Overview
Fund ManagementTransactionsScenariosMulti‑CurrencyAI Documents
API ReferenceComprehensive
Complete Guide

Fund Management

Master the art of fund creation, configuration, and lifecycle management in Nagare. This comprehensive guide covers everything from your first fund to advanced portfolio strategies.

In This Guide

→ Introduction to Fund Management→ Creating Your First Fund→ Understanding Fund Parameters→ Fund Types and When to Use Them→ Viewing and Managing Funds→ Updating Fund Parameters→ Fund Lifecycle Stages→ Best Practices→ API Examples→ Troubleshooting

01Introduction to Fund Management

Fund Management is the core of Nagare's portfolio intelligence platform. A fund represents a single investment vehicle—whether it's a venture capital fund, private equity buyout fund, real estate fund, or even a public market portfolio.

Key Concept: Master Parameters

Each fund has a MASTER parameter set that defines its baseline characteristics (commitment size, vintage year, expected returns, fee structure, etc.). This master definition serves as the foundation for all forecasting and scenario analysis.

What You Can Do with Funds

Create & Configure

Define fund structure, commitment size, vintage year, and performance targets

Track Actuals

Upload historical transactions from capital statements to track real performance

Project Cashflows

Generate quarterly projections for capital calls, distributions, and NAV

Create Scenarios

Model what-if scenarios with different assumptions (bear case, base case, bull case)

02Creating Your First Fund

Creating a fund in Nagare is straightforward. You can do it through the web interface or programmatically via the API.

Via Web Interface

1

Navigate to the Funds page from the left sidebar

Funds page
2

Click the "New Fund" button in the top right

3

Fill out the fund creation form with your fund details

Fund creation form
4

Click "Create Fund" to save (or "Save as Draft" to save without activating)

Pro Tip: AI Document Upload

You can also create funds by uploading a PDF document (PPM, fund deck, capital statement). Nagare's AI will extract fund parameters automatically and pre-fill the form. Click the "Upload Fund Document (PDF)" tab in the creation dialog.

Via API

For programmatic access or bulk fund creation, use the REST API:

POST /api/v1/fundsBRONZE
curl -X POST https://api.nagarehq.com/api/v1/funds \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "fundId": "ACME-GROWTH-I",
    "fundName": "Acme Growth Fund I",
    "firmName": "Acme Capital",
    "fundType": "GROWTH_EQUITY",
    "currency": "USD",
    "vintage": 2024,
    "status": "DEPLOYING",
    "parameters": {
      "totalCommitment": 50000000,
      "investmentLines": 20,
      "startDate": "2024-01-01",
      "duration": 10,
      "extension": 2,
      "targetGrossTVPI": 3.0,
      "managementFee": 0.02,
      "hurdleRate": 0.08,
      "carriedInterest": 0.20,
      "commitmentDate": "2024-01-01"
    }
  }'

The API will return the created fund with a generated parameterIdfor the MASTER parameters:

Response: 201 Created
{
  "fundId": "ACME-GROWTH-I",
  "fundName": "Acme Growth Fund I",
  "firmName": "Acme Capital",
  "fundType": "GROWTH_EQUITY",
  "currency": "USD",
  "vintage": 2024,
  "status": "DEPLOYING",
  "parameterId": "ACME-GROWTH-I-MASTER-v1",
  "parameters": {
    "totalCommitment": 50000000,
    "investmentLines": 20,
    "targetGrossTVPI": 3.0,
    "managementFee": 0.02,
    ...
  },
  "tenantId": "your-tenant",
  "createdAt": "2024-01-15T10:30:00Z",
  "updatedAt": "2024-01-15T10:30:00Z"
}

03Understanding Fund Parameters

Fund parameters are the heart of Nagare's forecasting engine. They define how capital will be deployed, when exits are expected, what returns are targeted, and how fees are calculated.

Core Parameters

Total Commitment

Required

The total committed capital to the fund (in fund currency). This is the maximum amount that can be called from LPs.

Example: 50000000 (= $50M)

Investment Lines

Required

Number of portfolio companies expected to be invested in. Used to calculate deployment pacing and diversification.

Example: 20 (VC), 8 (Buyout), 50 (Real Estate)

Target Gross TVPI

Required

Target Total Value to Paid-In multiple (gross of fees). This is the primary return metric.

Example: 3.0 (= 3.0x, meaning $3 returned for every $1 invested)

Duration & Extension

Required

Fund life in years (duration) plus optional extension period. Together they define the fund's total lifespan.

Example: duration=10, extension=2 (10+2 year fund)

Management Fee

Optional

Annual management fee as a decimal (charged on committed capital during investment period, then on NAV).

Example: 0.02 (= 2% per year)

Carried Interest & Hurdle

Optional

Percentage of profits (carry) paid to GP after clearing the preferred return (hurdle rate).

Example: carriedInterest=0.20 (20%), hurdleRate=0.08 (8%)

Advanced Parameters (Private Equity)

For PE funds (VC, Buyout, Growth Equity), you can specify detailed deployment and exit curves:

Example: Custom Deployment Curve
"deploymentCurve": [
  { "quarter": 1, "percentDeployed": 0.05 },
  { "quarter": 2, "percentDeployed": 0.10 },
  { "quarter": 3, "percentDeployed": 0.15 },
  { "quarter": 4, "percentDeployed": 0.20 },
  { "quarter": 5, "percentDeployed": 0.25 },
  { "quarter": 6, "percentDeployed": 0.15 },
  { "quarter": 7, "percentDeployed": 0.08 },
  { "quarter": 8, "percentDeployed": 0.02 }
]
Example: Custom Exit Curve
"exitCurve": [
  { "quarter": 12, "percentExited": 0.05 },
  { "quarter": 16, "percentExited": 0.10 },
  { "quarter": 20, "percentExited": 0.15 },
  { "quarter": 24, "percentExited": 0.20 },
  { "quarter": 28, "percentExited": 0.25 },
  { "quarter": 32, "percentExited": 0.15 },
  { "quarter": 36, "percentExited": 0.08 },
  { "quarter": 40, "percentExited": 0.02 }
]

Default Curves

If you don't provide custom curves, Nagare will generate industry-standard curves based on fund type: VC (J-curve, 5-year investment period), Buyout (3-year deployment, 7-year harvest), Real Estate (even deployment, gradual harvest).

04Fund Types and When to Use Them

Nagare supports a wide range of fund types, each with specialized modeling logic:

Private Equity

VENTURE_CAPITAL

Early-stage startups. Long J-curve, 5-7 year investment period, high risk/return (2.5-4.0x TVPI).

GROWTH_EQUITY

Growth-stage companies. Moderate J-curve, 3-5 year investment period (2.0-3.0x TVPI).

BUYOUT

Leveraged buyouts. Short deployment (2-3 years), 5-7 year hold (1.8-2.5x TVPI).

SECONDARY

Secondary market transactions. Fast deployment, shorter hold period (1.5-2.0x TVPI).

Real Assets

REAL_ESTATE

Commercial/residential property. Gradual deployment & harvest, yield + appreciation (1.5-2.5x TVPI).

INFRASTRUCTURE

Long-term infrastructure projects. Stable cashflows, long duration (1.3-1.8x TVPI).

Credit

PRIVATE_CREDIT

Direct lending, distressed debt. Regular interest + principal, lower risk (1.3-1.6x TVPI).

Public Markets

PUBLIC_EQUITY

Stocks, ETFs. Modeled with annual growth rate + dividend yield.

PUBLIC_DEBT

Bonds, treasury securities. Fixed coupon payments + principal return.

Mixed Portfolios

You can mix different fund types in a single portfolio. Nagare will aggregate them correctly, converting currencies and handling different cashflow patterns seamlessly.

05Viewing and Managing Funds

Once you've created funds, you can view, search, filter, and drill into detailed analytics.

Fund List View

The main Funds page shows all funds in a table with key metrics:

  • →Fund Name & ID: Clickable to view details
  • →Type: Fund type badge (VC, Buyout, etc.)
  • →Currency: Base currency
  • →Vintage: Year of first close
  • →Commitment: Total committed capital
  • →Status: Lifecycle stage (Draft, Fundraising, Deploying, Harvesting, Closed)
Funds list view

Filtering & Search

Use the filters at the top to narrow down funds:

Search

Search by fund name or ID

Fund Type

Filter by VC, Buyout, RE, etc.

Status

Filter by lifecycle stage

Fund Details View

Click any fund to see its detailed view with:

Fund details view
1

Overview Tab

Key metrics, commitment, vintage, TVPI target, cashflow chart

2

Projections Tab

Quarterly projections table (capital calls, distributions, NAV, IRR)

3

Transactions Tab

Historical actuals uploaded from capital statements

4

Actuals Tab

Blended view combining historical actuals + future projections

5

Analysis Tab

Variance analysis (plan vs actual), forecast drift detection

6

Documents Tab

Linked PDFs (PPMs, capital statements) with AI search

7

Parameters Tab

View/edit MASTER, FORECAST, BASELINE parameters

8

Data Timeline Tab

Version history showing all parameter changes over time

06Updating Fund Parameters

Fund parameters can be updated as your assumptions change. Nagare uses a versioned parameter systemto track all changes over time.

How Versioning Works

When you update a fund, Nagare creates a new version of the MASTER parameters and marks the old version as inactive. This preserves historical context and enables time-travel analysis ("What did we forecast in Q3 2023?").

Via Web Interface

1

Navigate to the fund details page

2

Click the "Edit" button in the top right

3

Modify the parameters you want to change

4

Click "Save Changes" to create a new version

5

Click "Recalculate" to update projections with new parameters

Via API

Use the PUT endpoint to update fund parameters:

PUT /api/v1/funds/:fundIdNAVY
curl -X PUT https://api.nagarehq.com/api/v1/funds/ACME-GROWTH-I \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "parameters": {
      "targetGrossTVPI": 3.5,
      "investmentLines": 25
    }
  }'

The API will create a new parameter version (v2, v3, etc.):

Response: 200 OK
{
  "fundId": "ACME-GROWTH-I",
  "parameterId": "ACME-GROWTH-I-MASTER-v2",
  "version": 2,
  "parameters": {
    "targetGrossTVPI": 3.5,
    "investmentLines": 25,
    ...
  },
  "updatedAt": "2024-02-10T14:20:00Z"
}

Recalculation Required

After updating parameters, you must trigger a recalculation to update projections. The UI does this automatically, but via API you need to call the calculation endpoint explicitly.

07Fund Lifecycle Stages

Funds progress through several lifecycle stages. Understanding these stages helps you manage your portfolio effectively.

DRAFT

Draft

Initial state. Fund is being configured but not yet active. Not included in portfolio calculations.

FUNDRAISING

Fundraising

Raising capital from LPs. Commitment amount may still be changing. Included in portfolio with projected commitment.

DEPLOYING

Deploying

Actively making investments. Capital calls are frequent. Commitment is final. Projections show J-curve effect.

HARVESTING

Harvesting

Exiting investments. Distributions exceed capital calls. NAV peaks then declines. Portfolio returns materialize.

EXTENSION

Extension

In extension period. Final exits occurring. Most distributions complete. Tail-end portfolio companies remain.

CLOSED

Closed

Fund is fully liquidated. All investments exited. Final distributions made. Historical record only.

INACTIVE

Inactive

Fund has been deactivated (soft deleted). Not shown in default views. Can be restored if needed.

Automatic Stage Transitions

You can manually set the status when creating/editing a fund. Nagare can also auto-update status based on actual transactions (e.g., first capital call → DEPLOYING, final distribution → CLOSED).

08Best Practices

Use Descriptive Fund IDs

Use a consistent naming scheme like FIRM-STRATEGY-VINTAGE(e.g., "ACME-GROWTH-2024", "BRK-BUYOUT-2023"). This makes funds easily identifiable in reports and APIs.

Start with Conservative Targets

When creating new funds, use conservative TVPI targets based on historical benchmarks for that strategy. You can always update them as performance materializes. Better to exceed expectations than miss them.

Upload Actuals Quarterly

As you receive capital statements each quarter, upload the actual transactions immediately. This keeps your blended actuals+projections view accurate and enables powerful variance analysis.

Use FORECAST Parameters for Custom Projections

The MASTER parameters define the fund's baseline. If you need custom deployment schedules or exit timing for a specific fund (not scenario-wide), create FORECAST parameters with detailed curves.

Tag Funds for Better Organization

Use tags to categorize funds (e.g., "GP Stakes", "Co-Investments", "Secondaries", "Mature", "Young"). This enables powerful filtering and custom portfolio views.

Document Assumption Changes

When updating fund parameters, consider adding a note in your internal documentation explainingwhy the assumptions changed (e.g., "Manager lowered TVPI target based on H1 2024 performance").

09API Examples

Here are complete, real-world API examples for common fund management tasks:

List All Funds

GET /api/v1/fundsSAGE
curl -X GET "https://api.nagarehq.com/api/v1/funds?page=1&limit=20&sort=vintage" \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY"

Get Specific Fund

GET /api/v1/funds/:fundIdSAGE
curl -X GET https://api.nagarehq.com/api/v1/funds/ACME-GROWTH-I \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY"

Delete Fund (Soft Delete)

DELETE /api/v1/funds/:fundIdRED
curl -X DELETE https://api.nagarehq.com/api/v1/funds/ACME-GROWTH-I \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY"

Soft Delete

DELETE sets the fund status to INACTIVE. The fund and its data remain in the database but are hidden from default views. You can restore it by updating the status back to an active state.

Get Blended Actuals + Projections

The blended view combines historical actuals (from transactions) with future projections, giving you a complete picture of a fund's lifecycle:

GET /api/v1/funds/:fundId/blendedSAGE
curl -X GET https://api.nagarehq.com/api/v1/funds/ACME-GROWTH-I/blended \
  -H "Authorization: Bearer fnd_live_YOUR_API_KEY"

Returns quarterly data with dataSource field indicating whether each quarter is from ACTUAL (transactions) or FORECAST (projections).

10Troubleshooting

Fund creation fails with validation error

Common causes: Missing required fields (totalCommitment, investmentLines, targetGrossTVPI), invalid fund type enum, negative numbers for commitment/lines.

Solution: Check API response for specific validation errors. Ensure all required parameters are present and use valid enum values from the API documentation.

Projections don't update after editing fund

Cause: Updating fund parameters creates a new version but doesn't automatically recalculate.

Solution: After updating via API, trigger a calculation by creating/updating a scenario that includes this fund. In the UI, click the "Recalculate" button.

Cashflow chart shows unexpected spikes or gaps

Common causes: Custom deployment/exit curves don't sum to 1.0, missing quarters in custom curves.

Solution: Ensure custom curves cover all deployment/exit periods and percentages sum to ~1.0. Check the Parameters tab to verify your curves.

Target Net TVPI seems incorrect

Cause: Net TVPI is auto-calculated from Gross TVPI minus fees (management fee, carried interest).

Solution: This is expected behavior. Net TVPI typically ~85% of Gross TVPI for standard 2/20 fee structure. Verify your fee parameters if the discount seems too large.

Can't find a fund I created

Common causes: Fund status is DRAFT or INACTIVE, or fund is in different tenant.

Solution: Check the status filter dropdown. Click "All Statuses" to show drafts and inactive funds. Verify you're in the correct tenant (check top-right tenant selector).

Ready to Master Your Portfolio?

Now that you understand fund management, explore other powerful features like scenario modeling, Monte Carlo simulations, and AI-powered document analysis.

Next: Scenarios & Forecasting →View API Reference← Back to Docs Home