New at Carta: international fund administration

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In the three years since Carta started a fund administration business, we have hired some of the best talent in the industry to help us build a technology platform—and built innovations including real-time IRR and event-based accounting. But even the best technology can’t do everything—it’s a tool to help us provide the best possible service to our customers. Our fund admin teams deliver that service to more than 700 funds and 3,500 entities today.

Until 2020, Carta fund administration was only available for funds reporting using the U.S. generally accepted accounting principles (GAAP) standard, which largely applies to funds domiciled in the United States and the Cayman Islands. But the venture capital industry is global by nature. Of the $2 trillion in global venture and growth assets under management, over 60% is in funds based outside the U.S. 

Managing growing cross-border investments and an increasingly international LP base is becoming ever more challenging. Global funds that use the international financial reporting standards (IFRS) need access to the same level of technology and service that funds using the GAAP standard do.

Announcing international fund administration

We’re excited to announce that Carta’s fund administration is now available for all global funds, regardless of your accounting standard.1 We assembled a world-class international fund administration team in Asia; it’s based out of our Singapore office, which opened in January 2021. The team has some  30 years’ worth of combined experience and expertise in both U.S. GAAP and IFRS. We also reengineered our platform to support multi-currency investments and international fund operations. 

What do Carta’s global venture customers have access to?

  1. A dedicated service team to support your middle and back-office needs in your time zone
  2. An end-to-end platform support with all-in-one portfolio management and LP communication solutions
  3. Integrated cap tables and ESOP offerings for your portfolio companies, with information seamlessly flowing from the company to the fund manager platform

Changing the game of venture, globally

At Carta, we’re on a mission to fix fund administration by combining professional services with innovative technology. We believe that fund managers ought to spend their time on what they set out to do: finding and nurturing the best companies of tomorrow and generating returns for their LPs. We want to take the rest off your hands by giving you everything you need to manage your fund operations. With the launch of our Singapore team, we’re excited to take fund administration to the global stage.

Interested? Get in touch with our team today.

1Scoping is required for supported domiciles and fund currencies.
DISCLOSURE: This communication is on behalf of eShares Inc., d/b/a Carta Inc. (“Carta”). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. 
©2021 eShares Inc., d/b/a Carta Inc. (“Carta”). All rights reserved. Reproduction prohibited.

 

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