Although various other industries have experienced a “renaissance” in tools for the office of the CFO, private capital has lagged behind, according to an update from Carta.
Carta claims that they’re now focused on changing that—and will aim to set the stage for an integrated suite of financial and operational products for the private fund CFO.
Recently, Carta had announced their strategic acquisition of Tactyc, which is is said to be venture’s “best” fund forecasting as well as portfolio construction platform.
Carta is now pleased to welcome Anubhav, Michelle, and Shane, as well as all of Tactyc’s clients and investors to the Carta professional team.
According to the update from Carta, this key acquisition has felt like it was quite “long overdue.”
Carta’s management stated in a detailed blog post about the acquisition that they always tell product managers that your best product ideas “come directly from customers.”
And if that’s the case with product, it is “even more so for integrations and acquisitions.”
Carta also noted that as Anubhav scaled the business over the last few years, Carta’s management said that they’ve had many fund managers ask (or politely tell) them them integrate “Carta data with Tactyc’s portfolio modeling software.”
It’s said to be a testament to the business Anubhav has built and the customer contentment he’s created, and it also “speaks to the power their two products can have together.”
Carta’s management added that they believe that infrastructure for private fund CFOs is lacking in markets right now.
While other industries have experienced a kind of “renaissance” in office of the CFO tools, private capital has “lagged behind,” the team at Carta noted.
As explained in the announcement, a proprietary general ledger has been built and a way for funds to access their portfolio company data through a host of internal tools and APIs, which they think “are two key pieces of the puzzle.”
Tactyc, which has built the FP&A equivalent for private funds, is another.
As mentioned in the update, Carta fund admin clients will soon be able to directly feed portfolio company financial and cap table data as well as general ledger data “into Tactyc’s planning and forecasting tools, allowing funds to make informed, real-time decisions on their fund.”
And over an extended period of time, they’ll aim to expand Tactyc’s existing product to cover management company budgeting and “expand to cover more fund types outside of venture.”
They think this is one step on a long journey to establish “an integrated suite of financial and operational products for the private fund CFO.”
Finally, they couldn’t be more pleased to welcome Anubhav and the Tactyc team into the Carta professional team.
With just a three person professional team, they’ve effectively scaled Tactyc to multiple millions of ARR and “hundreds” of satisfied clients.
According to the update from Carta, they embody so much of what they care about at Carta, and the team is now eager to see what they accomplish from this point onwards.
