Template
Capital call notice template
A capital call notice (also known as a drawdown notice) is a formal letter sent by a fund's general partner to its limited partners, requesting them to contribute a portion of their committed capital. It is one of the most important operational documents in fund management.
Getting the capital call notice right matters — it's often the first formal communication an LP receives, and errors in allocation amounts or wire instructions can erode trust and cause operational headaches.
What to include in a capital call notice
A properly structured capital call notice should contain the following elements:
- Fund name and notice date — The legal name of the fund and the date the notice is issued
- Call purpose — The reason for the call (new investment, management fees, fund expenses, follow-on investment)
- Total call amount — The aggregate amount being called from all investors
- Investor-specific allocation — The individual LP's share based on their commitment percentage
- Commitment summary — Total commitment, previously called amount, this call amount, and remaining unfunded commitment
- Due date — The date by which the LP must transfer funds (typically 10–15 business days)
- Wire instructions — Bank name, account number, SWIFT code, and reference details
Sample capital call notice format
CAPITAL CALL NOTICE #8
Date: 15 December 2024
Fund: SEA Fund I LP
Purpose: Portfolio investment and Q4 2024 management fee
Dear [Investor Name],
Pursuant to Section [X] of the Limited Partnership Agreement, the General Partner hereby calls the following amount from your unfunded commitment:
Total call amount: USD 8,750,000
Your pro-rata share: USD [amount]
Please remit payment by 30 December 2024 to the following account:
Bank: DBS Bank, Singapore
Account: SEA Fund I LP
Account No: XXXX-XXXX-XXX
SWIFT: DBSSSGSG
Reference: CC8-[Investor Code]
How capital call allocations work
The most common allocation method is pro-rata by commitment. If an investor committed 10% of the fund's total commitments, they are responsible for 10% of each capital call.
| Investor | Commitment | % Share | Call Amount |
|---|---|---|---|
| Oceanic Capital LP | USD 15,000,000 | 12.0% | USD 1,050,000 |
| Horizon Ventures III | USD 25,000,000 | 20.0% | USD 1,750,000 |
| Meridian Growth Partners | USD 20,000,000 | 16.0% | USD 1,400,000 |
| Atlas Strategic Holdings | USD 18,000,000 | 14.4% | USD 1,260,000 |
| Other LPs (4) | USD 47,000,000 | 37.6% | USD 3,290,000 |
| Total | USD 125,000,000 | 100% | USD 8,750,000 |
Common mistakes in capital call notices
- Outdated wire instructions — Always verify bank details before issuing notices, especially after switching banks.
- Missing equalisation adjustments — If new investors joined after the first close, earlier investors may have been over-called and need equalisation.
- Sending the wrong notice to the wrong investor — When generating individual PDFs manually, it is easy to attach the wrong file to the wrong email.
Automating capital call notices
Instead of manually calculating allocations in a spreadsheet and drafting notices in Word, modern fund accounting platforms like Portled let you enter the call amount, auto-allocate by commitment, generate individual PDF notices per investor, and email them directly from the platform — eliminating manual errors and saving you hours.