Migrate Your
SPVs & Funds to
Verivend

Verivend is the painless, paperless, and effortless way to raise and deploy capital that eliminates the friction for investment sponsors and their investors.

If you are looking to migrate from your current administrator, Verivend has you covered with our payments-first platform that fully automates capital flow management and reconciliation.

The following outlines the information and steps to successfully migrate your SPV or Fund from your current administrator to Verivend.

Contact us to discuss immediate and seamless support for your migration needs.

Entity Onboarding

The following information is required to complete the initial onboarding of the entity on the Verivend platform.
Verivend does not provide entity formation services and does not take over the management of entities.

Entity Tax ID
United States Federal 9-Digit Tax Identification Number

Entity formation type
Partnership, LLC, LLP, Corporation

Entity contact information
Mailing Address & Phone Number

Estimated dollar volume of transactions
Capital calls + closings/exits/distributions

Estimated number of transactions
Capital calls + closings/exits/distributions

Entity organization document
Electronic or scanned version of partnership agreement/articles of incorporation/certificate of formation

Beneficial Owner Information (if applicable)
For each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, owns 25% or more of the equity interests of the legal entity, including full name, date of birth, address, social security number and a photo or scan of state-issued ID OR passport number, issuing country, expiration date

Individual Information (can be same as Beneficial Owner)
For one individual with significant responsibility for managing the legal entity, such as: an executive officer or senior manager (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, Treasurer); or any other individual who regularly performs similar functions, including full name, date of birth, address, social security number and a photo or scan of state-issued ID OR passport number, issuing country, expiration date


Onboarding

Entity Setup

The following information, while not all required, is used to complete the operational setup of the entity on the Verivend platform.


Setup

Investor & LP Data
Can be entered directly into the Verivend application or imported via file upload for all Investors & LPs who are part of the Entity.

Entity Room(s)
Can be created to securely store and share announcements and documentation with Investors & LPs who are part of the Entity. Announcements and Documents can be shared with all Investors & LPs or privately with individual Investors & LPs.

Capital Call Data
Can be entered directly into the Verivend application or imported via file upload for in-progress or upcoming capital fundraising.

Distribution Data
Can be entered directly into the Verivend application or imported via file upload for in-progress or upcoming closing, exit, or distribution payments.

Entity Funding

If any existing funds for the entity need to be transferred, the process can be facilitated with one of the following options, which will migrate funds into the entity’s secured Verivend Digital Wallet.

Option 1 - Digital Wallet Deposit via ACH
1. Entity links bank account to Verivend where funds currently reside using ABA/Routing Number and Account Number.
2. Entity deposits desired amount of funds into their dedicated and secured Digital Wallet and transfer is completed via ACH debit from linked bank account.

Option 2 - Funds Transfer via Wire
1. Verivend provides wire transfer instructions directly to current SPV/Fund Administrator.
2. Current SPV/Fund Administrator wires funds to Verivend.
3. Verivend reconciles incoming wire transfer and remits funds to Entity’s dedicated and secured Digital Wallet.


Funding