Product
Fund administration where every number shows its work.
FundAgent keeps the ledgers, the capital accounts, the investor documents and the evidence behind them in one place, for closed-ended private-equity and venture funds. Eight destinations, one way of working: prepared, reviewed by someone else, provable.
- TodayWhat needs a person now, across funds: approvals, reconciliations, documents, the close.
- FundNet asset value, commitments, structure and performance. Every figure opens its proof.
- PortfolioInvestments, valuations and disposals, with KPIs collected from portfolio companies.
- InvestorsPositions by class and compartment, versioned KYC files, the investor portal.
- OperationsCapital calls, distributions, fees and equalisation: prepared, reviewed, posted.
- CashBank statements, scored matches, supplier payables and FX differences.
- AccountingLedgers by entity and compartment, the journal, the quarter close.
- ReportsILPA, capital account statements, AIFMD, CRS and FATCA, SFDR and ELTIF dossiers.
Oversight
- Agents and routinesWhat the AI prepared, with its sources, and what it is allowed to do.
- Audit trailEvery event, chained and signed, with a verification anyone authorised can run.
Provable figures
Click a total. See what it is made of. Open the source.
Net asset value, a capital account, a fee, a payable: every figure is a link to its proof. The composition is checked against the figure to the cent, and the trail ends at the original document, retained byte for byte with its SHA-256 hash.
- Commitments
- €240.0m
- Called capital
- €180.0m 75%
- Available cash
- €71.3m
- Investors
- 9
Exact by construction
- One TVPI definition, on called capital, the same figure on every screen, letter and tile
- Fees rounded once per position and period, half to even
- Amounts in different currencies are never added; a cross-currency total is shown as an equivalent, with its rates
- Stored texts shown in the reader’s language
Capital activity
Calls, distributions and fees, allocated to the cent.
Operations follow the dated, approved LPA policy of the fund: the bases, the rates and the tiers. Each one is prepared, re-checked at approval and at posting, and reversible only under its dependency controls.
Per position, not per name
An investor can hold several positions in different classes or closings, each with its own terms and compartment.
Fees from the LPA
Commitments, invested cost or capital accounts as basis, dated tiers, specific rates per position, ACT/365 or the convention you chose.
Equalisation and the hard cases
Cost-plus-interest equalisation, a call netted with a distribution, distributions in kind: separate, reviewed workflows.
| Investor | Commitment | Called |
|---|---|---|
| Nordic Pension Partners | €50,000,000.00 | |
| Belmont Capital | €40,000,000.00 | |
| Fondation Montclair | €33,600,000.00 | |
| Cedar Endowment | €30,000,000.00 | |
| Rivage Insurance | €28,000,000.00 | |
| Aurora Access Feeder | €25,000,000.00 | |
| Alpine Family Office | €20,000,000.00 | |
| Émilie Bernard | €8,400,000.00 | |
| Maison Capital GP | €5,000,000.00 |
The 9 allocations add up to the call to the cent.
Class currencies
A USD class and a hedged GBP class beside a euro fund.
An investor in a currency class commits, is called, pays, receives distributions and follows a capital account in the currency of the class, while the fund keeps its books in its functional currency.
Rates approved, never assumed
Each closing, call, settlement and closing date uses a class rate quoted from its source and approved by a second person; the close revalues investor balances at the approved class rates.
Each class bears its own result
Hedging gains and losses and FX on a class’s investor balances stay with that class and are paid to its positions, outside the carry.
Paid in the class currency
Payment instructions are approved per currency; notices, statements, letters, ILPA files and CRS and FATCA reports show amounts in the class currency, with the rate and its source.
AClass A · EURFund currency · payment instructions approvedActiveUClass U · USDUS$12,000,000.00 committed · USD rate approved for each dateActiveGClass G · GBP, hedgedForward contracts recorded and valued; their result stays in the classNo position yet
Each class rate is quoted from its source and approved by a second person; approved rates never change.
Fund families
The main fund, its parallel fund and its feeder, kept in step.
An investment or a shared cost is entered once for the family and split across vehicles by the rule and clause of an approved, versioned family structure, to the cent.
Excusals and exclusions respected
A family investment honours each vehicle’s exclusions and each investor’s excusal; exit proceeds return only to the positions that funded the deal.
Feeders with look-through
Calls and distributions of the main fund flow to the feeder; its investors see their share of each holding, and a consolidation check holds the family close until the feeder agrees with its master.
Family-wide figures
Commitments, called, distributed, NAV, DPI and TVPI by vehicle, the intra-family elimination and the combined total, all dated.
Pro rata of eligible commitments · rule and clause quoted in the approved family version
| Vehicle | Basis | Share |
|---|---|---|
| Aurora Growth Fund II SCSp | €240,000,000.00 | |
| Aurora Growth Fund II Parallel SCSp | €60,000,000.00 |
Aurora Access Feeder SCSp · Feeder: its position counts in the main fund; its investors see their look-through share
The vehicles’ shares add up to the €6,250,000.00 invested, to the cent.
Side letters and MFN
Side letters the engine applies, MFN rounds it runs.
Each provision of a side letter is a dated condition quoted from the signed letter and approved by a second person. The engine then applies it to fees, carried interest and calls, and every changed figure points to the provision that changed it.
Never less favourable
A specific fee rate applies only when it is lower than the base rate; a carry rate is capped by the policy, a preferred return raised to it.
MFN rounds with elections
A round computes eligibility and offers, is opened by a second person, and sends each eligible investor a package of labelled provisions to elect.
Nothing disclosed
The package names no investor and states no commitment, only whether a provision was granted to a commitment at or below the recipient’s own, or above it.
AManagement fee discount of 25%Granted to a commitment at or below yoursOfferedBESG exclusion: tobacco, controversial weaponsGranted to a commitment at or below yoursOfferedCManagement fee rate of 1.75%Not more favourable than your current termsNot offered
No investor is named and no commitment is disclosed. A specific fee rate applies only when it is lower than the base rate.
Accounting
Ledgers that reconcile by construction.
Each entity keeps its own ledger; compartments and investor positions are carried on every line. Every change is verified by ledger, compartment and position, and rolled back as a whole if anything is off.
Functional currency
Holdings and payables keep their original currency and their source-backed rates; revaluations go through the same four-eyes workflow.
Consolidation as a workflow
An approved policy chooses full consolidation, equity method or fair value; eliminations and minority interests are computed and posted separately.
Opening balances that say what they are
A migrated opening never invents past flows. Calculations that need unproven history refuse to assume it is zero.
- Aurora Growth Fund II SCSpFund · own ledger · EUR
- Compartment A · GrowthPositions, NAV and fees by compartment
- Compartment B · Co-investmentPositions, NAV and fees by compartment
- Aurora Growth GP S.à r.l.General partner · own ledgerFull
- Aurora Access Feeder SCSpFeeder · own ledgerEquity method
- Aurora Holdco 1 S.à r.l.SPV · own ledger · USDFair value
Intercompany loans and contributions post both sides atomically. Consolidation follows an approved policy and posts its delta in a separate ledger.
Waterfalls and carried interest
The LPA, computed. Carry accrued every quarter.
European and deal-by-deal waterfalls with individual or pooled hurdles, dated preferred return, catch-up and loss recovery, all taken from the approved policy. At each period end, carried interest is accrued by hypothetical liquidation; clawback distinguishes carry recognised, settled and already claimed.
Whole-fund · 8% preferred return · 100% catch-up · 80/20
| Tier | Investors | General partner |
|---|---|---|
| Return of contributed capital | €0.00 | |
| Preferred return | €0.00 | |
| GP catch-up | €0.00 | |
| Carried interest split 80/20 | ||
| Total |
The tiers add up to the €60,000,000.00 distributed, to the cent. The GP receives 20% of profits.
Quarter close
One action prepares it. Another person approves it.
Closing checks, management fees, carry accrual, NAV and capital accounts, statements, ILPA reports and letters: drafted together, each with its evidence. Nothing is published or sent by the close itself.
Blockers named, with links
After preparation, the close says what it prepared and lists each point still blocking it, with the operation and what it waits for: a draft to submit, an approval, a posting.
Carry accruals that explain themselves
A top-up accrual states the previous and new carry, the difference and its causes; if its figures have changed since, it says to reject it and the close prepares a fresh one.
Approvals in one place
Prepared bank matches, carry accruals and close steps wait in Today, decided where they appear.
1 Jul to 30 Sep 2026
-
To prepare44 checks in order
Closing checks
Balanced books, bank reconciled, LP register agreed to the ledger.
-
To prepareDrafted
Management fees
Calculated under the approved LPA policy, ACT/365.
-
To prepareDrafted
Carried-interest accrual
Hypothetical liquidation through the approved waterfall.
-
To prepareReconciled
NAV and capital accounts
Period-end NAV and every investor’s capital account, reconciled.
-
To prepare9 drafted
Capital account statements
One PDF per investor, held for review.
-
To prepare9 drafted
ILPA reports
Per investor, when every input is evidenced.
-
To prepare9 drafted
Quarterly letters
A short letter per investor, never sent by the close.
-
To prepareAwaiting approval
Period close
Closed by a person other than the preparer.
Today
Start the day with decisions, not dashboards.
Today gathers what needs a person: entries to approve, movements to reconcile, documents to process, a close to sign off. Approvals work on a phone, with the evidence one tap away.
- Everything waiting for you, across funds
- Bank matches, carry accruals and close steps, decided where they appear
- Approve on mobile, never your own work
- The proof behind every amount, one tap away
Good morning, Alexandre.
Friday 30 October · Aurora Growth Fund II
To approve 3
-
Capital call CC-2026-04€24,000,000.00Prepared by Camille Laurent
-
Invoice · Orion Advisory€12,500.00Prepared by Camille Laurent
-
Bank match · Fondation Montclair€3,360,000.00Score 95 / 100 · proposed by Camille Laurent
Cash and payments
Statements in, payments out, every step explained.
camt.053, MT940 and BAI2 files are imported as originals and checked (opening balance plus movements must equal closing balance) before anything is written. Partial and grouped payments, fees and FX differences are made explicit, and every match is approved by a second person.
Invoices to payables
An invoice e-mail becomes a proposed payable with quoted fields; once approved and posted, it appears in cash suggestions and settles against the real bank movement.
No double counting
Statements carry explicit membership: two statements covering the same day never count a movement twice.
Payment files under four eyes
Approved distributions and supplier invoices become an ISO 20022 pain.001 batch; a second person approves the exact file by its hash, the bank’s pain.002 status report is read back, and the statement settles each transfer.
- Currency20 / 20
- Exact amount35 / 35
- Reference25 / 25
- Counterparty10 / 10
- Date proximity5 / 10
- Score95 / 100
The score explains a suggestion; it authorises nothing. Another person approves the match.
€1,500,000.00
- PreparedCamille Laurent
- ApprovedAlexandre Weber
- Exportedto the bank
- Acceptedpain.002 · ACSC × 5
- Debitedmatched on the statement
A transfer to an investor without an approved, valid KYC file cannot enter a batch.
Investors and reporting
What investors and regulators receive, reviewed first.
Investor documents and regulatory files are prepared from the books and approved by someone other than their preparer. Approved files are frozen; the export reproduces exactly what was approved.
Investors
- Admission only with an approved, valid KYC file; payments to an investor without one are blocked
- Portal access opened automatically with the first position; each investor sees only their own positions and never another investor’s name
- Portal: amount due by currency, payment instructions to copy, Paid and To pay, readable document names
- ILPA capital call and distribution notice (v2.0) and Performance template, approved then published to the portal
- Capital account statements and quarterly letters, held for review
Regulatory and exports
- AIFMD Annex IV XML from the ESMA schemas, packaged for the CSSF, with a warning from 16 April 2027 when AIFMD II applies
- CRS and FATCA Luxembourg files, schema-validated
- SFDR and ELTIF dossiers, every datum quoted from a source
- Excel exports with typed amounts and decimal-exact totals
FundAgent prepares and exports; it does not file with an authority or execute payments on your behalf.
Filing calendar
Every Luxembourg deadline, with its owner and its proof.
From the fund’s regulatory profile, FundAgent derives its filings and those of its AIFM or general partner: Annex IV, subscription tax, annual accounts, CRS, FATCA and more, each with its legal basis, official source, owner and reviewer.
Live status
When FundAgent produces the filing, its own state counts: draft, ready for review, approved, filed with the bank’s or authority’s acknowledgement.
Overdue is loud
Reminders become tasks for the owner as the deadline nears and close themselves once the proof is recorded; a late filing is marked as late in the audit trail.
One cockpit
Across funds: overdue filings, controls to attest, approvals waiting, open findings and the last close. It works on a phone.
CSSFAnnex IV, Q3 2026Due 30 Oct 2026 · in preparation, Camille LaurentOverdueAEDSubscription tax, Q3 2026Due 20 Oct 2026 · proof of filing keptFiledCSSFAnnex IV, Q2 2026Due 30 Jul 2026 · proof of filing keptFiledACDCRS and FATCA, 2026Due 30 Jun 2027Upcoming
Obligations follow from the fund’s regulatory profile, each with its legal basis and official source. Reminders become tasks; a filing counts as done only with its proof.
Administrator check
Keep your administrator. Check every figure they send.
Drop in the administrator’s statements, the LPA and the fund’s bank statements. FundAgent recomputes, investor by investor and date by date, what the administrator should show, compares it to the cent and explains each difference with its evidence.
No migration needed
It works on a fund FundAgent does not administer; the LPA terms it reads are quoted and approved by a second person before they count.
Each difference, sourced
Amount, direction, probable cause and the chain of evidence: the statement page or line, the bank line, the LPA clause.
Decided under four eyes
Send a difference to the administrator or accept it as explained, with a comment; export the diagnosis to PDF and Excel.
at stake
- 8 differences · 2 explained · 6 sent to the administrator
- Administrator: Example Fund Services S.A.
| Difference | Amount | Decision |
|---|---|---|
| Contribution booked to Evergreen Foundation instead of Cedar Family Office SA | Sent | |
| Distribution paid on 25 Jun 2026 to Brightwater Endowment Trust, missing from the statement | Sent | |
| Fees at 2.00% instead of the 1.50% the LPA sets · Delta Insurance plc | Sent |
5 more differences
See your figures proved.
In a demo, we trace a NAV to its source documents, prepare a quarter close and show the controls at work, with your questions and at your pace.
Capital call CC-2026-04
Information and evidence
€24,000,000.00
How this figure is obtained
10% of each position’s commitment, allocated pro rata; the largest-remainder rule settles any cent left over.
Composition
9 items- Nordic Pension Partners10% of €50,000,000.00€5,000,000.00
- Belmont Capital10% of €40,000,000.00€4,000,000.00
- Fondation Montclair10% of €33,600,000.00€3,360,000.00
- Cedar Endowment10% of €30,000,000.00€3,000,000.00
- Rivage Insurance10% of €28,000,000.00€2,800,000.00
- Aurora Access Feeder10% of €25,000,000.00€2,500,000.00
- Alpine Family Office10% of €20,000,000.00€2,000,000.00
- Émilie Bernard10% of €8,400,000.00€840,000.00
- Maison Capital GP10% of €5,000,000.00€500,000.00
The 9 items add up to this figure to the cent.
Nordic Pension Partners · CC-2026-04
Information and evidence
€5,000,000.00
How this figure is obtained
Commitment €50,000,000.00 × 10.00% = €5,000,000.00
This call divides exactly: no cent is left over to allocate.
Belmont Capital · CC-2026-04
Information and evidence
€4,000,000.00
How this figure is obtained
Commitment €40,000,000.00 × 10.00% = €4,000,000.00
This call divides exactly: no cent is left over to allocate.
Fondation Montclair · CC-2026-04
Information and evidence
€3,360,000.00
How this figure is obtained
Commitment €33,600,000.00 × 10.00% = €3,360,000.00
This call divides exactly: no cent is left over to allocate.
Cedar Endowment · CC-2026-04
Information and evidence
€3,000,000.00
How this figure is obtained
Commitment €30,000,000.00 × 10.00% = €3,000,000.00
This call divides exactly: no cent is left over to allocate.
Rivage Insurance · CC-2026-04
Information and evidence
€2,800,000.00
How this figure is obtained
Commitment €28,000,000.00 × 10.00% = €2,800,000.00
This call divides exactly: no cent is left over to allocate.
Aurora Access Feeder · CC-2026-04
Information and evidence
€2,500,000.00
How this figure is obtained
Commitment €25,000,000.00 × 10.00% = €2,500,000.00
This call divides exactly: no cent is left over to allocate.
Alpine Family Office · CC-2026-04
Information and evidence
€2,000,000.00
How this figure is obtained
Commitment €20,000,000.00 × 10.00% = €2,000,000.00
This call divides exactly: no cent is left over to allocate.
Émilie Bernard · CC-2026-04
Information and evidence
€840,000.00
How this figure is obtained
Commitment €8,400,000.00 × 10.00% = €840,000.00
This call divides exactly: no cent is left over to allocate.
Maison Capital GP · CC-2026-04
Information and evidence
€500,000.00
How this figure is obtained
Commitment €5,000,000.00 × 10.00% = €500,000.00
This call divides exactly: no cent is left over to allocate.
Aurora Growth Fund II SCSp · Nova Health follow-on
Information and evidence
€5,000,000.00
How this figure is obtained
€240,000,000.00 ÷ €300,000,000.00 × €6,250,000.00 = €5,000,000.00
Eligible commitments at the date, read from the dated capital register; the rule and its clause come from the approved family version.
Aurora Growth Fund II Parallel SCSp · Nova Health follow-on
Information and evidence
€1,250,000.00
How this figure is obtained
€60,000,000.00 ÷ €300,000,000.00 × €6,250,000.00 = €1,250,000.00
Eligible commitments at the date, read from the dated capital register; the rule and its clause come from the approved family version.
Return of contributed capital · Investors
Information and evidence
€40,000,000.00
How this figure is obtained
Contributed capital not yet returned, read from the dated capital register.
Approved distribution policy, version in force at the distribution date
Preferred return · Investors
Information and evidence
€9,600,000.00
How this figure is obtained
8% a year on contributed capital, compounded annually on an ACT/365 basis from each contribution date, as set by the approved policy.
Approved distribution policy, version in force at the distribution date
GP catch-up · General partner
Information and evidence
€2,400,000.00
How this figure is obtained
100% to the general partner until it holds 20% of the profits distributed: 20% × (€9,600,000.00 + €2,400,000.00) = €2,400,000.00.
Approved distribution policy, version in force at the distribution date
Carried interest split 80/20 · Investors
Information and evidence
€6,400,000.00
How this figure is obtained
The remaining €8,000,000.00, shared 80% to investors and 20% to the general partner.
Approved distribution policy, version in force at the distribution date
Composition
2 items- Investors80%€6,400,000.00
- General partner20%€1,600,000.00
Carried interest split 80/20 · General partner
Information and evidence
€1,600,000.00
How this figure is obtained
The remaining €8,000,000.00, shared 80% to investors and 20% to the general partner.
Approved distribution policy, version in force at the distribution date
Composition
2 items- Investors80%€6,400,000.00
- General partner20%€1,600,000.00
Distribution D-2026-02 · to investors
Information and evidence
€56,000,000.00
Composition
3 items- Return of contributed capital€40,000,000.00
- Preferred return€9,600,000.00
- Carried interest split 80/20€6,400,000.00
The 3 items add up to this figure to the cent.
Distribution D-2026-02 · to the general partner
Information and evidence
€4,000,000.00
Composition
2 items- GP catch-up€2,400,000.00
- Carried interest split 80/20€1,600,000.00
The 2 items add up to this figure to the cent.
Amount at stake
Information and evidence
€430,024.51
How this figure is obtained
The six differences still open, after the two explained by a reviewer.
Composition
6 items- Contribution booked to Evergreen Foundation instead of Cedar Family Office SA€234,567.89
- Distribution paid on 25 Jun 2026 to Brightwater Endowment Trust, missing from the statement€150,000.00
- Fees at 2.00% instead of the 1.50% the LPA sets · Delta Insurance plc€18,978.53
- Fees at 2.00% instead of the 1.50% the LPA sets · Brightwater Endowment Trust€12,397.26
- Fees at 2.00% instead of the 1.50% the LPA sets · Evergreen Foundation€8,264.84
- Fees at 2.00% instead of the 1.50% the LPA sets · Cedar Family Office SA€5,815.99
The 6 items add up to this figure to the cent.
Verified figures
Information and evidence
109 / 130
How this figure is obtained
Each figure on the administrator’s statements is recomputed from the LPA and the bank: 130 compared, 109 agree and 21 differ, grouped into 8 differences.
26 further figures could not be verified because the ending NAV needs valuations. They are listed separately and never counted as agreeing.
Contribution booked to Evergreen Foundation instead of Cedar Family Office SA
Information and evidence
€234,567.89
How this figure is obtained
Contributions received from Cedar Family Office SA, attributed by bank reference, compared with the administrator’s capital account at 31 March 2026.
The same amount appears in Evergreen Foundation’s capital account: the administrator credited the wrong investor.
Composition
2 items- Contributions proven by the bank4 receipts from Cedar Family Office SA€1,290,123.40
- Contributions on the administrator’s statement31 Mar 2026−€1,055,555.51
The 2 items add up to this figure to the cent.
Sources behind this figure
Lumen Growth Partners - bank 2025.staline 3
:61:2501200120C351851,84NTRFCALL1-LP-003//BK250003 :86:?32Cedar Family Office SA?20CALL1 LP-003
Lumen Growth Partners - bank 2025.staline 8
:61:2505150515C234567,89NTRFCALL2-LP-003//BK250008 :86:?32Cedar Family Office SA?20CALL2 LP-003
Lumen Growth Partners - bank 2025.staline 13
:61:2510101010C469135,78NTRFCALL3-LP-003//BK250013 :86:?32Cedar Family Office SA?20CALL3 LP-003
Lumen Growth Partners - bank 2026.csvrow 4
2026-02-12;2026-02-12;Cedar Family Office SA;CALL4 LP-003;;234567.89;EUR
Lumen Growth Partners - capital accounts Q1 2026.xlsxCapital accounts, row 21
2026-03-31 LP-003 Cedar Family Office 2345678.91 1055555.51 -117283.95
Distribution paid on 25 Jun 2026 to Brightwater Endowment Trust, missing from the statement
Information and evidence
€150,000.00
How this figure is obtained
Distributions paid to Brightwater Endowment Trust, read from the bank statement, compared with its capital account statement at 30 June 2026.
Composition
2 items- Distributions paid, per the bank20 Mar and 25 Jun 2026€400,000.00
- Distributions on the administrator’s statement30 Jun 2026−€250,000.00
The 2 items add up to this figure to the cent.
Sources behind this figure
Lumen Growth Partners - bank 2026.csv
2026-03-20;2026-03-20;Brightwater Endowment Trust;DIST1 LP-002;250000.00;;EUR
Lumen Growth Partners - bank 2026.csv
2026-06-25;2026-06-25;Brightwater Endowment Trust;DIST2 LP-002;150000.00;;EUR
Lumen Growth Partners - capital account statements Q2 2026.pdf
Distributions (0.00) (250,000.00)
Fees at 2.00% instead of the 1.50% the LPA sets · Delta Insurance plc
Information and evidence
€18,978.53
How this figure is obtained
Management fees recomputed quarter by quarter from the approved LPA terms and the investor’s commitment.
Composition
3 items- Fees charged by the administratorCumulative at 30 Jun 2026€229,000.54
- Fees due under the LPA2.00% in 2025, 1.50% from 1 Jan 2026, ACT/365−€210,021.99
- Rounding, reported as a separate difference−€0.02
The 3 items add up to this figure to the cent.
Sources behind this figure
Lumen Growth Partners - LPA.pdfclause 8.1
8.1 The Management Fee shall be equal to 2.00% per annum of Commitments from 1 January 2025 until 31 December 2025, and thereafter 1.50% per annum of Commitments from 1 January 2026.
Lumen Growth Partners - capital account statements Q2 2026.pdf
Management fees (38,166.76) (229,000.54)