways to make life better for GPs and LPs. If you have any questions or feedback, please let us know at investorservices@carta.com.