How to use NEFUND

What it is

NEFUND is the umbrella framework that everything else on the platform sits inside. It is not a separate product — it's the operating model. When you read about Deal Room, LP Portal, or Apex AI, you are reading about the three working surfaces of the same record. NEFUND is the name of that record-shape and the rules that govern it.

The thesis is simple. The firms moving African capital used to juggle Fund Admin, Investor Management, SPV-this and Sub-Fund-that as five separate software products. NEFUND collapses all of it into one product (Deal Room), with one shared lifecycle (six stages), one wrapper library (six legal vehicles), and two reading angles (GP and LP) on the same underlying data.

Why one product, not five

Older infrastructure shops sold five separate things — a fund admin tool, an investor portal, an SPV manager, a sub-fund wrapper, and a reporting suite. They didn't share data, so you got the worst of both worlds: five logins, five integrations, five surfaces of truth, and reconciliation bills.

NEFUND's bet is that all of that is the same job described from different angles. Source → Structure → Outreach → Diligence → Close → Administer is the same six-stage path whether you're raising a $5M SPV in Lagos or a $40M sub-fund in Mauritius. The wrapper changes, the law changes, the LP profile changes — but the lifecycle doesn't. So the platform builds one deeply-integrated path with the wrapper as a switch.

The benefit shows up in three places: one source of truth (no reconciliation), shorter setup (median 5 business days source-to-structure), and LP-visible operations (the LP camera reads from the same record you're operating on, so there's no lag between what happened and what your LPs see).

The six lifecycle stages

Each stage has a fixed set of things that must be true before the platform lets you advance. This is the lifecycle state machine — codified in the platform's databank.js and enforced everywhere.

1. Source. You have a deal memo. The platform asks for the issuer's caliber, the proposed raise size, and a one-paragraph thesis. Once submitted, the deal enters Under Review.
2. Structure. Compliance has approved the deal. You pick a wrapper. The platform pre-loads the templated documents (CSAFE template, PPM template, etc.).
3. Outreach. The deal is live. Investors can subscribe. The platform tracks subscription momentum and shows you who's looking, who reserved, who funded.
4. Diligence. Optional intermediate stage for Lane B / large raises. Investors have asked questions; you respond inside the structured Q&A; answers are visible to all subscribers (preventing information asymmetry).
5. Close. Allocation target reached or scheduled date hit. Issuer countersigns. Escrow releases. The deal moves to Active.
6. Administer. Post-close operations. Quarterly reports filed. Calls and distributions run. LP camera is now serving live data to subscribers. This stage lasts until the deal converts (CSAFE → equity), matures (Bond), or is exited (sale).

The six wrappers

Each wrapper is a different legal vehicle. They're not interchangeable — you pick the one that matches what you're actually doing. The platform routes you automatically based on caliber, but it's useful to know what the choices are.

GP camera and LP camera

The platform shows the same deal record through two distinct interfaces. This is the single most important design choice in NEFUND and worth understanding deeply.

The GP camera. Default for whoever created the deal. Centred on the lifecycle stage strip — you can see which stage you're in, what's blocking advance, and the activity feed of every action against the deal. The GP can advance stages, change terms (until Live), invite investors, run Q&A, and trigger close.

The LP camera. Default for any verified investor who has subscribed (or who is browsing as a prospect). The LP sees the deal as a position — committed, called, NAV, IRR, distributions, and the next scheduled action. The LP can acknowledge calls, view documents, message the GP, and run Apex AI against their slice.

Crucially, both cameras read from the same underlying record. There is no "GP version" of the data and a separate "LP version" — there is one record, and the lens is the user's role. If a GP marks NAV at 1.3×, that's what the LP sees. If an LP acks a call, that ack appears in the GP's activity feed instantly.

Choosing the right wrapper

The platform auto-suggests, but here's the quick decision matrix:

• One deal, one check from a small group of investors? SPV.
• Thematic strategy under an existing fund structure? Sub-Fund.
• Evergreen capital, ongoing access for new LPs? Rolling.
• Traditional 10-year venture or PE fund? Venture.
• Following a lead investor on a single deal? Co-Invest.
• Cleaning up legacy positions? Roll-Up.

For Nigerian issuers raising under SEC Crowdfunding (Lane A in Deal Room), the platform additionally wraps the underlying agreement (CSAFE, Convertible Note, Equity Subscription) inside whichever vehicle you've picked. You're not choosing between "CSAFE or SPV" — you're choosing both: CSAFE as the security, SPV as the holding entity.

Glossary

Frequently asked