Introduction

This article explains how you can invite a new third-party entity to view documents and/or the cap table in your company's account, usually in the context of due diligence. You can also invite an individual user to view similar information, or provide access to this information to existing investors or members of your team. Once you've made the initial connection with this party, you can add additional members to their team as well.

Click the links below to jump to that section of the article:

Creating the new relationship
Configure access and permissions
Team management

Creating the new relationship

Follow these steps to add a new third-party entity:

From the Company Workspace, go to Start New Workflow > Add Third Party Entity.
Enter the name of the new entity in the External Party field.
Click on Create New User and add the entity name, and the primary contact's name and email address. Note that if the entity has already been added to the directory, the workflow will skip ahead and indicate that a relationship already exists.
Check the Enable Diligence Mode box to enable each party to receive reports about activity in the data room, such as letting a potential investor know when the company has uploaded additional materials for review.
If you entered an email address for the primary contact, you will be prompted to invite the new user. If you did not, this step will be skipped.
If you sent an invite to the new user, the account will be created and they will receive and email to accept the invite and set up their account.

If you did not invite the user in the previous step, or did not include an email, the account will be created as a placeholder and you can invite them from the directory at a later time.

Delaying Invitation

If you choose to delay invitation, you can invite the company at any time by going to Directory > Companies and Firms. Check the Not Invited filter under relationship status on the left side panel if you do not see the company listed.

Click the three-bar menu for the new firm, and click Invite. If they have already been invited but have not yet accepted, you can use this same menu to resend the invitation.

Access and permissions

Platform access

By default, the newly added entity will have no access or permissions set. To grant access, from the Company Workspace navigate to Directory > Companies and Firms to open the Team Management page. Click on the name of the entity and then click Configure Access.

Check the box for each area to which you wish to grant access on the platform. You can check Full Access to give the entity access to all reporting, workflows, and document access.

Data Room permissions

Similarly to the platform access, no Data Room access is granted by default. While on the Team Management page for the new entity, click Data Room Permissions.

Check each folder to which the entity should have access. To grant full access, check the Data Room folder at the top of the list.

Team management

Adding team members

You can add additional members to the third-party entity from the Team Management page in the Companies and Firms directory. In the Team Management section, click on Add Team Member.

There are four roles that can be assigned:

Primary Manager: By default, the access level granted to the primary contact is the Primary Manager. They have full access to the reports and Data Room folders you've shared. They can add team members and define their access (up to the level that the primary contact has).
Team Lead with Managed Access: These individuals can add other Team Members and have access to the information designated to them by the Primary Manager or the company.
Team Lead with Full Access: These users have full access to the reports and data room folders shared with the Primary Manager. They can also add team members and tailor their access.
Managed Access: These team members are only allowed to access the information granted to them by a more senior member of the team. They cannot add team members or change others' access.

To change a user's access, click on the three-bar menu and select Edit Role.

Signatories and signature blocks

Team members designated as signatories can sign documents on behalf of the entity. Signatories will have an icon in the signatory column.

To designate a user as a signatory, click on the three-bar menu to the far right of their name and select Authorize as Signatory.

To add or edit the signature block, click on the three-bar menu and select Edit Signature Block.

Screenshots are for illustrative purposes only.

Fidelity Private Shares LLC provides cap table management and other administrative services to private companies and their equity compensation plans.

Fidelity Private Shares LLC

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