Raising the standard in fund administration

We started Carta Fund Administration to fix a broken system. We wanted to bring modern solutions to an industry that had stagnated, relying on aging technology, tangled email threads, and slow manual processes.  Since launching in 2018, we’ve continually  innovated to improve the customer experience and raise the standard. 

Customers have responded: Our customer-satisfaction score has risen to an all-time high (4.5 out of 5).

We believe every CFO should hold their fund admin to a high standard—including us. So we wanted to outline what we did, what we learned, and how our Fund Administration  product has evolved to better serve our customers.  

In the summer of 2023, Carta Fund Administration tested changes to our service model. We built tools to  provide customers  with accuracy, transparency, and unprecedented control.  These tools worked for some customers, but we also heard feedback from those who wanted something different. We listened, iterated, and improved.  

Carta Fund Administration today is a product of what we’ve learned. We heard your feedback and created faster, more accurate financial packages, faster auditor approvals, more real-time reconciliation, and faster capital calls.

Carta Fund Administration is now the fastest growing business at Carta, marrying best-in-class technology with world-class  service. It is a powerful, unified platform, hand-built for the Office of the Fund CFO and offering customized solutions that meet the needs of our customers.  

It is not just better than our 2023 offering—it’s better than any offering from the old status quo for fund administration. It is the new standard for fund administration.

The path to the New Standard

Let’s start at the beginning: What did we do in 2023? 

We tested a functionalized  model,  implementing tech-enabled workflows for specialized core fund administration functions (i.e. capital activity, treasury, fee calculations, investments, etc.) rather than one fund administrator owning everything for a client. We also tested  requiring clients to engage directly with the software when submitting requests like capital calls, investments, or paying or booking expenses.

So, what did we learn from these changes—and from our customers? 

While standardized software and automation can drive efficiency and accuracy, each firm needs bespoke solutions, too. After all, there isn’t a one-size-fits all fund admin experience. The needs of every firm are unique.

We paid close attention to what worked and what needed fine-tuning. And we adjusted.

Today: The premier fund admin solution

So, what is Carta Fund Administration  like today? 

• Clients control their experience—they can operate their funds on our tech platform, and they also have a direct point of contact on the fund accounting team when they need service or consultation.

• All clients have standing meetings with their dedicated accounting team on a schedule that works for the client.

• Our technology is customized: the specific nuances of each client’s needs are built into the application and leveraged in workflows.

• Our design team  has built  an intuitive customer experience—so those who want to work on our tech platform  can do so easily, providing greater control and visibility for Fund CFOs.  

• We use data to constantly improve: We closely monitor delivery quality and timeliness.

The data—and our customers—tell the story

Some examples of our improvement: 

• Faster period-end packages: This year end,  we delivered 71% of financial packages within 30 days of close. That’s a greater than 10x increase in efficiency—and a lot faster than the 45-day industry standard. We’re delivering faster and faster each year, to continue beating LP expectations and delivering visibility into investment performance as quickly as possible. 

• Greater accuracy: Carta’s accuracy has nearly doubled in the last four years, measured by the rate of  requests for changes in financial packages. Carta is delivering on faster turns, with less back-and-forth and churn, while simultaneously increasing quality and accuracy. 

• Faster auditor approvals: In  2024  the average  time to approve financials on the Carta platform went from ~53 days to ~24 days, a 123% improvement. Over 600 auditors logged into Carta to self-serve audit tasks.  Our streamlined process is helping fund CFOs close their books faster, reduce audit-season stress, and deliver financials to LPs more quickly. The result: Better investor relationships, and more time to focus on higher-impact, strategic work.

• Faster auto reconciliation: Between 2024 and 2025, the number of transactions we’ve reconciled in real-time has increased from 37% to 66%, representing our unwavering focus on delivering automation without compromising quality.

• Faster capital calls: Carta is automating key activities, such as capital calls, that were historically high-touch, manual and time-intensive. From May 2024 to May 2025, we’ve increased the percentage of fully automated, zero-touch capital calls by 70%. 

Customers have taken notice.

“I love Carta products, but I value the team more, because they’re fund administration experts who know venture and understand our business, while bringing their own point of view,” says Matt Moran, CFO of DataTribe.  “They’re not just bookkeepers maintaining our books. They’re a resource for best practices and they share what they see across the industry in appropriate ways.”

We continue to expand systemic capabilities and build for customization, complexity, and completeness. Our service teams are providing higher quality and more value-additive service. We now provide advanced technology where you need it most—and a team of experts is always just a call away. 

Learn more about how we are changing fund administration