Onboard an investor

Steps

1. Open a subscription packet. Choose the investor and assign their authorized signatory. The packet starts in draft with a document checklist — subscription document, tax form, KYC/AML, and source of funds — and the fund’s review chain as it stands that day.
2. Send it to the LP and collect the signature. The LP completes and submits the packet in the portal, and the assigned signatory signs it through the e-signature integration. Signing comes before review: the reviewers look at the executed document. It is stored with its signing evidence — the timestamp and, where the e-signature integration supplies them, the signer’s IP address, device, and authentication method.
3. Review it, stage by stage. Once signed, the packet moves through the fund’s review chain in a fixed order: legal, accounting or fund administration, tax, compliance/KYC, then GP approval. Reviewers are not assigned per packet; each stage is decided by the roles the chain names for it. By default those are legal counsel, a fund accountant or fund administrator, a tax advisor, a fund administrator, and the fund manager. Legal counsel and tax advisors can decide only on funds they are engaged on. A stage opens once every earlier stage is approved, waived, or not required, and each decision records who made it and when, with an optional note. A denial at any stage denies the packet.
4. Activate the commitment. After GP approval, the fund manager activates the commitment, which makes the packet’s amount a binding commitment in the fund.
5. Track filings. Record the fund’s Form D and each state blue-sky notice filing — jurisdiction, due date, status, and confirmation number — on the fund’s filings page. Blue-sky filings are added by hand: investor records don’t yet carry a domicile, so NAVdryx can’t build the list of required states for you.

Configure a fund's review chain

Each fund can set its own chain on its Subscriptions page. The order of the stages is fixed; for each stage, the fund manager chooses:

• Required: whether the stage runs at all. A stage that is switched off shows as “not required” on new packets. Compliance/KYC and GP approval are always required.
• Decided by: which roles may decide it, from the roles your organization allows to review subscription packets. GP approval is always the fund manager’s.
• Waivable: whether the fund manager may skip the stage on a particular packet, with a recorded reason. GP approval can never be waived, and compliance/KYC can be waived only once someone other than the fund manager waiving it has marked the packet’s KYC item received with its document attached. A waived compliance/KYC stage locks that KYC item until the packet is reopened.
• Separate reviewer: whether the person deciding the stage must be someone who neither created the packet nor decided an earlier stage of it.

NAVdryx refuses a chain that would leave a required, non-waivable stage with nobody able to decide it on that fund, or that needs more separate reviewers than the fund has, and refuses to create a packet against such a chain. Each packet keeps the chain it was created with, so changing the settings affects new packets only.

When one person could complete every stage — a fund manager working alone, say — the chain is allowed and the Subscriptions page says so. A packet approved that way is marked self-reviewed on its GP approval and on its commitment activation, in the audit trail and on the packet page.

Reopen a packet

Reopening is an action on the packet, available while it is in review, after a denial, or after GP approval to anyone who can work on the fund’s packets — counsel and tax advisors only on a fund they are engaged on. You choose the stage to reopen from: one that has been decided, or comes before a decided stage, and never one after a denial. That stage and every later one go back to pending and are reviewed again under the fund’s current review rules. The decisions being cleared are kept in the audit trail, along with your reopen note, and NAVdryx refuses a reopen that would leave a stage nobody on the fund can decide.

Why signatory status matters

Only a contact designated as an authorized signatory can execute the subscription. This is enforced at the workflow gate, not left to whoever happens to have the link — a non-authorized contact’s attempt to execute is blocked and recorded in the audit trail. See Investors and commitments for how signatory roles are set up on the investor record in the first place.