Before you start
Use a private investment record for a fund, SPV, startup, angel deal or private equity position that is not priced like a public security. Private investments usually need more context than a single value because commitment, called capital, unfunded commitment, liquidity and valuation date can all change how the position affects your portfolio.
Detailed steps
Open Assets > Investments and check Private Investments first
Start in Assets > Investments. Look at the Private Investments section before adding anything so you do not create a duplicate fund, SPV or startup row. If the position already exists, open details and update value or notes instead of adding a second record.
Open Add Capital Item
Use Add Capital Item from the Assets screen. This keeps the record inside the current portfolio and opens the same entry point used for public markets, private markets, real assets, crypto, Held Away and debt.
Choose Private Markets and Add Private Investment
Select Private Markets. Choose Add Private Investment for a manual fund, startup, SPV or angel position. Use Import Capital Statement when you have a statement that Capitelist should extract and review. Use Private Credit Asset only when the asset is a note, loan receivable or private debt position.
Review the manual-entry fields before typing
The manual form asks for name, institution/source, current value, currency, amount invested, commitment and called capital. These fields answer different questions: what the investment is, where the evidence came from, what it is worth now, how much you paid in and what future capital obligation may remain.
Enter source-backed value and capital-call context
Use the recognizable legal or manager name, then enter the latest source. Current value should come from the latest credible mark. Amount invested is paid-in or cost basis when known. Commitment is the total amount agreed. Called capital is the portion already requested or paid. Capitelist uses commitment minus called capital to show unfunded commitment.
Save and confirm the Private Investments row
After saving, check the Private Investments table. The row should show the source, date, subtype, committed amount, called capital, unfunded amount, owned value, locked liquidity and gain/loss versus paid-in capital. If any of those look wrong, open details before relying on Net Worth.
Open More details and check private-investment totals
Open More details for the saved position. Confirm current value, commitment, called capital and unfunded commitment. Unfunded commitment is important because it is a future cash demand; it is not available liquidity even though it is not a debt balance.
Open Value and review valuation date, method and liquidity
Use the Value tab to check owned value, amount invested, liquidity, valuation date and valuation method. A manual entry should not be treated like a verified market quote. Update the valuation date and method when a new manager report, round, appraisal or material event changes the basis for the number.
Field guide
The legal or recognizable investment name.
Use the name from the manager report, issuer update, subscription document or cap table.Where the value and capital information came from.
Use the manager, issuer, platform or document source, not a vague label.The latest value you want included in Assets and Net Worth.
Use the latest credible mark and note uncertainty when the mark is stale or subjective.The currency of the private investment record.
Do not convert manually unless the source itself reports the converted value.Paid-in capital or cost basis when known.
Do not use commitment here unless all capital has actually been called or paid.Total capital agreed for the investment.
Use this for funds or SPVs with capital calls.Capital already called or paid in.
Compare it with capital call notices and capital account statements.Commitment not yet called, calculated from commitment minus called capital when both are present.
Treat it as a future cash obligation, not as current value.How easily the position can be converted into cash.
Keep private investments locked unless there is a documented redemption or secondary-sale path.When and how the current value was supported.
Refresh it after manager reports, financing rounds or material company events.Decision rules
What it adds
- Prevents illiquid wealth from being hidden outside net worth.
- Separates current value from cash invested and future funding obligations.
- Lets Capital Review identify stale valuations, concentration and illiquidity.
What it does not do
- Capitelist does not verify a manager mark or create a formal valuation.
- Private values may be delayed, subjective or impossible to realize quickly.
- Tax basis, carry, waterfall and legal rights need source documents or advisor review.
Common mistakes
What to check
- Do not use a fundraising headline valuation as owned value without checking dilution and ownership.
- Keep unfunded commitment visible because it is a future cash demand, not available liquidity.
- Update valuation dates after quarterly statements, financing rounds or material company events.
- Use conservative notes when value is estimated from incomplete information.
Using commitment as current value.
Using a headline company valuation without adjusting for your ownership, dilution or share class.
Leaving called capital blank when the position has capital calls.
Forgetting unfunded commitment even though it may create a future cash need.
Marking liquidity as daily or monthly when there is no real redemption path.
Treating a manager mark as a guaranteed sale price.
Creating a duplicate row instead of updating the existing private investment.
Letting a stale valuation date sit through new quarterly reports, financing rounds or impairment events.
After you save
- Open the Private Investments row and confirm source, date, commitment, called capital and unfunded amount.
- Open the Value tab and confirm valuation date, valuation method, liquidity and amount invested.
- Open Capital Review because private investments often create illiquidity, stale-value or concentration checks.
- Keep the manager report, capital account statement or subscription document available for future review.
- Update the record after each capital call, distribution, manager report, financing round or material event.
- Use Import Capital Statement next time if the statement has multiple rows or complex extracted data.