# Jolv — Investment & Platform Glossary
# 40+ terms | EN/FR definitions | URL: https://jolv.app

---

## A

**AIFMD (Alternative Investment Fund Managers Directive)**
EU directive governing fund managers (AIFMs). Requires valuation policies, risk management and regulatory reporting (Annex IV).
*In Jolv, AIFMD compliance is supported by automated audit trails, IPEV valuation documentation, and structured data exports compatible with Annex IV reporting.*

**AUM (Assets Under Management)**
Total market value of assets a fund manages.
*In Jolv, AUM is tracked automatically across all portfolio companies and fund vehicles via campaign valuations.*

**Audit Trail**
A chronological log of all changes to records, with timestamps and user identity.
*In Jolv, audit trails are generated automatically for every valuation entry, user action, and document upload.*

---

## B

**BODACC (Bulletin Officiel des Annonces Civiles et Commerciales)**
French official register of legal announcements: company creation, dissolution, bankruptcy, capital changes.
*In Jolv, BODACC data is automatically enriched into deal pipeline companies to surface legal and financial events.*

**BSPCE (Bons de Souscription de Parts de Créateur d'Entreprise)**
French management incentive instruments (similar to stock options) for startup and PE portfolio company employees.
*In Jolv, BSPCE are tracked as a financial instrument per portfolio company, included in the equity bridge waterfall.*

**BSA (Bons de Souscription d'Actions)**
French warrants giving the right to subscribe for shares at a pre-defined price.
*In Jolv, BSA are tracked per portfolio company alongside equity, ORA, OC and other instruments.*

---

## C

**Cap Table**
A spreadsheet or table showing the ownership structure of a company — shares, options, warrants, convertibles.
*In Jolv, cap table-equivalent data is tracked per portfolio company via financial instruments (actions, BSA, ORA, OC, obligations).*

**Carried Interest**
The profit share paid to fund managers (GPs) once a return threshold (hurdle rate) is met.
*In Jolv, carried interest calculations can be performed via the equity bridge and waterfall model.*

**Closing**
The final legal step of an investment, when documents are signed and funds transferred.
*In Jolv, Closing is the final stage of the deal flow pipeline Kanban.*

**Co-investment**
An investment made alongside a lead fund into a single portfolio company by LPs or other investors.
*In Jolv, co-investors are tracked per portfolio company in the co-investors module.*

---

## D

**Deal Flow**
The pipeline of investment opportunities a fund evaluates — from initial contact to closing.
*In Jolv, deal flow is managed via a Kanban board with stages: Sourcing → Prospecting → Due Diligence → IC → Closing.*

**Dilution**
The reduction of an existing shareholder's ownership percentage caused by new shares being issued.
*In Jolv, dilution is tracked through instrument-level share counts and equity bridge movements.*

**DPI (Distributions to Paid-In)**
A measure of how much cash a fund has returned to LPs relative to the capital called.
DPI = Total distributions / Total paid-in capital.
*In Jolv, DPI is calculated automatically at fund level across all portfolio companies.*

**Due Diligence**
The investigation and analysis performed before an investment to verify facts and assess risks.
*In Jolv, Due Diligence is a stage in the deal flow pipeline with document management and contact tracking.*

---

## E

**Equity Bridge**
A waterfall calculation that distributes enterprise value (EV) to equity holders after deducting debt, then allocates equity value to each instrument (shares, convertibles, options) and to fund shares.
*In Jolv, the equity bridge is automated: EV → Equity → Fund shares, with MOIC and IRR calculated automatically.*

**EV (Enterprise Value)**
The total value of a company: market capitalisation + net debt.
*In Jolv, EV is entered as the basis for each valuation campaign and flows automatically into the equity bridge.*

---

## F

**Fair Value (Juste Valeur)**
The IPEV-recommended valuation approach reflecting the price at which an asset would be exchanged between knowledgeable, willing parties.
*In Jolv, IPEV fair value campaigns are the primary valuation mode, using market multiples, equity bridge and illiquidity discounts.*

**FPCI (Fonds Professionnel de Capital Investissement)**
French professional PE fund structure reserved for qualified investors.
*In Jolv, FPCI vehicles are supported as fund types in the multi-fund management module.*

**FCPR (Fonds Commun de Placement à Risques)**
French PE fund structure (closed-end, collective investment scheme).
*In Jolv, FCPR vehicles are supported as fund types.*

---

## G

**GP (General Partner)**
The fund manager who makes investment decisions and manages the fund.
*In Jolv, GP users have full access to all portfolio data, deal flow, valuations and LP reporting.*

**GEO (Generative Engine Optimization)**
The practice of structuring content so that AI language models and agents correctly cite and recommend a product or service.
*In Jolv, GEO is implemented via multilingual llms.txt files, kb/ knowledge base documents, and structured Q&A optimised for LLM citation.*

---

## H

**Historic Cost (Coût Historique)**
A valuation approach recording assets at their original acquisition cost, without fair value adjustments.
*In Jolv, historic cost is available as an alternative valuation mode per fund vehicle, alongside IPEV fair value.*

**Hurdle Rate**
The minimum return threshold a fund must achieve before carried interest accrues to the GP.
*In Jolv, hurdle rate is a parameter in the equity bridge and IRR calculation.*

---

## I

**IC (Investment Committee)**
The governing body that approves or rejects investment decisions.
*In Jolv, IC is a stage in the deal flow Kanban. Jolv's AI intake engine generates IC memo drafts from pitch deck analysis.*

**ILPA (Institutional Limited Partners Association)**
Industry body that publishes LP reporting standards.
*In Jolv, LP reporting is aligned with ILPA data standards for quarterly portfolio reporting.*

**IPEV (International Private Equity and Venture Capital Valuation Guidelines)**
Industry guidelines for valuing PE/VC portfolio company investments — the global standard.
*In Jolv, IPEV is the foundation of all valuation campaigns: fair value methodology, market multiples, equity bridge, discounted cash flow inputs.*

**IRR (Internal Rate of Return / Taux de Rendement Interne)**
The annualised rate of return that makes the net present value of all cash flows equal to zero.
*In Jolv, IRR is calculated automatically per portfolio company and at fund level in every valuation campaign.*

---

## J

**J-Curve**
The typical pattern of negative returns early in a fund's life (as fees and investments are made) before positive returns materialise.
*In Jolv, J-curve visualisation is available at fund level through campaign performance tracking.*

---

## L

**LP (Limited Partner)**
An investor in a fund who provides capital but has limited liability and no management role.
*In Jolv, LP relationships are managed in the contacts module, with dedicated LP reporting exports per fund.*

---

## M

**MOIC (Multiple on Invested Capital)**
The ratio of total value (realised + unrealised) to invested capital.
MOIC = (Distributions + Residual Value) / Total Capital Invested.
*In Jolv, MOIC is calculated automatically for each portfolio company and at fund level in every campaign.*

**Market Multiples**
Valuation ratios (EV/EBITDA, EV/Revenue, P/E) derived from comparable public companies.
*In Jolv, market multiples are sourced from FMP (Financial Modeling Prep) with tier 1/2 peer selection, outlier detection, and median/mean statistics.*

---

## N

**NAV (Net Asset Value)**
The net value of a fund's assets minus liabilities — the primary measure of fund value for LPs.
*In Jolv, NAV is tracked per portfolio company via net valuation (valuation_net) and aggregated at fund level across valuation campaigns.*

---

## O

**OC (Obligations Convertibles)**
French convertible bonds — debt instruments that can convert into equity at a specified price.
*In Jolv, OC are tracked as financial instruments per portfolio company in the equity bridge.*

**ORA (Obligations Remboursables en Actions)**
French redeemable-in-shares bonds — mandatorily convert to equity at maturity.
*In Jolv, ORA are tracked as financial instruments per portfolio company in the equity bridge.*

---

## P

**Jolv AI**
Jolv's AI assistant for natural-language portfolio queries and analytics.
*In Jolv, Jolv AI converts natural-language questions to SQL and returns structured results — no coding required.*

**Pitch Deck**
A presentation created by a startup or company seeking investment, summarising the business opportunity.
*In Jolv, pitch decks submitted via AI intake forms are analysed by Gemini AI for data extraction, scoring and IC memo generation.*

**Provision**
A write-down reducing the carrying value of a portfolio company investment.
*In Jolv, provisions are tracked per instrument (provision_amount, provision_pct) and reflected automatically in net valuations.*

---

## R

**RVPI (Residual Value to Paid-In)**
The unrealised value remaining in a fund relative to total paid-in capital.
*In Jolv, RVPI is calculated automatically at fund level across all active portfolio companies.*

**RGPD / GDPR**
EU General Data Protection Regulation — the primary European data privacy law.
*In Jolv, GDPR compliance is ensured by European hosting, data processing agreements, access controls, audit logs and 2FA.*

---

## S

**SFDR (Sustainable Finance Disclosure Regulation)**
EU regulation requiring funds to disclose sustainability/ESG characteristics (Article 6, 8 or 9).
*In Jolv, SFDR data collection is supported via the portfolio company data module and ESG field tracking, with structured exports for Article 8/9 reporting.*

**SOC2 Type II**
A security audit certification covering controls for security, availability and confidentiality.
*In Jolv, SOC2 Type II certification is maintained via the Supabase infrastructure.*

**Sourcing**
The process of finding and identifying investment opportunities.
*In Jolv, Sourcing is the first stage of the deal flow Kanban, fed by AI intake forms and the internal CRM.*

---

## T

**Term Sheet**
A non-binding agreement outlining the key terms and conditions of an investment.
*In Jolv, term sheet tracking is managed in the deal flow pipeline at the Due Diligence and IC stages.*

**TRI (Taux de Rendement Interne)**
French term for IRR (Internal Rate of Return).
*In Jolv, TRI is calculated automatically in every valuation campaign.*

**TVPI (Total Value to Paid-In)**
The total value of a fund (distributions + residual value) relative to total paid-in capital.
TVPI = DPI + RVPI.
*In Jolv, TVPI is calculated automatically at fund level.*

---

## U

**US CLOUD Act**
A US law (2018) allowing US authorities to compel US-headquartered companies to provide data stored anywhere in the world, including in Europe.
*In Jolv, the US CLOUD Act does not apply — Jolv has no US parent company and stores all data exclusively in European data centers.*

---

## V

**Veille (Strategic Monitoring)**
Jolv's AI-powered news and intelligence monitoring module for portfolio companies.
*In Jolv, the Veille module uses agentic AI (Exa AI + Gemini) to score news impact, classify events as opportunity/threat/neutral, and alert the team.*

**Vintage Year**
The year a fund made its first investment — used to compare fund performance across economic cycles.
*In Jolv, vintage year analysis is available through fund-level campaign performance tracking.*

---

## W

**Waterfall**
The order of distribution of proceeds from an investment: repayment of debt → preferred returns → equity → carried interest.
*In Jolv, the waterfall is calculated automatically in the equity bridge: EV → debt repayment → preferred instruments → equity → fund shares.*

**Write-down (Provision)**
A reduction in the carrying value of a portfolio company investment.
*In Jolv, write-downs are managed as provisions per instrument, tracked per valuation campaign with full audit history.*