RareBreed logo

How Carta helps first-time fund manager at Rarebreed VC focus on founders

Mac Conwell headshot
McKeever "Mac" Conwell II
Founder, Rarebreed Ventures
Investment focus

Pre-seed investments of up to $250,000

Limited partners


Portfolio companies



Fund Administration, AML/KYC Compliance

In 2020, Mac Conwell founded Rarebreed VC, which is focused on investing in “super early-stage” founders beyond the major tech hubs of San Francisco, New York, and Massachusetts. 

Products that build efficiency for administrative tasks make more time for Mac to focus on founders, he says.

“I’m a solo GP, effectively,” says Mac, who founded two startups before becoming a first-time fund manager. “I have help, but not much full-time help. So I was looking for a partner that could do more.” 

Mac found that partner in Carta, for both fund administration and AML/KYC compliance.

The way [Carta shows] performance…the way they do capital calls…the ease of finding tax documents. … These are little things that take stuff off my to-do list.

Mac Conwell
Founder, Rarebreed VC

Fast onboarding 

Mac appreciated the prompt onboarding experience at Carta. Before working with Carta, Mac tried out another fund admin service, but was disappointed: “They were not moving fast enough, and when I called, they sort of gave me the runaround.”

“I got connected to the folks at Carta, and within a week they were getting things going. They were responsive. It was such a pleasant experience. Carta’s been a great partner.” 

In the years since, that speed in execution has continued. “If I’m looking to do something fast, there’s always somebody within the organization I can contact who will be there to make sure I’m always taken care of. Which I can’t say that about almost any other service provider I have,” says Mac. 

Easier LP communication

Mac says Carta helps him save time when he’s communicating with LPs. Carta’s LP Portal lets limited partners sign in to access documents they need without Mac needing to assist them. 

“Carta is there if they need a document, like a K-1. If they need some information, it’s most likely in Carta.”

The synergies of the Carta platform make assembling quarterly reports and answering one-off LP questions on portfolio company status easy, says Mac. 

Because so many of Mac’s portfolio companies are on Carta for their cap tables, network effects make information sharing even easier. When reporting on portfolio companies to LPs, Mac doesn’t have to chase down information because it’s already on Carta.

“I don’t have to worry about reaching out to those founders, like, hey, send me your updated cap tables,” says Mac.  

Smooth capital calls

And with 194 LPs, Mac says Carta helps him manage capital calls with ease. Carta gives GPs a view into where each investor is in an active capital call, without the manual and time-consuming follow-up.

“I have a lot of smaller LPs—if this is their first time, they may not know the series of a capital call or how the timing works. Carta gives me an easy place to go and check and see where people are.” 

A consistently improving product 

Ever since Mac signed on with Carta, he’s been impressed with the new features and consistent improvements. 

“Carta’s always doing product development: The way they show performance has improved significantly. The way they do capital calls has been streamlined. The ease of finding tax documents, the way they even handle doing LPA and subscription docs internally—these are little things that take stuff off my to-do list.” 

Disclosure: Carta is an investor in Rarebreed Ventures.

More stories about how Carta has helped companies and investors

Startup equity,Fintech,options
How Vested uses Carta APIs to streamline employee stock option funding
Learn more
Startup general counsel,law firms,pro forma
How Carta makes pro formas painless for this general counsel
Learn more
Venture Capital APAC,Early-stage,Fintech,venture capital
How VC firm Vectr Fintech grew with the help of Carta Fund Admin
Learn more
Startup LLC,phantom equity
How Carta makes phantom equity simple for Athena LLC
Learn more
Venture Capital API,fund administration,software-as-a-service,venture capital
How Valor VC uses Carta APIs to streamline portfolio reporting and audits
Learn more
Startup Advertising,E-commerce,Fintech
How Perkville uses Carta to automate equity and compensation management
Learn more
Startup Fintech
How StellarFi leverages the Carta platform for cap table, compensation, and equity advisory
Learn more
Startup B2B,SaaS
How Carta helps Streamline manage equity, make hires, and save on taxes
Learn more
Venture Capital Fintech,Upmarket
How QED Investors leveraged Carta technology to keep up with growth
Learn more