Migrating your fund to Carta: The new standard for speed and transparency

Why do funds change their fund administrators?

Funds switch fund administrators for several reasons: The GP might want to move to a firm with better software to enhance efficiency and minimize dependency on spreadsheets. LPs might request a fund administrator with better reporting. A fund manager might simply want to explore partnering with a new fund administration team. 

Choosing whether and when to move requires careful evaluation. However, Carta's AI-first implementations model sets a new bar in the market, significantly reducing the administrative burden of switching.

Benefits of changing your fund administrator

Changing to a provider that runs on a modern, software-first tech stack can give fund managers a distinct edge. Benefits include:

1. Frictionless automation: By leveraging AI to automate data entry and validation work, your fund administration team is freed up to provide high-touch service and specialty expertise for complex fund structures.

2. Reliability and transparency: Carta uses AI workflows to read, load, and verify your LP data and documents. LPs retain transaction-level visibility into historical data (like PCAPs), ensuring they don’t lose access to records in the move.

3. Rapid time-to-value: Unlike legacy providers where go-live can take months, Carta can onboard qualifying entities in a matter of hours. This means you can start seeing your data and learning the platform almost immediately. 

Key considerations when transitioning

As the fund manager, you have a responsibility first and foremost to your LPs to ensure a smooth transition that protects continuity of reporting, data accuracy, and compliance. When you evaluate a new fund admin partner, look for:

• Frictionless data transition: Avoid manual data entry. Your provider should be able to direct-inject your general ledger from sources like QuickBooks, Xero, Investran, or AllVue, powered by context-aware AI that ensure accuracy and speed. This minimizes errors, preserves your historical record, and drastically speeds up the move.

• Validation at the speed of AI: Ask how your provider handles LP documents. Carta uses AI to read, load, and check LP legal docs and contact lists, with humans handling only the “last mile” of verification so your investors’ information stays accurate and complete.

• Predictability: Before you even sign, your provider should give you a clear, binding implementation timeline. At Carta, we use an internal scheduling tool during the sales process to commit to onboarding start and finish dates.

• A software-first tech stack: Many providers claim to be tech-enabled but rely on non-scalable engineering hours behind the scenes. Look for a partner with a native ERP that automates document ingestion at scale so your team and LPs aren’t left waiting on manual work.

• Scalability: If you expect to set up funds across multiple jurisdictions or have otherwise complex structures within your fund, choose a provider that can deliver expedited onboarding for simple entities while providing the depth needed for complex fund families, so LPs get consistent, high-quality reporting across vehicles.

Making the switch: The step-by-step guide

Whether you’re migrating one fund or multiple SPVs, Carta sets achievable milestones and provides a project management team to guide you end-to-end.

Step 1: Book a call and get your timeline. Talk to a member of our team. We’ll provide an immediate, transparent onboarding timeline based on your fund’s specific criteria.

Step 2: Meet your account manager. They will guide you through the onboarding process and serve as your first point of contact for all future fund administration inquiries.

Step 3: KYC and security. If your fund uses Carta’s KYC-as-a-service, we’ll request the necessary information to conduct checks on your LPs.

Step 4: Automated data retrieval. Instead of manual spreadsheets, we use custom scripts to fetch your general ledger directly from your existing provider and AI to validate your LP legal docs.

Step 5: Transaction-level migration. Carta builds out your platform, showing historical data at a transaction level rather than in bulk. This supports a smooth, high-fidelity transition for your investors.

Step 6: Go live. Your fund is ready! For qualifying entities, the implementation process may only take a matter of hours, allowing you to log into your account and start using the platform right away.

Talk to an expert

Considering changing your fund administrator? Book a call with our team to explore how fast you could be up and running on Carta.

Note on qualifying criteria: Carta's expedited onboarding timeline applies to entities meeting specific criteria. Funds with complex structures, multiple jurisdictions, or legacy system integrations may require longer timelines. We'll identify your fund's qualification status during the initial consultation and provide a clear, binding timeline for your specific situation.