InCloudCounsel Launches Insight, First Software Solution Purpose-Built for Fund Obligation Management

Insight provides fund managers with a centralized solution to track obligations, analyze key provisions, and ensure audit compliance

SAN FRANCISCO--(BUSINESS WIRE)--InCloudCounsel, the leading technology and services provider of contract automation and intelligence for many of the world’s biggest and most innovative companies, today announced the launch of Insight, the first purpose-built software solution that allows fund managers to organize and actively manage obligations to their investors across all of their funds in one centralized platform. Insight turns complex legal contracts–like side letters, limited partnership agreements and MFN elections–into data and allows fund managers to assign obligations to individuals across their organization, track compliance with obligations in real time and build a comprehensive digital audit trail.

Insight’s sophisticated data architecture and intuitive data entry tools were purpose-built to handle the complexities of fund documentation. The Insight platform makes it easy to upload fund documentation, abstract and tag obligations (including MFN elections) and assign owners to individual obligations. In addition, Insight ensures accountability across the organization by providing a thorough digital audit trail that details who did what and when.

“Fund managers often rely on ad hoc or manual processes to manage the growing number of obligations owed to their investors,” said Miles Chan, VP of Insight at InCloudCounsel. “However, by turning their LPAs and side letters into actionable data, these managers can save both time and money while significantly reducing the risk of breaching crucial commitments to their LPs.”

Fund managers need a clear view of their obligations across all of their funds and strategies, the ability to assign accountability for individual commitments and a clear, digital audit trail of compliance. Failure to meet the promises made to investors can lead to legal action, regulatory fines, loss of investor confidence and reputational damage.

Insight’s development was the result of direct conversations with over two hundred asset managers, across a diverse group of asset classes, regions and investment strategies. All of these asset managers expressed the need for a dedicated solution to help them manage the increasing number of obligations owed to their LPs.

“Fund documents are the most complex set of documentation that our customers deal with,” said Troy Pospisil, CEO and Co-Founder of InCloudCounsel. “Insight empowers asset managers with a comprehensive software solution and first-of-its-kind system of record built to organize and manage fund obligations. With Insight, fund managers can decrease risk for regulatory exposure and fines, eliminate the need to reference multiple compendia and drive accountability across various functions in the organization.”

To learn more about Insight for fund obligation management, check out the official Insight launch homepage.

About InCloudCounsel

InCloudCounsel is a legal technology company that combines highly experienced corporate attorneys with cloud-based software to offer a scalable, end-to-end solution for negotiating and managing routine legal work. We help many of the world’s leading companies effectively streamline their contract processes, free up resources, and achieve substantial cost savings. Our global network of highly experienced attorneys are specialists in specific document types in asset management, investment banking, real estate, and healthcare. The InCloudCounsel software platform is designed to maximize organization, efficiency, and insight by providing a robust set of document management and data reporting capabilities. Each customer-specific solution is led by a dedicated account manager with deep Big Law experience to ensure a consistent, high-quality work output.

InCloudCounsel is headquartered in San Francisco, California. with global operations across North America, Europe, and Asia. Learn more at incloudcounsel.com.