Meet Neo, your AI-powered Co-GP.
“We moved our fund admin over expecting months of pain. It took weeks, and now our back office actually connects to how we raise capital and pay investors.
Leitbox Portfolio Partners
Every contribution, distribution, fee, and valuation posts to a live capital ledger in Covercy One, and our fund administration team keeps the books around it, so your capital accounts, NAV, and investor statements are always current.
| Date | Event | Posts to | Amount |
| Jul 01 | Capital call #4 | Contributed capital | $1,000,000 |
| Jul 15 | Q3 management fee | Management fees | ($43,750) |
| Aug 12 | Q2 distribution | Return of capital | ($150,000) |
| Aug 12 | Q2 distribution | Preferred return | ($210,000) |
| Sep 30 | Q3 NAV approved | NAV · $1,120 per unit | $7,840,000 |
| Capital account | Units | Contributed | Distributed | NAV |
| Brightwater Capital LLC | 2,100 | $2,100,000 | $315,000 | $2,352,000 |
| Cedar Point Partners | 1,400 | $1,400,000 | $210,000 | $1,568,000 |
| Alder Family Trust | 1,050 | $1,050,000 | $157,500 | $1,176,000 |
| 12 other investors | 2,450 | $2,450,000 | $367,500 | $2,744,000 |
Statements, valuations, and fees for your syndications and funds, all reading from one live capital ledger.
The platform keeps every investor’s capital account current; our fund administration team keeps the books around it.
The platform proposes and records; you stay in control of the numbers your investors see.
See how Neo worksCovercy One proposes each period’s management fees from your fee terms. Nothing is recorded until you approve it.
Approve each period’s valuation, with the reason on record, and NAV updates everywhere.
Decide whether the capital account statement is included in each report package before you publish.
Neo can ground report narratives in the holding’s total capital account, so updates match the books.
Private fund accounting tracks what each investor owns, what the fund is worth, and how every dollar moved, so general partners (GPs) can report to their limited partners (LPs) with confidence. Here is how the pieces fit together on Covercy.
Fund accounting keeps a capital account for every investor: what they committed, contributed, and received, plus their share of fees, expenses, and changes in value. In Covercy One that capital account is a live ledger, updated as each event happens, while our fund administration team keeps the fund’s general ledger and books.
Net asset value (NAV) is what the fund is worth on a given date: the fair value of its assets minus its liabilities. Divide NAV by the units outstanding and you get NAV per unit, the value of each investor’s position. Our fund administration team calculates NAV each period, and Covercy One carries it into performance, statements, and the investor portal with every valuation dated and explained.
A trial balance lists every general-ledger account and its balance so debits and credits can be checked before financial statements are prepared. Our fund administration team prepares the trial balance, reconciliations, and financial statements, and they tie back to the investor capital accounts in Covercy One.
Your CPA files the fund’s tax returns once a year. Fund accounting runs all year: recording activity, valuing the fund, allocating fees and expenses, and producing investor statements. Clean, current books make tax season faster for your CPA and keep your investors informed between filings.
“We moved our fund admin over expecting months of pain. It took weeks, and now our back office actually connects to how we raise capital and pay investors.
Leitbox Portfolio Partners“Our fund administration finally keeps up with us. NAV, investor reporting, and distributions are handled in one place, and our LPs notice the difference.
ProterraThe complete Covercy One platform plus the Covercy Fund Administration team: fund accounting, NAV, fee calculations, tax and audit support. Priced for your fund, with unlimited team members.
Custom pricing
Talk to salesFund accounting runs on the same records as your fund administration, investor portal, and distributions.
Institutional-grade NAV, bookkeeping, tax, and K-1s, delivered inside the same platform.
ExploreGive LPs a branded portal for positions, documents, reporting, and capital accounts.
ExploreCalculate, approve, and pay distributions to the cent, then reconcile automatically.
ExploreThe AI layer that drafts investor updates, runs reports, and automates workflows across Covercy One.
Explore