Issue a capital call

Before you start

You need the fund’s investor registry and commitments in place. See Investors and commitments if you haven’t set those up yet.

Before the first call, also check three things on the fund:

• The receiving account. The fund’s receiving wire instruction is active on its Wire instructions tab. Without exactly one active receiving instruction, LPs are told to call for wire instructions.
• The call-back number. LPs are told to call it before every payment. Without one, they are told to call their fund contact on a number they already know. See Issue a distribution for how the number is changed.
• The LP emails. Which contacts get the notice email, and whether it includes the amount, the due date, and the PDF. See Set up LP emails.

Steps

1. Draft the call. Choose the fund and the event type, then enter an allocation row — the investor and the amount — for each LP the call applies to. NAVdryx doesn’t yet split a call pro rata by commitment for you, so work out each LP’s share before you enter it.
2. Review. Submit the call for review, and check the allocation rows against your own calculation before anyone signs off. A capital call has no generated workpaper.
3. Approve. The approval is audit-logged, along with who approved it and when. The person who prepared the call can’t approve it. From approval on, the Deliverables card offers the allocation schedule (xlsx), the allocations CSV, and a notice PDF for each LP. Per-LP notice packages are not yet available.
4. Issue notices. “Issue notices” moves the call to the notice stage and generates each LP’s notice PDF, each with its own verification code. LPs see nothing yet. Review the PDFs from the Deliverables card, where each LP link is now the issued PDF itself (the card needs review access to capital activity, which a fund accountant doesn’t hold). If something is wrong, “Regenerate notices” renders every LP’s notice again with new codes, and the earlier ones are superseded. You can regenerate only while the call is at the notice stage.
5. Send to LPs. The “Send to LPs” form shows Email to LPs, filled in from the fund’s LP email settings. Change it for this send if you need to; what you choose is recorded with the send. Sending delivers each LP’s notice to its portal, sends one email to each contact the settings choose, and sends one push notification to each of its portal users who use the mobile app. Sending is refused while any LP allocation lacks an issued notice, and it can’t be undone.
6. Track who has read it. The Allocations table now shows, for each LP, when the notice was issued and sent, how many of the investor’s portal contacts opened it and when it was first opened, and how many times it was downloaded. “Download read receipts (CSV)” exports the same figures.
7. Track settlement. As wires arrive, reconcile them against the call — see Reconcile a bank account.

Issuing, regenerating, and sending need edit access to capital activity: fund manager, fund controller, fund accountant, or fund administrator by default. Only LP allocations get a notice; GP and management-company allocations don’t. The fund’s wire instructions are field-level encrypted and carry their own dual-control change history. NAVdryx never executes the wire itself. See Capital activity for the full lifecycle a call moves through, from draft to reconciled.

What the LP sees

LPs see the call from the moment it is sent. Its page in the portal shows the LP’s own amount, the due date, the status, a link to download the notice PDF, and the notice’s verification code. Opening the page records the read receipt. The notice PDF says that wire instructions are only in the secure portal, and that it contains no bank details.

While the call is at the sent stage, the page also shows the wire instructions:

• A fixed warning, naming the call-back number: the fund never sends or changes wire instructions by email, and the LP should call before every payment.
• The bank and beneficiary, with only the last four characters of each account number. If the instructions changed in the last 30 days, a warning says so.
• “Reveal full details”, which asks for an authenticator code entered in the last ten minutes. An LP without two-factor sign-in sets it up first. The full numbers show for two minutes. Each reveal is audit-logged, and an LP can reveal at most five times an hour. An LP who signs in through single sign-on is told to call for the full numbers instead.

The mobile app shows the warning and the call-back number, never the account details. Once the call is settled or reversed, the wire instructions are no longer shown.

Correcting a call after it is sent

A sent notice can’t be regenerated. Reverse the call instead, and issue a corrected one if it is still needed. The reversal goes through the same steps. When it is sent, each LP gets an email that names it as a reversal and gives no amount or due date. In the portal, the original call says it was reversed, its notice is marked superseded, and its wire instructions are gone.

A call can also be reversed before it is sent. Once it has a reversal, it can’t be sent to LPs: void the reversal first if it is still in draft or review. Past review the two net out and LPs see neither, so the pair is left as the record of what was undone.

If a notice reached the wrong LP, withdraw it from that LP’s portal — see Set up LP emails.