Commitments

IMS allows you to plan, request, and collect commitments for new capital raises. This tool can be very helpful when exploring new markets or trying new asset classes. 

Commitments differ from a traditional offering in that you are able to request eSignatures on documents to secure investors commitment to a new deal, but then you have the ability to call capital over time, rather than collecting funds right away.

To use the Commitments feature, you'll need to have a project created in your account with at least one class.  We recommend using the Commitments workflow in a project that has not yet raised any funds.  

There are two options when using the Commitments feature: 

(1) Create a Commitment Offering that can be published on your investor portal and works similarly to the traditional Offering where investors can log into their portals and use the Commitment wizard to sign eSignature documents in order to solidify their commitment

(2) Send Request Commitment emails to your investors, which allows you to control investors' commitments and provides investors a link to access the eSignature document.

 

Below you will find Step-by-Step Instructions for both Commitment workflows.

 

Commitment Offering

Step 1:  Navigate to the Project Summary level of the project, select the Commitments tab and select Create Commitment.

Step 2:  Enter a Name for the Commitment and select Next.

Step 3:  Complete the required fields, which are Goal Amount, Due Date, and Purpose, on the Details page.  You can also complete the non-required fields: Amount Description is an internal note that investors will not see; Minimum Amount and Maximum Amount will display within the Commitment Wizard on the Investor Portal. Check the Historical Commitment box if you will only be entering historical data. Historical commitments cannot be published or request commitments from investors. The Call-To-Action Button will display at the top of the Commitment Offering page allowing investors to begin the Commitment process. 

Step 4:  Determine which Investor Signing Documents you want to use for the Commitment.  You can use an eSignature template that is added on the Edit Classes page or you can choose to add an eSignature template in the Commitment itself.  Once you've made your choice, select Save & Continue.

Step 5:  Select the Class(es) in the left box that you would like the Commitment Offering associated with and use the top arrow between the boxes to move the Class(es) to the right box.  Then, select Save. 

Pro tip: If a class has a black icon next to it, this means that the class is not yet published on the Edit Classes page.  You can still include the Class here to be associated with the Commitment Offering, but you'll need to be sure to publish the class separately.

Step 6:  Publish the Commitment Offering by using the toggle under Project Summary > Commitments.

Pro tip:  If you want to add more information to the Commitment Offering page on the investor portal, you can navigate to the Edit Classes page for the Class(es) associated with the Commitment and complete the Investment Details section before selecting Save. 

Step 7:  Verify the Commitment Offering looks as expected by navigating to the investor portal either by logging in directly using your own investor profile or by masquerading as an investor.

Learn More: 

Want to add metrics to the top of your Commitment Offering? Read about Offering Preferences

Want to add non-eSignature documents to your Commitment Offering? Read about Adding Class Documents  

Want to add images to the Photo Gallery in your Commitment Offering? Read about Asset Images

 

Request Commitments

Step 1:  Navigate to the Project Summary level of the project, select the Commitments tab and select Create Commitment.

Step 2:  Enter a Name for the Commitment and select Next.

Step 3:  Complete the required fields, which are Goal Amount, Due Date and Purpose, on the Details page.  The Due Date and Purpose fields will populate in the Request Commitment email.  You can also complete the non-required fields:  Amount Description is an internal note that investors will not see; checking the box next to Require Commitment Amount will add this language to the Request Commitment email.

Step 4:  Determine which Investor Signing Documents you want to use for the Commitment.  You can use an eSignature template that is added on the Edit Classes page or you can choose to add an eSignature template in the Commitment itself.  Once you've made your choice, select Save & Continue.

Step 5:  Select the Add Investors button on the Commitments page, which allows you to choose which investors will be added to the Commitment and will receive the Request Commitment email.

Step 6:  Select the Class(es) and the Investor(s) that you want to include in the Commitment.  You may add investors by selecting an existing Segment or by manually searching for investors.  Once the Investor(s) appear in the left box, use the top arrow between the boxes to move the Investor(s) to the right box.  Then, select Apply.

Step 7:  Enter the Requested Amount for each investor and select Request Commitments to send the email, which will provide investors with a link to the eSignature document associated with the Commitment. 

Pro tips:

(1) If you are not ready to send or do not plan on sending the Request Commitments emails, you can simply enter the applicable information and select Save on this page.

(2) If you would like to review the Request Commitment email template before sending, read about Customizing Portal Notifications.

(3) The Document Status column will show the when the document was sent, viewed, signed, and completed (similar to the Document Status column in the Cap Table).

(4) The Committed Amount and Date fields will auto-populate when the investor has completed the eSignature document; however, if you will not be sending the Request Commitment emails to gather eSignatures, you can manually populate these fields. 

Step 8:  Upon selecting Request Commitments, you'll receive a pop-up window asking you to Confirm Requests.  If you would like to send the emails, select Yes, Send.

Investor will receive an email similar to the one below where they can select Confirm Commitment, which will prompt them to complete the Commitment process by signing the eSignature documents.

Once Commitments have been collected, you can move to the Capital Call process.  Learn more about this workflow here:  Capital Calls