Private Equity
Track and manage your private equity investments in Annise. Private equity is an investment category that includes many different types of investments. Maybe you’ll start with a fund approach and invest in a number of venture teams. Or maybe you'll want to go direct and diversify -- investing in angel, early stage, growth, buyout, etc. Annise allows you to categorize each investment according to stage and risk profile, providing the performance metrics to allow you to easily ascertain how each individual asset class is performing. Analyzing a mix of angel and buyout investments together might not provide the insight you're looking for, Annise solves for this.
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Angel equity
So many opportunities, not enough cash. Angel investing is hard. You need to invest in many more angels than later-stage investments to get the diversification you need to have a chance at the returns you want. There are also Qualified Small Business Stock (QSBS) tax opportunities depending on the type / size of business that could reap significant advantages upon sale. Making certain you have all the insights / analytics is a must.
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Buyout equity
Buyout equity might have lower potential returns but much higher probability of realizing those returns. Keeping track of revenue and profit growth or debt to equity ratios are insightful and are related to ultimate realized value.
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Growth equity
Group later stage, high growth companies investments together to compare growth rates and Rule of 40.
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Multiple
Sometimes you’ll invest in a fund that includes a percentage of angel, growth and other types of private equity. Use this to track these funds.
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Options and warrants
One of the most widely used forms of compensation, stock options can be extremely valuable.. Keep track of grant date, expiration date, strike price, market value, vesting, and other related metrics. Make sure you understand the capital and tax implications of exercising your options and ultimately selling the underlying securities.
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Venture equity
Not quite a start-up and not yet scaling, you might have investments that require multiple rounds of capital to get to maturity. Keep track of value, dilution and preference by asset class.
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Venture funds
Venture funds vary by geography, industry, stage of company, etc. You must be able to track MOIC and IRR across funds, managers and types of venture investments.
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Other
Use for investment in other private equity assets (and give us feedback to additional needed asset classes).
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Frequently Asked Questions
Why should I use Private Holdings?
Once of the most challenging and frustrating things to do is to manage and analyze your private holdings. Private holdings are ones where you have committed to buy or have already bought the whole or part of the asset. These assets could be angel investments, a venture fund, a portion of a multi-family partnership, or any other asset. Annise allows you to easily add an asset, keep track of capital comments and capital calls, monitor MOIC and IRRs, manage distributions, and ultimate realize a gain / loss.
What types of Private Holdings does Annise support?
Annise supports a wide range of asset classes including Real Estate, Private Equity, Private Credit, Alternative. Within Real Estate, Annise supports the following sub-classes: Residential, Commercial, Multi-Family, Retail, Industrial, Hospitality, Development, and Multiple. Within Private Equity, Annise supports the following sub-classes: Angel, Buyout, Growth, Multiple, Stock Options, Warrants, Venture Equity, Venture Fund, and Other Private Equity. Within Private Credit, Annise supports: Corporate Loans, Personal Loans, Other Private Credit, Venture Debt, Mezzanine Debt, and Distressed Debt. Within Alternatives, Annise supports: Art, Commodity, Vehicle, Wine and Jewelry. Within Liabilities, Annise supports Lines of Credit and Mortgages.
Why does it say Investment Portfolio and Family Assets?
Assets and accounts can be market as Investment or Family Assets. Investment assets are those you’d like to see in your investment portfolio (e.g venture funds). Family assets are those that you’d like to see outside of our investment portfolio (e.g. non-vintage or collectible car).
How do I add a Private Holding?
Private assets can be added in one of two ways:
1. Upload a Capital Account statement to Documents and have Annise process the document by adding your account automatically,
2. Manually by clicking on the “+” icon and manually entering the asset.
How do I enter a capital commitment?
When a private assets is added to Annise you’ll have the opportunity to add a Committed Capital amount and an Invested Capital amount. The difference between these two numbers will show up in the Capital Call Schedule and in your projected Cash Flow.
How do I associate a withdrawal / deposit from my brokerage account with a Private Holding?
You’ll want to use an Annise specific transaction type like Dividend or Interest. When this type is selected, you can also select the associated security. Simply click on the security box and enter the ticker or name of the security. Once found, it will be associated. Press Save and it will be associated with the security.
How do I add non-cash transactions so I have history and can calculate IRRs / MOICs?
Adding non-cash transactions is critical to being able to calculate MOICs / IRRs as these transactions allow you to enter historical transactions that happened before you set up your Annise accounts.
What is MOIC?
Multiple on Invested Capital (“MOIC”) is a metric used to describe the value or performance of an investment relative to its initial cost, commonly used within private markets. MOIC is among the most relevant metrics to be assessed while conducting fund due diligence. It is also often referred to as Equity Multiple. In fund investments, MOIC is expressed as a measure of the total value (i.e., both realized and unrealized, see below) of all shares in the fund divided by the initial investment.
What is IRR?
IRR, or Internal Rate of Return, is a metric used to estimate the profitability of an investment. It represents the compounded annual growth rate of an investment, calculated as the discount rate at which the investment's net present value (NPV) equals zero. Essentially, it's the interest rate at which a project breaks even.
How do I compare IRRs / MOICs?
Annise makes it easy to compare performance metrics. Just look to the far right of any asset or asset class and the MOIC / IRR will be stated. You can then compare within an asset class or across asset classes. Note: IRRs are calculated only after 90 days of data.
How do I see estimated future capital calls?
If there is a difference between the Committed Capital and Invested Capital, the difference will be allocated quarterly over an expected 3 year draw period.
How do I record a Capital Call?
Capital Calls can be entered in one of two ways:
1. Upload the Capital Call statement and Annise will process it by updating the Capital Call Schedule
2. Navigate to the sidebar, click on Schedule, click on Capital Calls and enter the transaction manually.
Note: If the amount is different than the projected amount, the full schedule will be updated to reflect the remaining unfunded capital amount.
Is there a way I can see how long I’ve held an asset or an asset category?
Apples to apples comparisons of returns will include size of fund, industry focus, and vintage - or when the fund was raised - among other elements. You can see the vintage under Investment Date and Hold Period.
How do I update a Distribution to its various income / capital return elements?
When distributions are received in a specific account, it is usually unknown if it’s capital gain, interest income or return of capital. Most will use the Annise type transactions Distribution to update the various distributions once the related K-1 is received.
Does the number under Distributions include all income / return of capital elements?
Yes, Distribution includes all distributions or related income and Return of Capital allocations within the split transaction.
Does the number under Distributions include just those transactions marked as distributions?
Yes, Distribution includes all distributions or related income and Return of Capital allocations within the split transaction.
Can I use the annual K-1 statements to update the income components of a distribution?
Yes, simply go to the Distribution transaction, click split transaction, and enter all of the related income and returns of capital.
Is Total Value equal to the asset’s value today plus income / distributions?
Yes, Total Value equals Today’s Value plus Distributions transactions which will most likely end up being split transactions where various income and capital returns are recorded.
Can I drill down to see a particular asset class?
To see a particular asset class, just click on the carrot to see the names of the asset classes. Click on the name of the asset class and be taken to a View of just those assets.
Can I drill down to see a particular security?
To see a security, just click on the carrot to see the name of the security. Click on the name of the security within the asset class and you will be taken to the Security dashboard.
Can I easily see the performance of a particular security?
Yes, to the the performance of a particular security over a period of time, simply click on the period ledged in the upper right hand corner of the page. It will drop down to a number of preset periods but you can also select a customer range.
Can I easily see simple, price and time weighted returns?
Yes, for a particular period, simply click on the Performance: Simple Return and the others will show. Select which one you’d like to review.
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Frequently Asked Questions
What do I get in my free trial of Annise?
Click on the Try it Free button on the upper right of this page. You'll get a 30-day free trial to test our platform features and functionality. At the end of the trial, you can upgrade to a specific plan, stay on the platform with limited functionality and advertising, or delete your family office and leave us feedback.
Which Annise plan is right for me?
Annise pricing is usage based - the more features you use, the more you'll pay. Just syncing brokerage accounts is fee, when you start to add alternative assets, or set up trusts, you'll pay more.
What is wealth management software?
Annise defines wealth management software as a platform that incorporates asset performance with a general ledger, all permissioned to whomever you'd like to have access to whatever assets, accounts, trusts, etc.
How does Annise work?
At its core, Annise is a large database that starts with a base set of knowledge of all publically traded securies, pricing, and related meta data. After you sync your accounts, Annise matches your securities with the market securities to start to be able to educate, inform, and analyze your portfolio.
Does Annise work with all my devices?
Annise works across all your devices. They web is where you'll probably do morst of your work. The iOS app will be for quick analytics an insight, the iOS widge and watch will be for quick peek of performance. And Siri will be for a bit of interaction.
Does Annise charge for Support?
Annise does not charge for support during your subscription, nor does it charge for support during set-up. If you'd like to add historic data to properly calculate MOICs / iRRs or if you'd like us to reconcile our accounts, we charge an hourly fee which you can find under Pricing.
How do my Advisors work with Annise?
Advisors use Annise to empower their clients and build their businesses. Investors grant Advisors access to their Family Offices or to particular assets, accounts, or trusts. Or Advisors grant Investors access to the platform to start to build relationships with prospects and clients alike
Can Annise help me upload historic data?
Yes, when you sync your custodial accounts or add alternative assets and related price and capital call information, you'll probably want to add transactions that occurred prior to the earliest transaction with in your sync'd accounts. This will allo for accurate performance data. Annise can do this for you for an hourly rate found in Pricing.