Introduction
Before you can use all the capabilities that Fidelity Private Shares offers, you must set up your account. This process is called Onboarding. We offer multiple ways to onboard, based on your company's size and stage. For all companies, onboarding will involve inputting information from several key documents so that you can use your account and manage your company's cap table.
If you are onboarding via our workflow, the articles in this section, including the information below, will be helpful for you. If you are going through our implementation process, please click on this link to learn more.
Click the links below for more information about our self-guided onboarding workflow:
- What is Onboarding?
- How can Onboarding be useful before a financing?
- Who is Involved?
- Can I get my lawyer involved in Onboarding?
- What else should I know?
What is Onboarding?
The self-guided Onboarding process allows you to populate your company's account with key data and documents. This means a company can analyze its full corporate legal history, get organized, and identify issues in its corporate legal documents.
You can upload your company information and documents into the platform during the onboarding process, and the workflows will provide the help you need every step of the way. The process will walk you through inputting details about the company's employees, equity, fundraising, and other key actions so that your company can quickly get up and running on the platform.
How can Onboarding be useful before a financing?
Onboarding can help you identify missing documents. This can be a helpful starting point for a company that is motivated, with a lawyer, to address those gaps (issues with incomplete documentation, cap table inaccuracies, etc.). This can be especially helpful if a financing or other key event is on the horizon.
Who is involved?
Depending on what stage your company is at, you may choose to manage this process differently. If you are a three-person company, the founder might complete the entire onboarding workflow. In a 50-person company, the founder might invite the head of HR to fill out the HR-related pieces of onboarding, the CFO to fill out the equity and finance-related pieces of onboarding, etc.
Can I get my lawyer involved in Onboarding?
You and your lawyer can work together to get your company set up—you decide if you want to run the process or step in to assist your lawyer as needed.
What Else Should I Know?
- A sample list of documents you'll need to have at the ready for onboarding.
- Basic primer on onboarding your fundraising documents.
- Basic primer on onboarding your grants.
- Basic primer on onboarding your stock incentive plan.
- Tips on inputting your Charter details in onboarding.
- How to determine your stock classes for purposes of onboarding.
- Uploading bridge notes in onboarding and determining which notes are converted.
- Uploading and understanding board/shareholder consents/minutes for onboarding.
We're here to help. Your Customer Success Manager will assist you along the way during the onboarding process, and you can always reach out to our Support team for additional assistance.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
Fidelity Private Shares LLC provides cap table management and other administrative services to private companies and their equity compensation plans.
Fidelity Private Shares LLC
© 2024 FMR LLC. All rights reserved.
1094158.2.0