One ledger for your entire firm.
One source of truth for venture capital quarterly valuations and annual audits.
Common Ledger turns the data you already have, your inbox, your statements, your portfolio, into LP updates, valuations, and memos, and keeps you ready for quarterly reviews and the annual audit.
- Gathers portfolio company data across sources: emails, saved files, direct founder requests, or group cap table requests.
- Drafts your LP updates, memos, valuation waterfalls, and anything else you need, in one click.
- Keeps every number current and tied to its source, so reviews and audits are already handled.
What it runs
From founder reply to audit binder — one record, six workflows.
Each one writes to the same structured record: one entry per company per quarter, every figure with a source pointer, every action on the ledger.
★ 01 · Collection & chase
The quarter collects itself
Per-company requests for exactly the documents that apply — financials for everyone, SPAs and cap tables only for companies that raised. Weekly nudges for the silent, escalation to a partner after the chase runs its course. A shared status grid replaces the tracking spreadsheet.
02 · Inbox ingestion
Reaches into the inbox so nobody has to
Connect the inbox once. Attachments on founder replies are matched to the right company and quarter, filed, and ticked off the collection grid automatically. A login-free upload portal covers teammates and fund admins who'd rather drop files than forward email.
03 · Extraction with provenance
Every figure arrives with its source attached
Income statements, balance sheets, and cap tables become structured figures — revenue, cash, share counts — each stamped with the verbatim place it came from, queued for one-click human verification. The product never displays a number it didn't truly derive.
04 · Valuation & waterfall
Your policy, computed — not guessed
Each company routes down your valuation policy tree — held at zero, at cost, at last round inside the window, or on comps — then the waterfall distributes through the preference stack to your per-share position. Deterministic code: rerun it and get the same answer. A human signs every mark.
05 · LP updates, SOI & handoff
Reporting assembled from the verified record
Per-fund LP update drafts, LP-call prep, and a structured Schedule of Investments handoff for your fund administrator — generated from figures that already carry their sources, instead of re-keyed into yet another document.
06 · The audit binder
Year-end becomes assembly, not authorship
The binder self-assembles: every figure, its source document, who verified it, who approved it, and the ledger proof that none of it was silently edited. What used to be a quarter of reconstruction becomes an export.
Provable by construction
An auditor can rebuild every number. Nobody can quietly rewrite one.
These aren't policies in a handbook. They're properties of the software — the same “private, provable” architecture GoDo builds for law firms, applied to fund reporting.
Hash-chain audit ledger
Every consequential action is appended to a per-firm hash chain with a monotonic sequence. “Has this changed since Q2?” always has a provable answer — rows can't be edited after the fact, including by admins.
Provenance to the line
Every figure stores the verbatim source it came from — down to the statement line or spreadsheet cell. “Where did this number come from?” is one click, not an afternoon.
Four-eyes by construction
Sign-offs and deletions require a distinct second approver. The software will not let one person — or the AI — complete them alone. Not a policy. A precondition.
Deterministic engines
Waterfalls and the valuation policy tree are computed code, not model output. The AI extracts and drafts; it holds no verify or sign authority. AI proposes. Your team signs.
FAQ
Straight answers.
The questions funds ask before they connect an inbox — answered the same way the product behaves.
Does the AI make valuation calls?
No. The valuation policy tree and the waterfall are deterministic code — rerun them and get the same answer. The AI extracts figures and drafts documents; it holds no verify or sign authority. A human verifies every figure, and sign-offs require a distinct second approver. AI proposes. Your team signs.
Where does our data live?
In cloud mode, in your firm's isolated tenant — organization scope comes from the session, by construction, so nothing reads or writes across firms. In sovereign mode, on hardware your firm owns, with local models and a per-install member whitelist. Google tokens live in GoDo's approved connection layer, never inside the app. Your data is not used to train models.
A founder re-sends a corrected cap table. What happens?
It's matched to the company and quarter and filed like any other arrival, and the figures derived from the old version are flagged for re-verification. The ledger records the change — who accepted it and when. Nothing is silently overwritten, which is exactly what your auditor will ask about.
Does it replace our fund administrator or auditor?
No — it feeds them. Your fund administrator gets a structured, SOI-ready handoff instead of a folder of PDFs; your auditor gets a binder and a rebuildable record instead of a reconstruction project. What it replaces is the chase spreadsheet, the inbox archaeology, and the re-keying in between.
What does onboarding look like?
Minutes, not a data-migration project. The setup wizard pre-fills your portfolio from public data, takes a spreadsheet import for the rest, and connects the inbox. Your first close runs with us alongside — on your real quarter, next to your current process, so nothing is at risk while it earns your trust.
We're a fund administrator / outsourced CFO. Is this for us?
Yes — arguably most of all. You run the same collection, extraction, and close across many fund clients; Common Ledger runs it as one system with a provable record per fund. Talk to us about multi-fund deployment.