Scope of Services: Implementation for Fund and SPV Administration (Raising)
Documents should be provided within 2 weeks of signing the Engagement Letter to ensure a timely implementation period.
Click the link at the bottom of this Scope of Services for a comprehensive list of applicable closings or non-closings required documents.
1. Account setup
Carta will:
Set up a Carta account for all entities under contract
Add the firm's logo to the Carta account
Connect the bank accounts of all entities under contract to Carta to facilitate future reconciliations and treasury services. When the connection is not possible due to the bank’s online portal limitations, Carta will only add the bank account details and manually import transactions through the last financial statement provided.
Provide a shared Box.com folder for Client to upload legacy documents(1)
(1) Clients can provide direct access to their document repository and accounting systems, enabling Carta to retrieve all necessary files. Alternatively, documents may also be uploaded directly to the dedicated Box folder provided by Carta.
Necessary documents or information you will provide to Carta:(2)
The investment firm logo
Full bank account access to a single profile for all fund-related entities. If the account requires a physical token, soft token or contains PII (Personally Identifiable Information), Carta will require a minimum of 3 logins, scaling up to 8 logins depending on account specifics and bank requirements.
Fund formation documents including the filed Certificate of Formation and EIN filing or entity W-9
Governing legal documents for all entities, such as LPAs, PPMs, LLCAs, and Operating Agreements
2. Upload of investor information
Carta will:
Upload the following investor information into the Carta platform for all funds:(3)
Name
Commitment amount
Tax ID
Full address
Email addresses for primary and secondary contacts with respective document permissions
For a raising fund, cash reconciliation is not included during implementation. The Fund Administration team will reconcile any recent transactions that may have occurred outside the Carta platform.
Note: Investors will be prompted by the Carta platform to enter their own wire instructions upon login. Due to the sensitivity of the data, we highly encourage requiring your investors to update their Carta account with their most up-to-date wire instructions instead of relying on any legacy data.
Necessary documents or information you will provide Carta:(2)
Fully executed subscription documents, W-9s, and side letters for all LPs(3)
Excel document contact list including all investors’ legal names, tax IDs, commitment amounts, and email addresses for primary and secondary contacts with respective permissions, if available(3)
(2) Additional documentation or information may be required as circumstances warrant.
(3) If Client is using Carta’s Closings tool to invite investors, then Carta will enable the Closings tool for Client to invite investors to enter this information directly into Carta.