Carta Closings - Carta Release Notes - Product Updates
3 years ago8/2/2022
What’s New
We revamped the entire limited partner (LP) experience of our closings product. Built with the feedback of the 20,000 LPs who have already closed on Carta, we’re excited to release Carta Closings, providing LPs the quickest and easiest way to subscribe to a Fund or SPV.
How it Works
Carta Closings guides LPs through the subscription process and ensures that all LPs, from first-time investors to experienced institutions, have a smooth experience.
Improvements include:
A Shorter & Smarter Questionnaire
A typical investor questionnaire contains dozens of questions, most of which are irrelevant to a majority of LPs. We reduced the time your LPs will spend on subscription documents by building a smarter workflow that adds or subtracts questions based on LPs responses to previous questions.
Guided Support
Investor questionnaires can contain legal and industry terms that are confusing to some LPs. Now, LPs will see a dynamic in-app sidebar that defines these terms and provides answers to frequently asked questions throughout the questionnaire.
Pre-Filled Investor Questionnaire
Once an LP fills out Carta’s Investor Questionnaire, their information is saved and will be auto-populated for all subsequent entities they subscribe to. This allows returning LPs to subscribe to new entities in seconds.
Additional improvements:
- Forwarding subscription agreements: LPs can easily forward the documents to another individual to complete on their behalf, like a wealth manager or assistant. LPs will be notified when the documents are ready for their final review and signature.
- Integrated data room: Carta Closings allows you to share fundraising documents with LPs at any time during the subscription process through our secure data room. Plus, LPs will be able to access their data room at any point during the subscription process.
- Wiring instructions & capital calls: Display wiring and initial payment instructions to LPs (optional) as soon as they submit their documents, and have your initial capital call automatically shared once the LP has been admitted to the entity.
- Instant KYC: Built directly into Carta Closings, receive instant KYC/AML compliance checks for your LPs (optional).
- Pre-filled W-9s: For U.S.-based LPs subscribing as individuals, Carta can now pre-fill a W-9 for them to review and e-sign. The W-9 is pre-filled based on the information the LP already provided as part of their subscription.
See how it works:
Carta: Closings for LPs
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Who this affects
Carta Closings is an optional, free product available to all fund administration clients raising new funds or SPVs.
More Resources
Support Article for Fund Managers Request a Demo
Spencer Holton