TenthYards: raising money

1Publish an offering

1. Open TenthYards and press New offering. Set the target, minimums, share classes, and the deal terms. If the deal came from Underwrite, most of this arrived pre-filled.
2. Draft the offering memo with AI. Sam writes a branded memo from your deal facts, exportable as a PDF. Edit anything.
3. Publish when ready. Offerings stay dark until you publish. Publishing records your legal attestation (who, which version, when) and switches on the interest forms and invite links. A direct onboarding link also exists, so your own website's Invest button can point straight at the application.

2What investors go through

Investors onboard themselves through a guided application. It's built so a sponsor never chases paperwork and never holds half-filled records.

1. They create a real account first. Email confirmed with a code, phone confirmed with a text, two-factor on. Someone who opens the wizard and wanders off leaves no trace on your roster.
2. They pick how they're investing. As themselves, jointly, or through an LLC, corporation, partnership, trust, or self-directed IRA. Each type asks exactly the paperwork that type requires, and only after identity is done, so nothing is wasted if they stall.
3. Identity verifies against the source. Their tax ID is matched with the actual tax authority: the IRS in the US, and each country's own authority for international investors, who take the proper tax-form path with their own country's details. A typo keeps them on the screen to retry, and there's a continue-anyway path that flags it for your review.
4. They sign documents that are already filled. Their subscription agreement opens with their legal name, address, entity, tax ID, and amount already in place. Only a signature is left. It signs through Ink.
5. They fund. Bank transfer, card, or wire, straight to your account, with wire instructions waiting in their portal.

The passport

Each investor's card shows everything proven about them, their uploaded documents (stored encrypted), and your recorded decisions. A gold-verified investor carries their proof to every future deal and never re-types identity.

Share classes

When an amount fits exactly one class, it's selected automatically. When tiers overlap, the wizard shows what they're eligible for and asks, instead of guessing.

Joint investors

Up to three co-investors, each emailed, each verified the same way, each landing in your contacts with their own portal access.

3The investor portal

What they see

Their commitments, documents, statements, and performance, behind a real two-factor sign-in. Their profile self-fills from onboarding, so they never re-type anything.

Their vault

Everything they uploaded and everything you deliver (K-1s, statements) files into one encrypted vault, visible to them and one click away for you.

Their badge

The sidebar shows their own verification mark, or exactly what's left to earn it. Unfinished onboarding can be completed from the portal any time.

Takeover protection

Personal-detail changes sit behind a fresh two-factor check, a verified tax ID locks permanently, and two-factor can never be removed from an investment account.

4After the raise: money out

1. Set the waterfall once. Preferred returns, catch-ups, and promote tiers, solved from real dated cash flows. Or upload your operating agreement and the AI extracts the waterfall, classes, and fees for one-click setup.
2. Run a distribution. Preview shows every investor's cut with the math proof, tier by tier. Mark paid, and each investor gets an email and a statement in their vault.
3. The money follows the holder. Each investing profile carries its own payout bank (the LLC's account, the IRA custodian's, the personal one), verified against the bank registry when saved, so a typo'd routing number is caught before a payout, and an IRA payout goes to the custodian like it must.
4. Tax season in an afternoon. Upload the stack of K-1 PDFs and the AI files each one to the right investor by tax ID.

Performance, honestly

Realized IRR, distributions-to-paid-in, and cash-on-cash versus the underwriting, labeled "to date" because that's what they are. AI can draft the investor update from the actual numbers.

Co-GP economics

Raising with partners? Promote and fee splits route across partners automatically, with attributed fundraising leaderboards.

Back office

GL sync to your books, a REST API, webhooks, and property-management imports.