LP Status Tracker in Closings - Carta Release Notes - Product Updates

What's New

We launched a new LP tracker in our Closings Tool so fund managers can easily track the status of each LP filling out subscription documents. We clearly show exactly where the LP is in the process and provide instructions for what each LP needs to do to progress and finish their subscription.

How it Works

In the Closings Tab of the entity you’re fundraising for, you’ll see one of these six statuses assigned to each LP:

• Prospect: LP has been added but the fund manager has not invited them to fill out documents yet.
• Invited: LP has been invited to Carta but has not started filling out their documents.
• In progress: Investor has started to complete documents.
• Investor Signature Pending: Investor has completed documents and requires two or more signatories. Not all signatories have signed yet.
• Submitted: Investor documents are ready for review.
• Countersigned: Documents are complete and the investor has been admitted to the fund.

To get more detail about the specific LP, you can click on each status and get more detailed information about the LP's status such as:

• If they are using the help of someone else such as a wealth manager to fill out documents.
• Who still needs to sign if there were multiple signatories designated by the LP.
• What actions does the LP need to take to complete their subscription.
• Timeline of the LP's interactions with the closings process.

Additionally from this modal you can manage LP access to your fundraising data room and see who has been interacting with the information in each data room.

Additional Resources

Check out that walks through the step-by-step process of adding LPs to the closings tool.

Is this available to me?

This is now available to any fund managers using Carta's Closings Tool. The Closings Tool gives LPs a quick and easy way to fill out Fund and SPV subscription documents.

Spencer Holton