Issue and track capital calls | Covercy

Fundraising

Issue and track capital calls

Create a capital call against a holding's positions, find it again in the holding's Contributions tab, and drive each investor's funding request from Not Called to Invested.

By the end of this guide you'll be able to create a capital call against a holding's positions, find that call again days or weeks later, drive each investor's funding request from Not Called to Invested, and correct or remove a call when plans change.

Note

Issuing and tracking capital calls is a GP task. You need access to your firm's workspace and to the holding the call belongs to, and the holding needs at least one position. Have the bank account you want investor funds sent to already set up under Banking before you start, so you can pick it on the call.

Create a capital call

A capital call is its own record on a holding, not a fundraise and not a fundraise type. You create it against the holding's existing positions — any live position, whatever its origin, including positions that arrived by import — and a single call can span more than one share class. You start it from the holding's Contributions tab.

Open the holding and go to its Contributions tab.
Open the New menu and choose Capital Call. The same menu also offers Fundraise and Import Contributions.
Confirm the holding and give the call a Call Name. The name is yours to choose — it's what identifies the call everywhere it appears, so name it the way you'd describe it to your team.
Narrow which positions the call applies to, if you want to: use Call From to limit it to commitments from one earlier raise, and Share Classes to limit it to particular classes. Leave both at their defaults to work with every position on the holding, however each one came to exist.
In the Call Amount panel, choose how each position's requested amount is worked out — Target % (bring every investor up to the same contribution percentage of their commitment), (a share of what's still uncalled), or (a total to distribute) — enter the rate or amount, then choose to allocate it across the positions.

Related articles

Is a capital call a type of fundraise?: No. A capital call is its own record on a holding, created against the holding's existing positions. It isn't raised from a fundraise and isn't reachable through one. A fundraise decides when money is due; it never decides that a capital call exists. If you previously set up capital calls by choosing a Capital call option when creating a fundraise, that route no longer exists — start from the holding's Contributions tab instead.
Can I call capital on positions that were imported rather than raised in Covercy One?: Yes. The position picker lists every live position on the holding, however it came to exist — from an opportunity, from an import, or entered directly — and shows each one's uncalled commitment so you can judge what to include. A position that is fully called still appears, with an uncalled commitment of zero. You never have to create a raise that didn't happen in order to ask for money.
Can one capital call cover more than one share class?: Yes. A capital call is anchored to the holding, not to a share class, so one call can address positions across several classes. It isn't split into one call per class. Use the Share Classes filter on the creation form if you want to narrow it to particular classes.
Where do I open the Capital Call drawer?: Click a request's row on the capital call's own page, or a funding-request row in the detailed view of the holding's Contributions tab. Clicking anywhere on the row outside its row menu opens the drawer — there's no separate open button to look for.
Does signing an opportunity create a capital call?: No. Reaching Signed creates the investor's position and nothing else — no capital call and no payment request, whichever fundraise type the raise uses. The investor is asked for money when you send the request, or when they reach the payment step themselves.
Can I send a payment request to a signed investor who has no request yet?: Yes. Send Payment Request works on a signed opportunity that carries no funding request — it creates the request and sends the email in one step. You don't need to create anything first, and you don't need a capital call to do it.
Why is Send Call disabled?: Send Call and Mark Called (no email) stay disabled until the capital call itself has a receiving bank account. The gate reads the call's own account and will not fall back to a fundraise's or the holding's account. Hover the control for the exact reason, or open the call's page — it states the missing account at the top and offers the action that sets it. Setting up banking is covered under Banking & payments.
Can I change a call's receiving bank account after I've sent requests?: No. The receiving account is editable only while every request on the call is still Not Called; once any request has been sent, it's locked, because the investors who received it were given those bank details. Revert the sent requests to Not Called if the destination genuinely has to change.
Can I delete a capital call?: Only while every one of its requests is still Not Called. The delete removes the call with all of its requests and restores each position's uncalled commitment. If any request has been sent, the delete is refused with the request that blocks it named; revert that request first and the delete becomes available again.
Can I still edit a call amount after I've sent it?: Yes, but you'll be asked to confirm reverting the request to Not Called first, which voids any payment link already issued. This applies once a request is Called, Transferred, or Invested, and keeps a sent request's figures from changing without an explicit, confirmed step.
If I defer or exclude an investor, can changing the call amount put them back in?: No. Call Now, Call Later, and Exclude are yours to set and survive re-allocation. Changing the call amount or the mode and allocating again leaves every status you chose untouched, and a deferred investor is not sent a payment request when the call is created.
Why doesn't the Commitment Summary appear in some capital call emails?: It's omitted when the call covers the investor's entire commitment, since the breakdown would repeat the amount due, and when the commitment figures aren't available for that position. The figures resolve from the request's own position and the call issuing it, so how the commitment was originally collected — including a commitment migrated from the legacy Covercy system — doesn't suppress the breakdown.
If I select only some investors when sending in bulk, will other requests for the same investor also go out?: No. A bulk send only sends and transitions the specific rows you selected. Any other unsent requests you didn't select are left untouched.