Before you start
To create a carry vehicle you need:
Super Admin role (see Understanding Roles in Carry)
The basic information for the vehicle (legal name, jurisdiction, related fund)
The carry-specific parameters you intend to apply (total carry shares, lockup period, final liquidation date)
If you do not yet have the carry-specific parameters finalized, you can still create the vehicle and update the configuration later.
Creating the vehicle
A carry vehicle is added to an existing fund, it is not created at the same time as the fund itself. The flow is two steps: first create (or open) the fund, then add a carry vehicle to it.
Step 1: Adding a New Fund
If the fund the carry vehicle will sit under doesn't exist yet, create it first by following Adding a New Fund.
You cannot mark a vehicle as a carry vehicle while adding the new fund — carry configuration is added separately in Step 2.
If the fund already exists, skip to Step 2.
Step 2: Add a carry vehicle to the fund
Open the fund from the Funds list.
Add a new vehicle to the fund and mark it as a carry vehicle.
Provide the carry-specific configuration (see next section).
Save.
Once added, the carry vehicle appears under the fund with a "Carry" pill or tag to make it easy to distinguish from your LP-facing vehicles.
Carry-specific configuration
When a vehicle is marked as a carry vehicle, you will be asked for these additional fields:
Total carry shares — the share pool that will be allocated across all carry holders. For example, if the vehicle has a 100,000-share pool, individual allocations are slices of those 100,000 shares.
Lockup period (years) — the period during which carry held in this vehicle is not freely transferable.
Final liquidation date — the expected wind-down date for the vehicle.
These fields are visible to Super Admins and Admins, and drive how Navys handles drawdowns, allocations, and (once vesting is live) vesting schedules.
What happens next
After the vehicle is created:
It is available immediately as a destination for adding carry holders.
It appears in the Carry section of the left sidebar, where the aggregate dashboards begin pulling in its data.
You can begin recording fund valuations and issuing drawdowns against it.
Editing a carry vehicle
You can edit the vehicle's configuration at any time from the Funds list. Be aware that some changes, for example, reducing total carry shares below the amount already allocated, will be blocked or require confirmation, because they would affect holders' existing positions.
Getting help
For any further questions or assistance, please reach out via the chat on the platform or contact the Navys support team at [email protected].