Xwealth · Scope Extension · Xwealth.Funds

Xwealth.Funds
Fund structuring & lifecycle,
as a service

A sponsor arrives with a building and an intention. Xwealth.Funds turns that into a constituted fund, an incorporated SPV chain, a signed document pack, and a unit that can be subscribed for on the same platform that will later report on it.

7 modules · G1–G7 Real estate first vertical ADGM · FSRA Feeds Domain B distribution Triggers Ripple mint

Hover any tier of the structure to see which module owns it.

The boundary

Xwealth is the spine. Licensed parties remain the actors.

The commercial appeal of "fund definition as a service" is also its regulatory hazard. Fund management, fund administration, company incorporation and legal opinion are each licensed activities in ADGM. Xwealth.Funds is designed so the platform orchestrates, records and evidences — and never performs — a regulated act.

Design rule carried through every module

Every regulated output in Xwealth.Funds has a named external principal attached to it in the data model. A valuation carries its valuer. A NAV carries its administrator. A document pack carries its counsel sign-off. If the principal is absent, the record cannot advance state.

What Xwealth.Funds does

  • Captures fund structure as versioned, validated, machine-readable data
  • Maintains the entity and ownership graph down to the asset
  • Orchestrates appointments, filings and incorporation cases with licensed providers
  • Assembles document packs from a governed clause library
  • Models economics — fees, hurdle, carry, waterfall — and reconciles to the administrator
  • Runs the capital event machine: closings, calls, drawdowns, distributions, redemptions
  • Publishes the constituted fund into Domain B as a distributable product

What Xwealth.Funds never does

  • Act as fund manager, administrator or registrar
  • Incorporate an entity directly — the CSP does, the platform tracks the case
  • Originate or derive a property valuation
  • Strike the official NAV
  • Release a PPM or subscription pack without recorded counsel sign-off
  • Assert regulatory approval — only assemble and evidence the submission
  • Decide investor eligibility — that stays in Domain C, independent of the sponsor

Module explorer

Seven modules, upstream of distribution

Xwealth.Funds sits before Domain B in the value chain and beside Domain D in the technical one. Modules retain their G-prefixed identifiers for continuity with REL-01. Select a module for its entities, capabilities, API surface, emitted events and control gates.

G7 state machine

The fund lifecycle, and where the token appears

The critical architectural change: minting is no longer a standalone issuance action. A mint is a consequence of a closing. Units exist because capital was committed and admitted, not because an operator pressed a button.

G4 economics

Distribution waterfall — modelled, simulated, reconciled

Illustrative European (whole-of-fund) waterfall for a closed-ended real estate fund. G4 holds the tiers as configuration, simulates outcomes before a distribution is authorised, and reconciles the result against the administrator's calculation before G7 pays.

Control

Licensed-party responsibility matrix

The document to put in front of the sponsor and, later, the regulator.

ActivityPerformed byXwealth roleEvidence held in platform

Retrospective

What Xwealth.Funds changes in Domains A–F

Adding Xwealth.Funds is not additive-only. It reaches back into every existing domain, and materially into C and E. Module count moves from 19 to 26; REL-01's dependency graph and hub analysis need re-running with G in place.

DomainChangeConsequence for existing specification

Recommendation

Take the spine now, defer the depth

Merging Xwealth.Funds into the MVP wholesale risks two half-built products. The proposal below keeps the sponsor's journey demonstrable end-to-end while holding back the modules whose value only appears after a fund has been operating for a year.

Phase 1 · in MVP

Structure to first close

  • G1 fund design at full depth
  • G2 entity graph and UBO cascade
  • G3 asset register, single-property funds
  • G5 term sheet and subscription pack, counsel gate live
  • G7 closing and commitment register only
  • Publish to B; mint on close via D

Phase 2

Operate the fund

  • G4 full waterfall, NAV policy, capital accounts
  • G6 provider marketplace and FSRA filing packs
  • G7 capital calls, drawdowns, distributions
  • G3 valuation cycle, LTV and DSCR monitors
  • E capital account statements

Phase 3

Scale and exit

  • Multi-asset and multi-SPV portfolios
  • Feeder and parallel structures, side letters
  • Redemption windows, gates, transfers
  • Secondary unit trading in B
  • Wind-down and terminal distribution
  • Verticals beyond real estate: private credit, infrastructure