A fund closing its first capital call cycle
A walkthrough of how a venture fund issues and tracks a capital call across its LPs. This is a hypothetical scenario, not a real fund's account.
Issuing the call
Consider a Category II AIF ready to deploy into a new portfolio company. The fund manager needs to call capital from a dozen LPs, each with different commitment amounts. Done manually, this typically means drafting individual notices, emailing each LP, and tracking who has paid in a spreadsheet — a process that commonly takes a finance team two to three days per call, with reconciliation errors a real risk when contributions arrive on different days.
- 1A capital call notice is issued digitally to all LPs at once, calculated against each LP’s commitment
- 2Each LP sees their own call amount and due date without needing to email the fund manager to confirm it
Tracking responses to close
As LPs respond, payments need to be matched against the right commitment and reflected in the fund's records without a manual reconciliation pass. With most LPs responding within the notice period and a few following up closer to the deadline, the fund manager needs an at-a-glance view of who has paid and who hasn't — without a separate spreadsheet being maintained alongside the bank statement.
- 1Payments are tracked against each LP’s call as they arrive
- 2The fund manager sees, at a glance, how much of the call has been received and from whom
- 3Once fully funded, the capital call is reconciled against the fund’s records automatically
Is this a real fund’s story?
No. This is an illustrative, hypothetical walkthrough describing a common fund-operations workflow — not an account of a specific named fund or LP.
Does Folio support Category I and Category II AIFs?
Yes — Folio supports Category I and Category II Alternative Investment Funds registered with SEBI, including venture capital funds and SME funds.
Want to see this with your own fund structure?
Book a demo and we'll walk through how capital calls and LP reporting would work for your fund.