Carta

What exactly does a fund CFO do? Working in tandem with GPs, fund CFOs are responsible for just about everything outside of investing—and finding the right one is often crucial for success. Join Peter Walker (Head of Insights at Carta) and Marie D. (venture capital CFO Marie Drez) in the latest episode of The Data Minute as they cover: ➡ the specificities of the fund CFO role ➡ why emerging managers should be making room in their budgets for one ➡ how Carta’s Fund Formation product can help They’ll also dive into Marie’s own experiences, including important takeaways from the SVB crisis and why, in the world of AI, great CFOs are more important than ever. Listen now for more insights 🎧

How do you balance safe investments with high-risk, high-reward opportunities? In this week’s M&A Science Podcast, Henry Ward, CEO of Carta, shares insights on choosing between bounded and unbounded acquisitions. Watch the clip for key takeaways, and check out the full episode for more insights: https://hubs.ly/Q02STwsZ0

The fragility of QSBS status could lead to a costly loss—which is exactly what happened in a recent court case. In collaboration with Hanson Bridgett LLP, we’re breaking down a recent case in the U.S. Court of Federal Claims (Ju v. United States, March 2024) that highlights the importance of sufficient documentation for a QSBS position. First, a quick refresher on QSBS ⤵️ Qualified small business stock (QSBS) is a tax benefit available to founders, early employees, and early investors of certain startups. The QSBS benefit allows shareholders in domestic C-corporations to exclude up to $10 million (or 10x their basis, whichever is higher) of gain on the sale of those shares if they hold the equity for five years. What happened in this recent case 💼 In a court case from March 2024, the plaintiff was unable to retroactively prove QSBS eligibility because he did not have his share certificate and contemporaneous documentation showing his shares were issued by a qualified small business. As a result, he failed to receive the significant tax benefits. What does this mean? Even if you think your shares qualify for QSBS tax exclusions, the best way to prove eligibility is through timely QSBS attestation letters and documentation. Uncertainty and lack of consistent record-keeping may lead to the loss of a substantial tax benefit. How can I avoid that outcome? 🤔 Eliminate the guesswork: With Carta, eligible shareholders can take the guesswork out of QSBS compliance. Founders, early employees, and venture capitalists should start documenting the QSBS status of shares they are issued as soon as possible. If a company uses Carta for QSBS Attestation, all eligible shareholders—founders, investors and early employees—can see which shares qualify for QSBS right in their respective dashboard. Read the full co-authored article on the court case here: https://lnkd.in/gMcBWaGD 

It’s a busy October 🎃 in San Francisco—and Carta is in the streets! Our latest ad campaign for our Fund Admin product isn’t just catching eyes in the Financial District, it’s setting new standards. We have the world’s first end-to-end software suite purpose-built for the Office of the Fund CFO—and we want the world to know about it. Enjoy Fleet Week, the Blue Angels airshow, and SF Tech Week—and check out Carta’s ads on a street corner near you!

Meet Garrett Lord co-founder and CEO of Handshake, who’s on a mission to help democratize access to opportunity. Stemming from his own struggles searching for an internship in Silicon Valley from a remote university and without any existing network, Handshake seeks to ease this process for all students and alumni—no experience, connections, or luck required. Garrett sat down with us to share his personal story and how he confronted the reality of job hunting without a prestigious institution and its network for support. Read Garrett’s innovator story here: https://lnkd.in/g2AQQDsa Learn about the ins and outs of founding a startup from the ground up, including balancing tight budgets with the ability to compete on a national scale. From road tripping across America and selling Handshake at college fairs, to becoming the leading early-career talent network connecting around one million employers with 15 million students and young alumni around the world, Garrett’s journey has covered it all. His story is a testament to the power of entrepreneurship and the impact of bold action. Our thanks to Garrett for letting us share his story.

✨ Last week we brought together Bay Area PE associates for a dinner party at Penny Roma in San Francisco! 🎉 We were joined by Ashley Evans and Meicheng Shi from Francisco Partners for a fireside chat about what it takes to excel in a career in private equity. Some tips they shared: ➡ Associates are often closest to the details of a deal. Use that to build trust and a relationship with the team and board of the portfolio companies. ➡ Figure out if you find the day-to-day work interesting, because that will ensure that you not only avoid burnout, but thrive in the industry.  ➡ Make space for things in your life that bring you joy so you can stay energized, especially on hard days. We hope everyone has a successful rest of the year!

Curious about what separates a successful startup from the rest of the pack? While timing can play a big role, it also comes down to the founder, their sense of conviction and their ability to find the right investors. In this episode of The Data Minute, Peter Walker, Head of Insights at Carta, and Aditi Maliwal, Partner at Upfront Ventures, break down the key dynamics of the seed and Series A market. From navigating AI investment trends to understanding what it takes to be a great founder, this conversation is packed with tips and insights. Plus, don’t miss their analysis on which industries are being overlooked and ripe for future investment. Watch now: https://lnkd.in/gVwDy9u5 #CartaData #StartupFunding #VC #FounderAdvice

SolarMente is a Barcelona-based solar technology company that provides full-home electrification–including solar panels, electric vehicle charging, and heat pumps—with a monthly subscription. The company was founded by Victor Gardrinier and Wouter Draijer⚡ in 2019, and it participated in Y Combinator in 2021. Recently, SolarMente raised $50M in debt capital via a special purpose vehicle and $2M in a seed extension equity financing led by Leonardo DiCaprio.  Founder Victor Gardrinier shared insights into the company’s fundraising journey: https://lnkd.in/gvQ6rCCJ We cover: 🔸 How SolarMente got into Y Combinator  🔸 Raising venture debt at early stages 🔸 What to do after you raise your first round  🔸 Turning a customer into an investor   🔸 Working with Leonardo DiCaprio Congrats to Victor and the entire SolarMente team on your seed extension!

We’re getting close to the end of 2024 and that means audit and tax season for funds is quickly approaching. Ending the year with your finances, documents, and external partners in order can be complicated regardless of the size and stage of your fund. Join Heroida Dedushi, CPA, Tax Principal at BDO USA, Madison Sinclair and Bharath Ramachandran, Assurance Principals at BDO USA as they discuss how you can best prepare for this critical time in a firm’s annual cycle, moderated by Carta’s Chad Willbur. Highlights include: 🔵 Outlining important deadlines and milestones 🔵 Prepping for a potential audit 🔵 Choosing the right tools and services to support your business Register to join the discussion Tuesday, October 8 at 10am PT / 1pm ET here: https://lnkd.in/ghpsfKCp

As the PE landscape evolves, we’ve launched a fresh set of tools and insights to help you stay ahead, whether you’re an associate looking to hit the ground running or a senior leader looking to sharpen your edge. We’ve curated a growing collection of resources in the Private Equity Carta Classroom to help you level up. Here are a few highlights: - Ownership Trends 2024: See how employee ownership in PE has evolved. Our latest report breaks down key industry data and trends. - PE Blueprints: Get an insider's view of management-incentive equity in PE portfolio companies. Understand deal structures, types of equity, and how they affect waterfall distributions. - Waterfall Whitepaper: Go beyond understanding waterfall models—master them. This guide is packed with real-world examples of complex models to help you streamline your next deal. - Kayne Anderson Case Study: Discover how Kayne Anderson standardized portfolio cap tables using Carta and how it transformed their decision-making. - PE Fund Structure Article (in collaboration with expert fund attorneys at Weil, Gotshal & Manges LLP): Learn the essentials of limited partnerships and the tax and legal implications of PE fund structures. Explore the full collection of Private Equity resources here: https://lnkd.in/dgEHRnrP #PrivateEquity #WaterfallModeling #PEBlueprints #OwnershipTrends #FundStructure