Drawdown Funds

Drawdown Vehicles are the backbone of the alternative investment community. Powered by our proprietary Seamless PREQ software, which monitors and tracks capital commitments, carried interest calculations, and automates the most complex waterfall calculations, our team of fund administration specialists provide you with industry leading NAV turnaround coupled with the highest level of client service. Use CommonSubDoc, our cutting-edge, web-based e-signature onboarding platform, to manage your relationships and capital activity. Why Formidium? Because cutting-edge technology and high-touch client service is the core of everything we do.

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Solutions for PE, RE & VC Funds

Overview

Seamless simplifies your back office by combining multiple programs into one; allowing trades, accruals, and transactions to be uploaded in minutes, generating easy-to-read daily reports. Seamless automates many parts of the fund administration process, reducing manual errors and providing cost savings, allowing buy-side managers to analyze their portfolios and easily view investor balances, P&L, and exposure reports via the web. Seamless also comes with a built-in portal, allowing investors to easily view their balances, tear sheets, and more.

Seamless software, combined with our experienced global staff enables us to provide you with the highest quality fund administration service. We pride ourselves on making the back office as seamless as possible for both you and your investors.

Features

Easy Onboarding

Easy Onboarding

Industry leading on-boarding turnaround time

Clients

Clients

Traditional & non-traditional digital asset managers

Web Delivery

Web Delivery

Access to cutting-edge investor & document management portal

Investor Tracking

Investor Tracking

Track capital commitments, capital calls, distributions & cap table management

Automated Waterfalls

Waterfall Calculations

Ability to manage complex waterfall calculations & fee arrangements

Distribution Support

Distribution Support

Investor distribution calculations and payment

Secure

Secure

Two factor authentication and secure online platform

SOC1/SOC2/SOC3 Audits

SOC1/SOC2/SOC3 Audits

Audits covers professional services, operations and Technology

Transfer Agent

Transfer Agent

We are a regulated transfer agent familiar with investor needs

 AML/KYC

Automated AML/KYC

AML/KYC checks, offshore compliance services

Rate of Return

Rate of Return

Calculation of rates of return within GIPS standards

Exceptional Service

Exceptional Service

Exceptional service from industry veterans

Services

Fund Accounting
  • Transparency and other accounting and portfolio reporting for LPs
  • Fund and investment level accounting on weekly, monthly, and quarterly basis
  • Automated management fees, carried interest, and waterfall calculations
  • Easy historical accounting uploads
  • Preparation of year-end and semi-annual financials in accordance with US GAAP or IFRS
  • Communicate and liaise with auditors
  • Respond to audit queries and adjust financials as needed
Private Equity and Venture Capital Fund Administration
  • Assist with setup and fund launch
  • Automated waterfalls removes reliance on spreadsheets
  • Data and analytics to drive performance
  • Experts who understand your business
  • Robust NAV reporting package
  • Form PF preparation
  • Full transaction ledger of trading and non-trading activity
  • Cash reconciliation and tracking of receivables/payables
  • Adherence to Foreign Account Tax Compliance Act (FATCA)
  • Common Reporting Standard (CRS) compliance
Treasury Services
  • Setup and maintenance of funds bank accounts for capital activity, operations, and distributions
  • Transfer balances for investment activity
  • Complete reconciliation of Bank books
  • Expense budgeting, accruals, and invoice payments
  • Maintain security controls and authorization levels for each counterparty or service provider
  • Facilitate securities finance transactions
  • Optimize the use of margin and collateral balances
  • Manage excess cash balances and sweep vehicles.
Investor Services
  • Customized capital call and distribution notices
  • Subscription and transfer transaction processing
  • AML checks in accordance with fund domicile regulations
  • Serve as main point of contact for investor queries and requests
  • Maintain of investor documents
  • Investor statement preparation and distribution
  • Custom investor reporting
  • Distribute of fund and manager documentation to investors
  • User-friendly secure investor web portal
Audit Support
  • Draft Financial Statements preparation in accordance with GAAP or IFRS
  • Financial highlights and footnotes
  • Liaise and act as main point of contact for Auditors
  • Prepare of cost rollforwards and other supporting reports
  • Distribute audit reports to investors, exchanges, regulators and other parties
Technology Portals
  • Dynamic, user-friendly and intuitive web portals for clients and their investors
  • Securely share fund documentation and client reports with investors
  • Option to white label with client branding
  • In-house development team customizes to meet client needs
  • Built with multiple AWS disaster recovery sites
Product screenshot

SOC 1, SOC 2 & SOC 3 Certified

Our fund services operations are SOC 1 Certified. Seamless Suite and CommonSubDoc are SOC 2 & SOC 3 Certified. Our SOC 2 audit covers cybersecurity testing, DR site testing, data backups, and other similarly important aspects of our tech infrastructure.