November 21, 2023
Inveniam Capital Partners, Inc. (“Inveniam”), a leading provider of private market asset blockchain technology, and Cascata Solutions (“Cascata”), the leading provider of digital carried interest and management fee software are pleased to announce a strategic partnership to integrate Cascata PE SuiteTM software and Inveniam’s blockchain platform - Inveniam.io. We believe the partnership will set a new industry standard--surpassing Excel spreadsheets and other existing consulting-centric solutions--to deliver previously unachievable cost efficiencies, scalability, transparency, auditability, and trust in waterfall accounting and administration.
Carried interest and distribution waterfall accounting is one of a fund administrator’s greatest responsibilities. It reflects disclosure of profits and distribution among their clients, fund managers, and investors. Process automation to ensure operational integrity at scale is crucial to streamlining the otherwise manual collection and exchange of data that underlies systematic modeling, and the calculation of complex carried interest scenarios. Likewise, having immediate access to all pertinent fund information at its source of origin (rest) and traceability of each activity and document is critical to achieving the highest efficiency and the assuring of accurately reporting carried interest and fees through the life cycle of a fund. “With our continued commitment to innovation and solving the most crucial functionality for our clients’ production operation and 100% self-administration for carried interest and fee accounting, our partnership with Inveniam marks another major milestone in our product evolution.”, said Chuck Dooley, Cascata CEO.
Patrick D. O’Meara, Inveniam’s CEO, commented, “We’re very excited about this opportunity to partner with Cascata. Our combined offering has the potential to revolutionize fund administration. Our proprietary technology adds a trust layer which enables every waterfall calculation to include a clickable audit trail leading to every data point and its associated source document.”
Kerry Rudy, Inveniam’s President, said, “The Inveniam.io platform solution allows clients to trace capital activity from the Net Asset Value (NAV) back to fund commitments. Clients have full lineage from NAV, through waterfall calculation, to Gross Asset Value that is tied back to capital account activity statements and reconcilable to commitments. All capital activity is anchored/notarized using blockchain, assuring that source documents are the “golden copies.” All activity is tracked, transparent, and auditable throughout the fund servicing process.”