diff --git a/backend/alembic/versions/d0e1f2a3b4c5_docs_seen_at.py b/backend/alembic/versions/d0e1f2a3b4c5_docs_seen_at.py
new file mode 100644
index 0000000..ed57688
--- /dev/null
+++ b/backend/alembic/versions/d0e1f2a3b4c5_docs_seen_at.py
@@ -0,0 +1,27 @@
+"""add users.docs_seen_at (portal "New" document badge watermark)
+
+Revision ID: d0e1f2a3b4c5
+Revises: c9d0e1f2a3b4
+Create Date: 2026-07-03 09:00:00.000000
+
+"""
+from typing import Sequence, Union
+
+from alembic import op
+import sqlalchemy as sa
+
+
+revision: str = 'd0e1f2a3b4c5'
+down_revision: Union[str, None] = 'c9d0e1f2a3b4'
+branch_labels: Union[str, Sequence[str], None] = None
+depends_on: Union[str, Sequence[str], None] = None
+
+
+def upgrade() -> None:
+    with op.batch_alter_table('users', schema=None) as batch_op:
+        batch_op.add_column(sa.Column('docs_seen_at', sa.DateTime(), nullable=True))
+
+
+def downgrade() -> None:
+    with op.batch_alter_table('users', schema=None) as batch_op:
+        batch_op.drop_column('docs_seen_at')
diff --git a/backend/ten31portal/cli.py b/backend/ten31portal/cli.py
index 98087f6..9bb8187 100644
--- a/backend/ten31portal/cli.py
+++ b/backend/ten31portal/cli.py
@@ -87,6 +87,42 @@ def reset_password(args: argparse.Namespace) -> None:
         print(f"Password reset for {user.name} ({user.username}).")
 
 
+def enable_investor_logins(args: argparse.Namespace) -> None:
+    """Give every no-login investor account the shared default password and enable sign-in.
+
+    Targets investor-role accounts with login_enabled=False that log in on their own
+    (linked secondary names are skipped — they sign in under their primary). Accounts that
+    already have a working login are never touched.
+    """
+    run_migrations()
+
+    from ten31portal.models import UserRole
+
+    with Session(engine) as session:
+        users = session.exec(
+            select(User).where(
+                User.role == UserRole.investor,
+                User.login_enabled == False,  # noqa: E712 — SQL expression
+                User.primary_account_id == None,  # noqa: E711
+            ).order_by(User.name)  # type: ignore[arg-type]
+        ).all()
+        if not users:
+            print("Nothing to do — every investor account already has a login.")
+            return
+        for u in users:
+            u.password_hash = hash_password(config.DEFAULT_INVESTOR_PASSWORD)
+            u.login_enabled = True
+            session.add(u)
+        session.commit()
+        for u in users:
+            print(f"Enabled login for {u.name} ({u.username})")
+        print(
+            f"\n{len(users)} investor account(s) set to the default password "
+            f"'{config.DEFAULT_INVESTOR_PASSWORD}'. Each investor should change it in the "
+            "portal (Change password)."
+        )
+
+
 def show_admin_password(args: argparse.Namespace) -> None:
     """Print the randomly-generated initial admin password recorded on first boot."""
     path = config.ADMIN_PASSWORD_FILE
@@ -234,6 +270,29 @@ def reset_holdings(args: argparse.Namespace) -> None:
               f"Re-import the fund's NAV to repopulate it.")
 
 
+def reset_partners(args: argparse.Namespace) -> None:
+    """Remove all partners (capital-account statements + access grants) from one fund."""
+    run_migrations()
+    from ten31portal.models import Entity
+    from ten31portal.routers.capital_import_router import reset_entity_partners
+
+    with Session(engine) as session:
+        entity = None
+        if args.entity_id:
+            entity = session.get(Entity, args.entity_id)
+        elif args.name:
+            entity = session.exec(select(Entity).where(Entity.name == args.name)).first()
+        if entity is None:
+            print(f"Error: no fund found for '{args.name or args.entity_id}'. "
+                  f"Check the exact name with list-funds.", file=sys.stderr)
+            sys.exit(1)
+        res = reset_entity_partners(entity.id, session)
+        session.commit()
+        print(f"Cleared partners from {entity.name}: removed {res['statements']} capital "
+              f"statement(s) and {res['access_grants']} access grant(s). "
+              f"Investor accounts were kept. Re-import the correct roster to repopulate.")
+
+
 def list_funds(args: argparse.Namespace) -> None:
     """Print every entity's id and name (so the exact name is known for reset-holdings)."""
     run_migrations()
@@ -268,6 +327,11 @@ def main() -> None:
 
     sub.add_parser("list-users", help="List all user accounts")
 
+    sub.add_parser(
+        "enable-investor-logins",
+        help="Set every no-login investor account to the default password and enable sign-in",
+    )
+
     sub.add_parser("show-admin-password", help="Show the initial admin password from first boot")
 
     delete = sub.add_parser("delete-user", help="Delete a user (not the Service Admin)")
@@ -284,6 +348,10 @@ def main() -> None:
     reset.add_argument("--name", required=False, default=None, help="Exact fund name")
     reset.add_argument("--entity-id", type=int, required=False, default=None)
 
+    rparts = sub.add_parser("reset-partners", help="Remove all partners (capital accounts + access) from a fund")
+    rparts.add_argument("--name", required=False, default=None, help="Exact fund name")
+    rparts.add_argument("--entity-id", type=int, required=False, default=None)
+
     args = parser.parse_args()
     if args.command == "create-user":
         create_user(args)
@@ -291,6 +359,8 @@ def main() -> None:
         reset_password(args)
     elif args.command == "list-users":
         list_users(args)
+    elif args.command == "enable-investor-logins":
+        enable_investor_logins(args)
     elif args.command == "show-admin-password":
         show_admin_password(args)
     elif args.command == "delete-user":
@@ -301,6 +371,8 @@ def main() -> None:
         list_funds(args)
     elif args.command == "reset-holdings":
         reset_holdings(args)
+    elif args.command == "reset-partners":
+        reset_partners(args)
     else:
         parser.print_help()
 
diff --git a/backend/ten31portal/config.py b/backend/ten31portal/config.py
index 9643d4e..837edcb 100644
--- a/backend/ten31portal/config.py
+++ b/backend/ten31portal/config.py
@@ -11,6 +11,11 @@ DOCS_DIR: str = os.getenv("TEN31_DOCS_DIR", "/data/ten31portal/documents")
 # also bounds spreadsheet imports (which must be read fully into memory to parse).
 MAX_UPLOAD_SIZE: int = int(os.getenv("TEN31_MAX_UPLOAD_SIZE", str(50 * 1024 * 1024)))
 
+# Investor accounts created by the eNAV import (and existing no-login accounts converted via
+# the enable-investor-logins CLI/action) start with this password so the admin can hand out
+# credentials easily; each investor changes it via the portal's own Change password.
+DEFAULT_INVESTOR_PASSWORD: str = os.getenv("TEN31_DEFAULT_INVESTOR_PASSWORD", "Ten31Portal")
+
 # Where start.sh records the randomly-generated initial admin password on first boot, so the
 # operator can retrieve it once (via the "Show Initial Admin Password" service action) and then
 # change it. Lives next to the DB on the 0600 data volume; removed once the password is reset.
diff --git a/backend/ten31portal/models.py b/backend/ten31portal/models.py
index 7c57bbe..de014d0 100644
--- a/backend/ten31portal/models.py
+++ b/backend/ten31portal/models.py
@@ -39,6 +39,7 @@ class EntityType(str, enum.Enum):
     spv = "spv"
     gp = "gp"
     mgmt_co = "mgmt_co"
+    carry = "carry"
 
 
 class EntityStatus(str, enum.Enum):
@@ -75,6 +76,9 @@ class User(SQLModel, table=True):
     primary_account_id: int | None = Field(default=None, foreign_key="users.id", index=True)
     # Fund-administrator investor ID (from the eNAV ALLOC SI tab) for idempotent re-import.
     external_investor_id: str | None = Field(default=None, sa_column=Column(String, nullable=True))
+    # When this investor last loaded their documents list — docs newer than this get a "New"
+    # badge in the portal. Null until their first visit (nothing badged for brand-new logins).
+    docs_seen_at: datetime | None = Field(default=None)
     created_at: datetime = Field(default_factory=datetime.utcnow)
 
 
diff --git a/backend/ten31portal/routers/auth_router.py b/backend/ten31portal/routers/auth_router.py
index 084b9dd..2854de1 100644
--- a/backend/ten31portal/routers/auth_router.py
+++ b/backend/ten31portal/routers/auth_router.py
@@ -87,8 +87,8 @@ def change_password(
     """Let the signed-in user set their own password (after confirming the current one)."""
     if not verify_password(body.current_password, user.password_hash):
         raise HTTPException(status_code=400, detail="Current password is incorrect.")
-    if len(body.new_password) < 4:
-        raise HTTPException(status_code=400, detail="New password must be at least 4 characters.")
+    if len(body.new_password) < 8:
+        raise HTTPException(status_code=400, detail="New password must be at least 8 characters.")
     user.password_hash = hash_password(body.new_password)
     session.add(user)
     session.commit()
diff --git a/backend/ten31portal/routers/capital_import_router.py b/backend/ten31portal/routers/capital_import_router.py
index 5bb37fd..1b5f6ea 100644
--- a/backend/ten31portal/routers/capital_import_router.py
+++ b/backend/ten31portal/routers/capital_import_router.py
@@ -6,20 +6,19 @@ Fallback: a subaccounts sheet (investor names across columns, per-vehicle value
 
 Encrypted workbooks are decrypted with the open password. Nothing is written on preview.
 Commit matches existing members (by fund-admin investor ID, else name), creates new ones
-(without a login unless a password is given), grants entity access, and loads each member's
-capital-account statement (commitment, contributions, distributions, current value).
+(on the shared default password unless one is given), grants entity access, and loads each
+member's capital-account statement (commitment, contributions, distributions, current value).
 """
 
 import io
 import re
-import secrets
 from datetime import date, datetime
 
 import openpyxl
 from fastapi import APIRouter, Depends, File, Form, HTTPException, UploadFile
 from sqlmodel import Session, select
 
-from ten31portal import storage
+from ten31portal import config, storage
 from ten31portal.audit import record_audit
 from ten31portal.auth import hash_password, require_internal_admin
 from ten31portal.database import get_session
@@ -38,6 +37,39 @@ MAX_ROWS = 400
 MAX_COLS = 90
 
 
+def reset_entity_partners(entity_id: int, session: Session) -> dict[str, int]:
+    """Remove every partner from one fund: delete its capital-account statements and the
+    investors' access grants to it. The investor *accounts* are kept — they usually also
+    belong to other funds — only their membership of THIS entity is cleared. Use to undo a
+    wrong members/ALLOC-SI import (e.g. Fund II's roster loaded into Fund III). Holdings/NAV
+    are untouched (see reset_entity_holdings for those). Caller commits.
+    """
+    statements = 0
+    for s in session.exec(
+        select(CapitalAccountStatement).where(
+            CapitalAccountStatement.entity_id == entity_id
+        )
+    ).all():
+        session.delete(s)
+        statements += 1
+
+    # Only drop investor memberships; a fund_administrator's access is not a "partner".
+    investor_ids = {
+        u.id for u in session.exec(
+            select(User).where(User.role == UserRole.investor)
+        ).all()
+    }
+    access = 0
+    for a in session.exec(
+        select(EntityAccess).where(EntityAccess.entity_id == entity_id)
+    ).all():
+        if a.user_id in investor_ids:
+            session.delete(a)
+            access += 1
+
+    return {"statements": statements, "access_grants": access}
+
+
 def _slug_username(name: str) -> str:
     base = re.sub(r"[^a-z0-9]+", "", name.lower())
     return base or "investor"
@@ -282,14 +314,16 @@ def commit_import(
                 raise HTTPException(status_code=409, detail=f"Username '{inv.username}' already taken.")
             if inv.email and session.exec(select(User).where(User.email == inv.email)).first():
                 raise HTTPException(status_code=409, detail=f"Email '{inv.email}' already in use.")
-            pw = inv.password or secrets.token_urlsafe(32)
+            # New members start on the shared default password (login enabled) so the admin
+            # can send credentials right away; each investor rotates it in the portal.
+            pw = inv.password or config.DEFAULT_INVESTOR_PASSWORD
             user = User(
                 name=inv.name,
                 username=inv.username,
                 email=inv.email or None,
                 password_hash=hash_password(pw),
                 role=UserRole.investor,
-                login_enabled=bool(inv.password),
+                login_enabled=True,
                 external_investor_id=inv.external_id,
             )
             session.add(user)
diff --git a/backend/ten31portal/routers/document_router.py b/backend/ten31portal/routers/document_router.py
index 13881eb..9241556 100644
--- a/backend/ten31portal/routers/document_router.py
+++ b/backend/ten31portal/routers/document_router.py
@@ -1,5 +1,7 @@
 """Document upload, listing, download, and deletion with per-account access control."""
 
+from datetime import datetime, timedelta
+
 from fastapi import APIRouter, Depends, File, Form, HTTPException, UploadFile
 from fastapi.responses import FileResponse
 from sqlmodel import Session, select
@@ -58,7 +60,25 @@ def list_documents(
         query = query.where(Document.investor_user_id == investor_user_id)
     rows = session.exec(query.order_by(Document.created_at.desc())).all()  # type: ignore[union-attr]
     visible = [d for d in rows if _can_view(user, d, session)]
-    return [DocumentResponse.model_validate(d, from_attributes=True) for d in visible]
+
+    # Badge docs that arrived since the investor's previous visit. Badges show on the first
+    # page-load after new documents arrive; the watermark advances at most once per 30 minutes
+    # so rapid refetches don't rewrite the row. First ever visit (no watermark) badges nothing —
+    # everything would be "new".
+    seen_before = user.docs_seen_at if user.role == UserRole.investor else None
+    if user.role == UserRole.investor:
+        now = datetime.utcnow()
+        if user.docs_seen_at is None or (now - user.docs_seen_at) > timedelta(minutes=30):
+            user.docs_seen_at = now
+            session.add(user)
+            session.commit()
+
+    return [
+        DocumentResponse.model_validate(d, from_attributes=True).model_copy(
+            update={"is_new": seen_before is not None and d.created_at > seen_before}
+        )
+        for d in visible
+    ]
 
 
 @router.post("", status_code=201)
diff --git a/backend/ten31portal/routers/entity_router.py b/backend/ten31portal/routers/entity_router.py
index b7976af..d632dea 100644
--- a/backend/ten31portal/routers/entity_router.py
+++ b/backend/ten31portal/routers/entity_router.py
@@ -148,6 +148,26 @@ def list_partners(
     return result
 
 
+@router.delete("/{entity_id}/partners")
+def clear_partners(
+    entity_id: int,
+    user: User = Depends(require_writer),
+    session: Session = Depends(get_session),
+) -> dict[str, int]:
+    """Remove all partners from this fund — deletes its capital-account statements and the
+    investors' access grants, but keeps the investor accounts (they belong to other funds).
+    For undoing a wrong members import. Holdings/NAV are not affected."""
+    # Local import avoids a module-load cycle (capital_import_router imports import_router).
+    from ten31portal.routers.capital_import_router import reset_entity_partners
+
+    if session.get(Entity, entity_id) is None:
+        raise HTTPException(status_code=404, detail="Entity not found")
+    res = reset_entity_partners(entity_id, session)
+    record_audit(session, user.id, "clear_partners", "entity", entity_id, res)
+    session.commit()
+    return res
+
+
 @router.get("")
 def list_entities(
     user: User = Depends(get_current_user),
diff --git a/backend/ten31portal/schemas.py b/backend/ten31portal/schemas.py
index 86f5195..9bb79eb 100644
--- a/backend/ten31portal/schemas.py
+++ b/backend/ten31portal/schemas.py
@@ -212,6 +212,8 @@ class DocumentResponse(BaseModel):
     size_bytes: int
     uploaded_by: int | None
     created_at: datetime
+    # True for an investor when the doc arrived since their previous portal visit.
+    is_new: bool = False
 
 
 # --- Capital account ---
@@ -310,7 +312,7 @@ class ImportCommitInvestor(BaseModel):
     name: str | None = None           # for action=create
     username: str | None = None       # for action=create
     email: str | None = None
-    password: str | None = None       # for action=create; omit to create without a login
+    password: str | None = None       # for action=create; omit for the shared default password
     external_id: str | None = None    # fund-admin INVESTOR ID, stored for re-import matching
 
 
diff --git a/backend/tests/test_clear_partners.py b/backend/tests/test_clear_partners.py
new file mode 100644
index 0000000..5e7205b
--- /dev/null
+++ b/backend/tests/test_clear_partners.py
@@ -0,0 +1,60 @@
+"""Clearing a fund's partners removes only that fund's statements + access grants,
+never the investor accounts (which may belong to other funds)."""
+
+from datetime import date
+
+from ten31portal.models import (
+    CapitalAccountStatement, Entity, EntityAccess, EntityType, User, UserRole,
+)
+
+
+def _make_fund(session, name):
+    e = Entity(name=name, type=EntityType.fund)
+    session.add(e)
+    session.commit()
+    session.refresh(e)
+    return e
+
+
+def _add_partner(session, entity_id, user_id, ending):
+    session.add(EntityAccess(user_id=user_id, entity_id=entity_id))
+    session.add(CapitalAccountStatement(
+        entity_id=entity_id, investor_user_id=user_id, as_of_date=date(2025, 12, 31),
+        commitment_cents=0, beginning_balance_cents=0, contributions_cents=0,
+        distributions_cents=0, ending_balance_cents=ending,
+    ))
+    session.commit()
+
+
+def test_clear_partners_scoped_to_one_fund(auth_client, session):
+    from tests.conftest import make_user
+
+    fund2 = _make_fund(session, "Low Time Preference Fund II, LLC")
+    fund3 = _make_fund(session, "Low Time Preference Fund III, LP")
+    lp = make_user(session, username="lp1", role=UserRole.investor, name="LP One")
+    # Same investor is a partner in BOTH funds (the real-world case that caused the mixup).
+    _add_partner(session, fund2.id, lp.id, 1_000_00)
+    _add_partner(session, fund3.id, lp.id, 2_000_00)
+
+    resp = auth_client.delete(f"/api/entities/{fund3.id}/partners")
+    assert resp.status_code == 200, resp.text
+    assert resp.json() == {"statements": 1, "access_grants": 1}
+
+    # Fund III is wiped of partners...
+    assert session.exec(
+        CapitalAccountStatement.__table__.select().where(
+            CapitalAccountStatement.entity_id == fund3.id
+        )
+    ).first() is None
+    assert session.exec(
+        EntityAccess.__table__.select().where(EntityAccess.entity_id == fund3.id)
+    ).first() is None
+    assert auth_client.get(f"/api/entities/{fund3.id}/partners").json() == []
+
+    # ...but Fund II keeps its partner, and the investor account still exists.
+    assert len(auth_client.get(f"/api/entities/{fund2.id}/partners").json()) == 1
+    assert session.get(User, lp.id) is not None
+
+
+def test_clear_partners_missing_entity_404(auth_client):
+    assert auth_client.delete("/api/entities/99999/partners").status_code == 404
diff --git a/backend/tests/test_lp_polish.py b/backend/tests/test_lp_polish.py
new file mode 100644
index 0000000..b9d3c51
--- /dev/null
+++ b/backend/tests/test_lp_polish.py
@@ -0,0 +1,134 @@
+"""0.2.32 LP-facing behavior: 8-char password floor, default investor password,
+enable-investor-logins conversion, and the documents "New" badge watermark."""
+
+from datetime import datetime, timedelta
+
+from sqlmodel import select
+
+from ten31portal import config
+from ten31portal.auth import hash_password, verify_password
+from ten31portal.models import (
+    Document, Entity, EntityAccess, EntityType, User, UserRole,
+)
+from tests.conftest import make_user
+
+
+def _login(client, username, password):
+    return client.post("/api/auth/login", json={"login": username, "password": password})
+
+
+def test_change_password_requires_eight_chars(auth_client):
+    resp = auth_client.post(
+        "/api/auth/change-password",
+        json={"current_password": "password123", "new_password": "short7c"},
+    )
+    assert resp.status_code == 400
+    assert "8 characters" in resp.json()["detail"]
+
+    resp = auth_client.post(
+        "/api/auth/change-password",
+        json={"current_password": "password123", "new_password": "longenough8"},
+    )
+    assert resp.status_code == 200
+
+
+def test_import_created_member_gets_default_password(auth_client, session):
+    entity = Entity(name="Test Fund", type=EntityType.fund)
+    session.add(entity)
+    session.commit()
+
+    resp = auth_client.post(
+        "/api/import/capital-accounts/commit",
+        json={
+            "entity_id": entity.id,
+            "as_of_date": "2026-03-31",
+            "investors": [{
+                "action": "create",
+                "name": "New LP",
+                "username": "newlp",
+                "value_dollars": 100_000,
+            }],
+        },
+    )
+    assert resp.status_code == 200, resp.text
+
+    user = session.exec(select(User).where(User.username == "newlp")).one()
+    assert user.login_enabled is True
+    assert verify_password(config.DEFAULT_INVESTOR_PASSWORD, user.password_hash)
+
+    # And the account can actually sign in with it.
+    resp = _login(auth_client, "newlp", config.DEFAULT_INVESTOR_PASSWORD)
+    assert resp.status_code == 200, resp.text
+
+
+def test_enable_investor_logins_converts_only_no_login_accounts(session):
+    from ten31portal.cli import enable_investor_logins  # imported here: cli pulls in argparse setup
+
+    no_login = make_user(session, username="dormant", role=UserRole.investor,
+                         login_enabled=False, name="Dormant LP")
+    has_login = make_user(session, username="active-lp", role=UserRole.investor,
+                          password="theirownpw", name="Active LP")
+    linked = make_user(session, username="linked", role=UserRole.investor,
+                       login_enabled=False, primary_account_id=has_login.id, name="Linked Name")
+    old_active_hash = has_login.password_hash
+
+    # Run the conversion against the test engine (CLI normally uses the real one).
+    import ten31portal.cli as cli_mod
+    orig_engine, orig_migrate = cli_mod.engine, cli_mod.run_migrations
+    cli_mod.engine = session.get_bind()
+    cli_mod.run_migrations = lambda: None
+    try:
+        enable_investor_logins(None)
+    finally:
+        cli_mod.engine, cli_mod.run_migrations = orig_engine, orig_migrate
+
+    session.refresh(no_login)
+    session.refresh(has_login)
+    session.refresh(linked)
+    assert no_login.login_enabled is True
+    assert verify_password(config.DEFAULT_INVESTOR_PASSWORD, no_login.password_hash)
+    # Working logins and linked secondary names are untouched.
+    assert has_login.password_hash == old_active_hash
+    assert linked.login_enabled is False
+
+
+def test_documents_new_badge(client, session):
+    entity = Entity(name="Badge Fund", type=EntityType.fund)
+    session.add(entity)
+    session.commit()
+    lp = make_user(session, username="lp", role=UserRole.investor, password="password123")
+    session.add(EntityAccess(user_id=lp.id, entity_id=entity.id))
+
+    old_doc = Document(
+        entity_id=entity.id, category="statement", title="Old statement",
+        original_filename="old.pdf", content_type="application/pdf", size_bytes=1,
+        storage_path="x-old", created_at=datetime.utcnow() - timedelta(days=30),
+    )
+    session.add(old_doc)
+    session.commit()
+
+    assert _login(client, "lp", "password123").status_code == 200
+
+    # First ever visit: nothing badged (no watermark yet), watermark gets set.
+    docs = client.get("/api/documents").json()
+    assert [d["is_new"] for d in docs] == [False]
+
+    # A doc uploaded after that visit is badged next time; pretend the visit was yesterday.
+    session.refresh(lp)
+    lp.docs_seen_at = datetime.utcnow() - timedelta(days=1)
+    session.add(lp)
+    new_doc = Document(
+        entity_id=entity.id, category="k1", title="Fresh K-1",
+        original_filename="k1.pdf", content_type="application/pdf", size_bytes=1,
+        storage_path="x-new",
+    )
+    session.add(new_doc)
+    session.commit()
+
+    docs = client.get("/api/documents").json()
+    flags = {d["title"]: d["is_new"] for d in docs}
+    assert flags == {"Fresh K-1": True, "Old statement": False}
+
+    # Within the same visit (watermark just advanced) the badge computation stays stable.
+    docs = client.get("/api/documents").json()
+    assert all(d["is_new"] is False for d in docs)  # watermark now newer than both docs
diff --git a/deploy/package.json b/deploy/package.json
index e30174e..e295c52 100644
--- a/deploy/package.json
+++ b/deploy/package.json
@@ -1,6 +1,6 @@
 {
   "name": "ten31portal-startos",
-  "version": "0.2.26",
+  "version": "0.2.32",
   "private": true,
   "scripts": {
     "build": "npm run check && rm -rf ./javascript && ncc build startos/index.ts -o ./javascript",
diff --git a/deploy/startos/actions/index.ts b/deploy/startos/actions/index.ts
index b2cbb58..bedc525 100644
--- a/deploy/startos/actions/index.ts
+++ b/deploy/startos/actions/index.ts
@@ -414,12 +414,97 @@ const resetHoldingsAction = Action.withInput(
   },
 )
 
+// ============================================
+// Action: Reset Fund Partners
+// ============================================
+const resetPartnersInputSpec = InputSpec.of({
+  name: Value.text({
+    name: 'Fund Name',
+    description: 'Exact name of the fund whose partners to clear (see List Funds)',
+    default: '',
+    required: true,
+    placeholder: 'Low Time Preference Fund III, LP',
+  }),
+})
+
+const resetPartnersAction = Action.withInput(
+  'reset-partners',
+  {
+    name: 'Reset Fund Partners',
+    description:
+      "Remove every partner from a fund — deletes its investor capital-account statements and their access grants to it. Use to undo a wrong members import (e.g. another fund's roster loaded into this one). Investor accounts themselves are kept, and holdings/NAV are not affected (use Reset Fund Holdings for those).",
+    warning:
+      "This permanently deletes this fund's capital-account statements and removes investors' access to it. Investor accounts are kept. Re-import the correct roster afterward to repopulate.",
+    allowedStatuses: 'only-running',
+    group: null,
+    visibility: 'enabled',
+  },
+  resetPartnersInputSpec,
+  async () => ({ name: '' }),
+  async ({ input, effects }) => {
+    try {
+      const result = await runCli(effects, ['reset-partners', '--name', input.name], 'reset-partners-task')
+      if (result.exitCode !== 0) {
+        return errorResult(result.stderr?.toString() || 'Failed to clear partners')
+      }
+      return {
+        version: '1' as const,
+        title: 'Partners Cleared',
+        message: result.stdout?.toString() || `Cleared partners from ${input.name}.`,
+        result: null,
+      }
+    } catch (e: any) {
+      return errorResult(`Failed to clear partners: ${e.message || e}`)
+    }
+  },
+)
+
+// ============================================
+// Action: Enable Investor Logins
+// ============================================
+const enableInvestorLoginsAction = Action.withoutInput(
+  'enable-investor-logins',
+  {
+    name: 'Enable Investor Logins',
+    description:
+      'Give every investor account that has no login yet the default password (Ten31Portal) and enable sign-in. Accounts that can already sign in are not touched; investors change their own password in the portal.',
+    warning: 'Every converted account gets the same well-known default password until the investor changes it.',
+    allowedStatuses: 'only-running',
+    group: null,
+    visibility: 'enabled',
+  },
+  async ({ effects }) => {
+    try {
+      const result = await runCli(effects, ['enable-investor-logins'], 'enable-investor-logins-task')
+      if (result.exitCode !== 0) {
+        return errorResult(result.stderr?.toString() || 'Failed to enable investor logins')
+      }
+      return {
+        version: '1' as const,
+        title: 'Investor Logins Enabled',
+        message: 'Send each investor their username; they sign in with the default password and change it.',
+        result: {
+          type: 'single' as const,
+          value: result.stdout?.toString() || 'Nothing to do.',
+          copyable: true,
+          qr: false,
+          masked: false,
+        },
+      }
+    } catch (e: any) {
+      return errorResult(`Failed to enable investor logins: ${e.message || e}`)
+    }
+  },
+)
+
 export const actions = sdk.Actions.of()
   .addAction(createUserAction)
   .addAction(resetPasswordAction)
   .addAction(showAdminPasswordAction)
   .addAction(listUsersAction)
+  .addAction(enableInvestorLoginsAction)
   .addAction(deleteUserAction)
   .addAction(dedupeAction)
   .addAction(listFundsAction)
   .addAction(resetHoldingsAction)
+  .addAction(resetPartnersAction)
diff --git a/deploy/startos/install/versions/index.ts b/deploy/startos/install/versions/index.ts
index ea7f38f..0ad6a8b 100644
--- a/deploy/startos/install/versions/index.ts
+++ b/deploy/startos/install/versions/index.ts
@@ -1,4 +1,4 @@
-export { v_0_2_26 as current } from './v_0_2_26'
+export { v_0_2_32 as current } from './v_0_2_32'
 import { v_0_1_0 } from './v_0_1_0'
 import { v_0_2_0 } from './v_0_2_0'
 import { v_0_2_1 } from './v_0_2_1'
@@ -25,4 +25,10 @@ import { v_0_2_22 } from './v_0_2_22'
 import { v_0_2_23 } from './v_0_2_23'
 import { v_0_2_24 } from './v_0_2_24'
 import { v_0_2_25 } from './v_0_2_25'
-export const other = [v_0_1_0, v_0_2_0, v_0_2_1, v_0_2_3, v_0_2_4, v_0_2_5, v_0_2_6, v_0_2_7, v_0_2_8, v_0_2_9, v_0_2_10, v_0_2_11, v_0_2_12, v_0_2_13, v_0_2_14, v_0_2_15, v_0_2_16, v_0_2_17, v_0_2_18, v_0_2_19, v_0_2_20, v_0_2_21, v_0_2_22, v_0_2_23, v_0_2_24, v_0_2_25]
+import { v_0_2_26 } from './v_0_2_26'
+import { v_0_2_27 } from './v_0_2_27'
+import { v_0_2_28 } from './v_0_2_28'
+import { v_0_2_29 } from './v_0_2_29'
+import { v_0_2_30 } from './v_0_2_30'
+import { v_0_2_31 } from './v_0_2_31'
+export const other = [v_0_1_0, v_0_2_0, v_0_2_1, v_0_2_3, v_0_2_4, v_0_2_5, v_0_2_6, v_0_2_7, v_0_2_8, v_0_2_9, v_0_2_10, v_0_2_11, v_0_2_12, v_0_2_13, v_0_2_14, v_0_2_15, v_0_2_16, v_0_2_17, v_0_2_18, v_0_2_19, v_0_2_20, v_0_2_21, v_0_2_22, v_0_2_23, v_0_2_24, v_0_2_25, v_0_2_26, v_0_2_27, v_0_2_28, v_0_2_29, v_0_2_30, v_0_2_31]
diff --git a/deploy/startos/install/versions/v_0_2_27.ts b/deploy/startos/install/versions/v_0_2_27.ts
new file mode 100644
index 0000000..a36b44c
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_27.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_27 = VersionInfo.of({
+  version: '0.2.27:0',
+  releaseNotes: {
+    en_US:
+      'Entity overview now shows a full Valuation history — every quarter on record with its NAV, status, and signed date — instead of just the latest quarter. Investor portal now shows, per fund/SPV, gain/loss (amount and % vs paid-in) on the capital account and the % of commitment distributed.',
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/deploy/startos/install/versions/v_0_2_28.ts b/deploy/startos/install/versions/v_0_2_28.ts
new file mode 100644
index 0000000..b370450
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_28.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_28 = VersionInfo.of({
+  version: '0.2.28:0',
+  releaseNotes: {
+    en_US:
+      "Investor gain/loss now measures total value (current NAV + distributions received) against paid-in capital, so an LP who has taken distributions no longer shows a false loss.",
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/deploy/startos/install/versions/v_0_2_29.ts b/deploy/startos/install/versions/v_0_2_29.ts
new file mode 100644
index 0000000..be93273
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_29.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_29 = VersionInfo.of({
+  version: '0.2.29:0',
+  releaseNotes: {
+    en_US:
+      "New 'Reset Fund Partners' service action (and a 'Clear all partners' button on a fund's Partners tab) removes all of a fund's capital-account statements and investor access grants — for undoing a wrong members import, e.g. one fund's roster loaded into another. Investor accounts and holdings/NAV are left intact. Reset Fund Holdings still only clears holdings; this covers the partner side.",
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/deploy/startos/install/versions/v_0_2_30.ts b/deploy/startos/install/versions/v_0_2_30.ts
new file mode 100644
index 0000000..1b4aceb
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_30.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_30 = VersionInfo.of({
+  version: '0.2.30:0',
+  releaseNotes: {
+    en_US:
+      "Investor portal: the capital block now reads 'Current Capital Balance' and shows only the percentage gain (green) or loss (red) beneath it — the redundant dollar 'gain/loss vs paid-in' line was removed.",
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/deploy/startos/install/versions/v_0_2_31.ts b/deploy/startos/install/versions/v_0_2_31.ts
new file mode 100644
index 0000000..31b4886
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_31.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_31 = VersionInfo.of({
+  version: '0.2.31:0',
+  releaseNotes: {
+    en_US:
+      "Entities view: the 'GP Entities and Management Companies' section is now 'Management Entities' and gains a new 'Carry Vehicle' entity type (with both Partners and Assets tabs) for carry vehicles like Ten31 EP LLC. Investor capital chart: the Distributions line only appears once distributions have actually been made.",
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/deploy/startos/install/versions/v_0_2_32.ts b/deploy/startos/install/versions/v_0_2_32.ts
new file mode 100644
index 0000000..dca3467
--- /dev/null
+++ b/deploy/startos/install/versions/v_0_2_32.ts
@@ -0,0 +1,13 @@
+import { VersionInfo } from '@start9labs/start-sdk'
+
+export const v_0_2_32 = VersionInfo.of({
+  version: '0.2.32:0',
+  releaseNotes: {
+    en_US:
+      "Investor portal polish: a portfolio summary card totals commitment, paid-in, distributions and current balance across funds; gain/loss is labeled 'net of paid-in'; headline figures show whole dollars; documents group by year with a 'New' badge since the investor's last visit. Ten31 brand palette (navy/mint from the logo) replaces the orange accents. New members from the eNAV import now start with the default password 'Ten31Portal' (login enabled), and a new 'Enable Investor Logins' action converts existing no-login accounts. Password changes now require at least 8 characters. Login page shows a Portal@ten31.xyz contact line.",
+  },
+  migrations: {
+    up: async ({ effects }) => {},
+    down: async ({ effects }) => {},
+  },
+})
diff --git a/frontend/index.html b/frontend/index.html
index afaf458..f4a4404 100644
--- a/frontend/index.html
+++ b/frontend/index.html
@@ -6,7 +6,7 @@
     <link rel="apple-touch-icon" href="/icon-192.png" />
     <link rel="manifest" href="/manifest.webmanifest" />
     <meta name="viewport" content="width=device-width, initial-scale=1.0" />
-    <meta name="theme-color" content="#16243A" />
+    <meta name="theme-color" content="#0C1F33" />
     <meta name="mobile-web-app-capable" content="yes" />
     <meta name="apple-mobile-web-app-capable" content="yes" />
     <meta name="apple-mobile-web-app-status-bar-style" content="default" />
diff --git a/frontend/public/manifest.webmanifest b/frontend/public/manifest.webmanifest
index c489c3d..ce5b12c 100644
--- a/frontend/public/manifest.webmanifest
+++ b/frontend/public/manifest.webmanifest
@@ -6,8 +6,8 @@
   "scope": "/",
   "display": "standalone",
   "orientation": "portrait-primary",
-  "background_color": "#16243A",
-  "theme_color": "#16243A",
+  "background_color": "#0C1F33",
+  "theme_color": "#0C1F33",
   "icons": [
     { "src": "/icon-192.png", "sizes": "192x192", "type": "image/png", "purpose": "any" },
     { "src": "/icon-512.png", "sizes": "512x512", "type": "image/png", "purpose": "any" },
diff --git a/frontend/public/sw.js b/frontend/public/sw.js
index 81e9bc0..9310366 100644
--- a/frontend/public/sw.js
+++ b/frontend/public/sw.js
@@ -3,7 +3,7 @@
 // - content-hashed /assets/* are cache-first (immutable, safe forever)
 // - /api/* is never cached
 // Bump CACHE on each release so old entries are purged.
-const CACHE = 'ten31-portal-0.2.26'
+const CACHE = 'ten31-portal-0.2.32'
 
 self.addEventListener('install', () => self.skipWaiting())
 
diff --git a/frontend/src/App.tsx b/frontend/src/App.tsx
index 39a8034..f9bb810 100644
--- a/frontend/src/App.tsx
+++ b/frontend/src/App.tsx
@@ -62,7 +62,7 @@ function OfflineNotice({ onRetry }: { onRetry: () => void }) {
       </p>
       <button
         onClick={onRetry}
-        className="px-4 py-2 bg-gray-900 text-white text-sm rounded hover:bg-gray-800"
+        className="px-4 py-2 bg-brand-900 text-white text-sm rounded hover:bg-brand-800"
       >
         Retry
       </button>
diff --git a/frontend/src/api.ts b/frontend/src/api.ts
index 5d2913e..6c48849 100644
--- a/frontend/src/api.ts
+++ b/frontend/src/api.ts
@@ -12,7 +12,7 @@ export type UserRole =
   | "viewer"
   | "investor"
   | "fund_administrator";
-export type EntityType = "fund" | "spv" | "gp" | "mgmt_co";
+export type EntityType = "fund" | "spv" | "gp" | "mgmt_co" | "carry";
 export type EntityStatus = "active" | "closed";
 export type RoundStatus = "draft" | "submitted" | "approved" | "returned";
 export type DocumentCategory =
@@ -70,6 +70,7 @@ export interface PortalDocument {
   size_bytes: number;
   uploaded_by: number | null;
   created_at: string;
+  is_new?: boolean;
 }
 
 export interface Partner {
@@ -307,6 +308,11 @@ export const api = {
     }[]>("/api/entities/rollup"),
   getEntity: (id: number) => request<Entity>(`/api/entities/${id}`),
   listPartners: (entityId: number) => request<Partner[]>(`/api/entities/${entityId}/partners`),
+  clearPartners: (entityId: number) =>
+    request<{ statements: number; access_grants: number }>(
+      `/api/entities/${entityId}/partners`,
+      { method: "DELETE" },
+    ),
   createEntity: (data: Partial<Entity>) =>
     request<Entity>("/api/entities", { method: "POST", body: JSON.stringify(data) }),
   updateEntity: (id: number, data: Partial<Entity>) =>
diff --git a/frontend/src/components/CapitalChart.tsx b/frontend/src/components/CapitalChart.tsx
index 7579b2f..8f3099e 100644
--- a/frontend/src/components/CapitalChart.tsx
+++ b/frontend/src/components/CapitalChart.tsx
@@ -23,6 +23,11 @@ export default function CapitalChart({ points }: { points: CapitalPoint[] }) {
 
   if (data.length < 2) return null;
 
+  // Only plot the Distributions series once the LP has actually received a distribution;
+  // otherwise it's a flat line pinned at zero that just clutters the chart.
+  const hasDistributions = data.some((d) => d.distributions > 0);
+  const series = hasDistributions ? SERIES : SERIES.filter((s) => s.key !== "distributions");
+
   const W = 640;
   const H = 240;
   const padL = 64;
@@ -51,7 +56,7 @@ export default function CapitalChart({ points }: { points: CapitalPoint[] }) {
           </g>
         ))}
 
-        {SERIES.map((s) => (
+        {series.map((s) => (
           <polyline
             key={s.key}
             fill="none"
@@ -61,7 +66,7 @@ export default function CapitalChart({ points }: { points: CapitalPoint[] }) {
           />
         ))}
 
-        {SERIES.map((s) =>
+        {series.map((s) =>
           data.map((d, i) => (
             <circle key={`${s.key}-${i}`} cx={x(i)} cy={y(d[s.key])} r={2.5} fill={s.color}>
               <title>{`${formatQuarter(d.date)} · ${s.label}: ${formatMoney(d[s.key])}`}</title>
@@ -77,7 +82,7 @@ export default function CapitalChart({ points }: { points: CapitalPoint[] }) {
       </svg>
 
       <div className="flex flex-wrap gap-4 mt-2 pl-2">
-        {SERIES.map((s) => (
+        {series.map((s) => (
           <span key={s.key} className="flex items-center gap-1.5 text-xs text-gray-500">
             <span className="inline-block w-3 h-0.5" style={{ backgroundColor: s.color }} />
             {s.label}
diff --git a/frontend/src/components/ChangePasswordModal.tsx b/frontend/src/components/ChangePasswordModal.tsx
index 7ce3e0e..d6f94a3 100644
--- a/frontend/src/components/ChangePasswordModal.tsx
+++ b/frontend/src/components/ChangePasswordModal.tsx
@@ -13,7 +13,7 @@ export default function ChangePasswordModal({ onClose }: { onClose: () => void }
 
   const save = async () => {
     setError("");
-    if (next.length < 4) return setError("New password must be at least 4 characters.");
+    if (next.length < 8) return setError("New password must be at least 8 characters.");
     if (next !== confirm) return setError("New passwords don't match.");
     setBusy(true);
     try {
@@ -34,7 +34,7 @@ export default function ChangePasswordModal({ onClose }: { onClose: () => void }
           <div className="space-y-4">
             <p className="text-sm text-green-700">Your password has been updated.</p>
             <div className="flex justify-end">
-              <button onClick={onClose} className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800">
+              <button onClick={onClose} className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800">
                 Done
               </button>
             </div>
@@ -47,7 +47,7 @@ export default function ChangePasswordModal({ onClose }: { onClose: () => void }
             </div>
             <div>
               <label className="block text-sm text-gray-700 mb-1">New password</label>
-              <PasswordInput value={next} onChange={setNext} placeholder="minimum 4 characters" />
+              <PasswordInput value={next} onChange={setNext} placeholder="minimum 8 characters" />
             </div>
             <div>
               <label className="block text-sm text-gray-700 mb-1">Confirm new password</label>
@@ -61,7 +61,7 @@ export default function ChangePasswordModal({ onClose }: { onClose: () => void }
               <button
                 onClick={save}
                 disabled={busy || !current || !next}
-                className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+                className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
               >
                 {busy ? "Saving…" : "Update password"}
               </button>
diff --git a/frontend/src/components/EntityHeader.tsx b/frontend/src/components/EntityHeader.tsx
index 1342ef9..23a78da 100644
--- a/frontend/src/components/EntityHeader.tsx
+++ b/frontend/src/components/EntityHeader.tsx
@@ -6,6 +6,7 @@ const TYPE_LABELS: Record<string, string> = {
   spv: "SPV",
   gp: "GP",
   mgmt_co: "Mgmt Co",
+  carry: "Carry Vehicle",
 };
 
 const TABS: { key: string; label: string; path: (id: number) => string }[] = [
@@ -15,8 +16,8 @@ const TABS: { key: string; label: string; path: (id: number) => string }[] = [
   { key: "documents", label: "Documents", path: (id) => `/entities/${id}/documents` },
 ];
 
-// GP entities and management companies hold interests in the funds they manage; that's their
-// "Assets" tab. Funds/SPVs use the Investments tab instead.
+// GP entities, management companies, and carry vehicles hold interests in the funds they manage;
+// that's their "Assets" tab. Funds/SPVs use the Investments tab instead.
 const ASSETS_TAB = {
   key: "assets",
   label: "Assets",
@@ -25,7 +26,9 @@ const ASSETS_TAB = {
 
 export default function EntityHeader({ entity, active }: { entity: Entity; active: string }) {
   const tabs =
-    entity.type === "gp" || entity.type === "mgmt_co" ? [...TABS, ASSETS_TAB] : TABS;
+    entity.type === "gp" || entity.type === "mgmt_co" || entity.type === "carry"
+      ? [...TABS, ASSETS_TAB]
+      : TABS;
   return (
     <div className="mb-6">
       <div className="flex items-center gap-3 mb-1">
@@ -39,7 +42,7 @@ export default function EntityHeader({ entity, active }: { entity: Entity; activ
           active === t.key ? (
             <span
               key={t.key}
-              className="pb-2 border-b-2 border-orange-500 text-sm font-medium text-orange-600"
+              className="pb-2 border-b-2 border-accent-500 text-sm font-medium text-accent-600"
             >
               {t.label}
             </span>
diff --git a/frontend/src/components/Layout.tsx b/frontend/src/components/Layout.tsx
index 90658e4..2340ca3 100644
--- a/frontend/src/components/Layout.tsx
+++ b/frontend/src/components/Layout.tsx
@@ -66,7 +66,7 @@ export default function Layout({ children }: { children: React.ReactNode }) {
                   onClick={() => setNavOpen(false)}
                   className={`block px-4 py-2 text-sm ${
                     active
-                      ? "bg-orange-50 text-orange-600 border-r-2 border-orange-500 font-medium"
+                      ? "bg-accent-50 text-accent-600 border-r-2 border-accent-500 font-medium"
                       : "text-gray-700 hover:bg-gray-50"
                   }`}
                 >
diff --git a/frontend/src/components/PasswordInput.tsx b/frontend/src/components/PasswordInput.tsx
index bffd27a..624b902 100644
--- a/frontend/src/components/PasswordInput.tsx
+++ b/frontend/src/components/PasswordInput.tsx
@@ -16,7 +16,7 @@ export default function PasswordInput({
 }) {
   const [show, setShow] = useState(false);
   const base =
-    "w-full px-3 py-2 pr-10 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent";
+    "w-full px-3 py-2 pr-10 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent";
   return (
     <div className="relative">
       <input
diff --git a/frontend/src/format.ts b/frontend/src/format.ts
index 5113fb2..5db123a 100644
--- a/frontend/src/format.ts
+++ b/frontend/src/format.ts
@@ -29,6 +29,12 @@ export function formatMoneyExact(cents: number | null | undefined): string {
   return `$${dollars.toLocaleString("en-US", { minimumFractionDigits: 2, maximumFractionDigits: 2 })}`;
 }
 
+/** Format cents as whole dollars for headline figures — the ".00" is noise at that size. */
+export function formatMoneyWhole(cents: number | null | undefined): string {
+  if (cents == null) return "—";
+  return `$${Math.round(cents / 100).toLocaleString("en-US")}`;
+}
+
 /** Format date string to short form: Jun 15, 2021 */
 export function formatDate(dateStr: string | null | undefined): string {
   if (!dateStr) return "—";
diff --git a/frontend/src/index.css b/frontend/src/index.css
index f1d8c73..470023d 100644
--- a/frontend/src/index.css
+++ b/frontend/src/index.css
@@ -1 +1,22 @@
 @import "tailwindcss";
+
+/*
+ * Ten31 brand palette, sampled from the logo (frontend/public/ten31-logo.png):
+ *   navy #0C1F33 (tile) · cream #F4EFE3 (frame/serifs) · mint #79CDB6 (arrow).
+ * brand-* = the navy, used for primary buttons and the portfolio card.
+ * accent-* = the arrow's green, darkened for readable links/focus on white.
+ */
+@theme {
+  --color-brand-300: #8ea4b8; /* muted text on navy */
+  --color-brand-800: #16324f; /* button hover */
+  --color-brand-900: #0c1f33; /* logo navy */
+
+  --color-cream: #f4efe3;
+
+  --color-accent-50: #edf7f3; /* active-nav tint */
+  --color-accent-100: #d9efe6;
+  --color-accent-300: #79cdb6; /* the arrow itself — on dark only */
+  --color-accent-500: #2fa184; /* focus rings, sort arrows */
+  --color-accent-600: #0e7a5f; /* links */
+  --color-accent-700: #0b6249; /* link hover */
+}
diff --git a/frontend/src/pages/AccessGrid.tsx b/frontend/src/pages/AccessGrid.tsx
index f6bdca1..c134e14 100644
--- a/frontend/src/pages/AccessGrid.tsx
+++ b/frontend/src/pages/AccessGrid.tsx
@@ -115,7 +115,7 @@ export default function AccessGrid() {
                           disabled={loading}
                           className={`w-full h-10 flex items-center justify-center transition-colors ${
                             on
-                              ? "bg-orange-50 text-orange-600 hover:bg-orange-100"
+                              ? "bg-accent-50 text-accent-600 hover:bg-accent-100"
                               : "text-gray-300 hover:bg-gray-100"
                           } ${loading ? "opacity-50" : ""}`}
                           title={on ? "Click to revoke" : "Click to grant"}
diff --git a/frontend/src/pages/CapitalAccounts.tsx b/frontend/src/pages/CapitalAccounts.tsx
index 80d791f..e546c47 100644
--- a/frontend/src/pages/CapitalAccounts.tsx
+++ b/frontend/src/pages/CapitalAccounts.tsx
@@ -186,7 +186,7 @@ function EntryForm({
         <button
           onClick={submit}
           disabled={busy || entityId === "" || investorId === "" || !asOf}
-          className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+          className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
         >
           {busy ? "Saving…" : "Save statement"}
         </button>
@@ -219,4 +219,4 @@ function DollarField({
 }
 
 const inputCls =
-  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent";
+  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent";
diff --git a/frontend/src/pages/Documents.tsx b/frontend/src/pages/Documents.tsx
index a8026df..55f384f 100644
--- a/frontend/src/pages/Documents.tsx
+++ b/frontend/src/pages/Documents.tsx
@@ -87,7 +87,7 @@ export default function Documents() {
                 <td className="px-4 py-2 text-right whitespace-nowrap">
                   <a
                     href={api.downloadUrl(d.id)}
-                    className="text-orange-600 hover:text-orange-700 mr-3"
+                    className="text-accent-600 hover:text-accent-700 mr-3"
                   >
                     Download
                   </a>
@@ -242,7 +242,7 @@ function UploadForm({
         {targetLabel ? (
           <p className="text-xs text-gray-500">
             Uploading to <span className="font-medium text-gray-700">{entityName}</span> ·{" "}
-            <span className={investorId === "" ? "text-gray-700" : "text-orange-600 font-medium"}>
+            <span className={investorId === "" ? "text-gray-700" : "text-accent-600 font-medium"}>
               {targetLabel}
             </span>
           </p>
@@ -252,7 +252,7 @@ function UploadForm({
         <button
           onClick={submit}
           disabled={busy || entityId === "" || !file}
-          className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+          className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
         >
           {busy ? "Uploading…" : "Upload"}
         </button>
@@ -262,4 +262,4 @@ function UploadForm({
 }
 
 const inputCls =
-  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent";
+  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent";
diff --git a/frontend/src/pages/EntitiesList.tsx b/frontend/src/pages/EntitiesList.tsx
index c06bb83..65cd3af 100644
--- a/frontend/src/pages/EntitiesList.tsx
+++ b/frontend/src/pages/EntitiesList.tsx
@@ -21,6 +21,7 @@ const TYPE_LABELS: Record<string, string> = {
   spv: "SPV",
   gp: "GP",
   mgmt_co: "Mgmt Co",
+  carry: "Carry Vehicle",
 };
 
 export default function EntitiesList() {
@@ -62,7 +63,9 @@ export default function EntitiesList() {
   }
 
   const funds = entities.filter((e) => e.type === "fund" || e.type === "spv");
-  const gps = entities.filter((e) => e.type === "gp" || e.type === "mgmt_co");
+  const gps = entities.filter(
+    (e) => e.type === "gp" || e.type === "mgmt_co" || e.type === "carry",
+  );
 
   return (
     <div className="space-y-8">
@@ -71,7 +74,7 @@ export default function EntitiesList() {
         {isWriter && (
           <button
             onClick={() => setShowForm(true)}
-            className="px-4 py-2 bg-gray-900 text-white text-sm rounded hover:bg-gray-800"
+            className="px-4 py-2 bg-brand-900 text-white text-sm rounded hover:bg-brand-800"
           >
             Add Entity
           </button>
@@ -89,7 +92,7 @@ export default function EntitiesList() {
       )}
 
       <EntityTable title="Funds and SPVs" rows={funds} />
-      <EntityTable title="GP Entities and Management Companies" rows={gps} />
+      <EntityTable title="Management Entities" rows={gps} />
     </div>
   );
 }
@@ -155,7 +158,7 @@ function AddEntityForm({
             type="text"
             value={name}
             onChange={(e) => setName(e.target.value)}
-            className="w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent"
+            className="w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent"
             placeholder="Low Time Preference Fund I, LLC"
             required
           />
@@ -171,6 +174,7 @@ function AddEntityForm({
             <option value="spv">SPV</option>
             <option value="gp">GP</option>
             <option value="mgmt_co">Mgmt Co</option>
+            <option value="carry">Carry Vehicle</option>
           </select>
         </div>
         <div className="flex gap-3">
@@ -202,7 +206,7 @@ function AddEntityForm({
           <button
             type="submit"
             disabled={saving}
-            className="px-4 py-2 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+            className="px-4 py-2 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
           >
             {saving ? "Creating..." : "Create"}
           </button>
@@ -261,7 +265,7 @@ function EntityTable({ title, rows }: { title: string; rows: EntityRow[] }) {
     return (
       <th className={`px-4 py-3 font-medium text-gray-600 select-none ${a}`}>
         <button onClick={() => sortBy(k)} className={`w-full hover:text-gray-900 ${a}`}>
-          {label}<span className="text-orange-500">{arrow(k)}</span>
+          {label}<span className="text-accent-500">{arrow(k)}</span>
         </button>
       </th>
     );
@@ -345,7 +349,7 @@ function EntityTable({ title, rows }: { title: string; rows: EntityRow[] }) {
                   <td className="px-4 py-3">
                     <Link
                       to={`/entities/${row.id}`}
-                      className="text-gray-900 font-medium hover:text-orange-600"
+                      className="text-gray-900 font-medium hover:text-accent-600"
                     >
                       {row.name}
                     </Link>
diff --git a/frontend/src/pages/EntityAssets.tsx b/frontend/src/pages/EntityAssets.tsx
index e2a3e6c..895056a 100644
--- a/frontend/src/pages/EntityAssets.tsx
+++ b/frontend/src/pages/EntityAssets.tsx
@@ -77,7 +77,7 @@ export default function EntityAssets() {
           <p>This entity isn't linked to an investor account yet, so there are no balances to show.</p>
           <p className="mt-2 text-gray-500">
             Link it on the{" "}
-            <Link to={`/entities/${entityId}`} className="text-orange-600 hover:text-orange-700">
+            <Link to={`/entities/${entityId}`} className="text-accent-600 hover:text-accent-700">
               Overview tab → Edit entity
             </Link>{" "}
             (choose its investor account). Its capital-account balance in each fund will then
@@ -110,7 +110,7 @@ export default function EntityAssets() {
               {rows.map((r) => (
                 <tr key={r.fundId} className="border-t border-gray-100">
                   <td className="px-4 py-2 text-gray-900">
-                    <Link to={`/entities/${r.fundId}`} className="hover:text-orange-600">
+                    <Link to={`/entities/${r.fundId}`} className="hover:text-accent-600">
                       {fundName(r.fundId)}
                     </Link>
                   </td>
diff --git a/frontend/src/pages/EntityDocuments.tsx b/frontend/src/pages/EntityDocuments.tsx
index 184c8fb..a50f048 100644
--- a/frontend/src/pages/EntityDocuments.tsx
+++ b/frontend/src/pages/EntityDocuments.tsx
@@ -61,7 +61,7 @@ export default function EntityDocuments() {
                 </td>
                 <td className="px-4 py-2 text-gray-500">{formatDate(d.created_at)}</td>
                 <td className="px-4 py-2 text-right whitespace-nowrap">
-                  <a href={api.downloadUrl(d.id)} className="text-orange-600 hover:text-orange-700 mr-3">
+                  <a href={api.downloadUrl(d.id)} className="text-accent-600 hover:text-accent-700 mr-3">
                     Download
                   </a>
                   <button
diff --git a/frontend/src/pages/EntityOverview.tsx b/frontend/src/pages/EntityOverview.tsx
index 4586324..e86030e 100644
--- a/frontend/src/pages/EntityOverview.tsx
+++ b/frontend/src/pages/EntityOverview.tsx
@@ -20,6 +20,7 @@ export default function EntityOverview() {
   const [totalInvested, setTotalInvested] = useState(0);
   const [lastValue, setLastValue] = useState(0);
   const [latestRound, setLatestRound] = useState<ValuationRound | null>(null);
+  const [rounds, setRounds] = useState<ValuationRound[]>([]);
   const [assetBalances, setAssetBalances] = useState<AssetBalances | null>(null);
   const [loading, setLoading] = useState(true);
   const [editing, setEditing] = useState(false);
@@ -49,7 +50,10 @@ export default function EntityOverview() {
       const ent = await api.getEntity(entityId);
       setEntity(ent);
 
-      if ((ent.type === "gp" || ent.type === "mgmt_co") && ent.linked_user_id != null) {
+      if (
+        (ent.type === "gp" || ent.type === "mgmt_co" || ent.type === "carry") &&
+        ent.linked_user_id != null
+      ) {
         api.entityAssetBalances(entityId).then(setAssetBalances).catch(() => {});
       }
 
@@ -66,6 +70,9 @@ export default function EntityOverview() {
       setTotalInvested(invested);
 
       const rounds = await api.listRounds(entityId);
+      // Newest quarter first, so the history table reads top-down like a statement run.
+      const sorted = [...rounds].sort((a, b) => b.quarter_end.localeCompare(a.quarter_end));
+      setRounds(sorted);
       const approved = rounds.filter((r) => r.status === "approved");
       if (approved.length > 0) {
         setLatestRound(approved[0]);
@@ -141,7 +148,7 @@ export default function EntityOverview() {
                 {assetBalances.linked_name ? ` · ${assetBalances.linked_name}` : ""}
               </div>
             </div>
-            <Link to={`/entities/${entity.id}/assets`} className="text-sm text-orange-600 hover:text-orange-700">
+            <Link to={`/entities/${entity.id}/assets`} className="text-sm text-accent-600 hover:text-accent-700">
               View by fund →
             </Link>
           </div>
@@ -165,6 +172,47 @@ export default function EntityOverview() {
           </div>
         </div>
       )}
+
+      {/* Valuation history — every quarter uploaded/signed for this entity */}
+      {rounds.length > 0 && (
+        <div className="bg-white border border-gray-200 rounded-lg overflow-x-auto mt-6">
+          <div className="px-4 py-3 border-b border-gray-100">
+            <h3 className="text-sm font-medium text-gray-700">Valuation history</h3>
+            <p className="text-xs text-gray-400 mt-0.5">
+              {rounds.length} quarter{rounds.length === 1 ? "" : "s"} on record
+            </p>
+          </div>
+          <table className="w-full text-sm">
+            <thead className="bg-gray-50 text-gray-500 text-left">
+              <tr>
+                <th className="px-4 py-2 font-medium">Quarter</th>
+                <th className="px-4 py-2 font-medium text-right">NAV</th>
+                <th className="px-4 py-2 font-medium">Status</th>
+                <th className="px-4 py-2 font-medium">Signed</th>
+              </tr>
+            </thead>
+            <tbody>
+              {rounds.map((r) => {
+                const nav = r.valuations.reduce((s, v) => s + v.value_cents, 0);
+                return (
+                  <tr key={r.id} className="border-t border-gray-100">
+                    <td className="px-4 py-2 text-gray-900">{formatQuarter(r.quarter_end)}</td>
+                    <td className="px-4 py-2 text-right text-gray-900 font-medium">{formatMoney(nav)}</td>
+                    <td className="px-4 py-2">
+                      <span className={`inline-block px-2 py-0.5 text-xs rounded ${STATUS_COLORS[r.status]}`}>
+                        {r.status}
+                      </span>
+                    </td>
+                    <td className="px-4 py-2 text-gray-500">
+                      {r.status === "approved" && r.approved_at ? formatDate(r.approved_at) : "—"}
+                    </td>
+                  </tr>
+                );
+              })}
+            </tbody>
+          </table>
+        </div>
+      )}
     </div>
   );
 }
@@ -191,9 +239,9 @@ function EditEntityForm({
   const [saving, setSaving] = useState(false);
   const inputCls = "w-full px-3 py-2 border border-gray-300 rounded text-sm";
 
-  // A GP / management company can be linked to its own investor account, so its Assets view
-  // shows its real per-fund balances.
-  const isGp = type === "gp" || type === "mgmt_co";
+  // A GP / management company / carry vehicle can be linked to its own investor account, so its
+  // Assets view shows its real per-fund balances.
+  const isGp = type === "gp" || type === "mgmt_co" || type === "carry";
   useEffect(() => {
     if (!isGp) return;
     api.listUsers().then((us) => setInvestors(us.filter((u) => u.role === "investor"))).catch(() => {});
@@ -243,6 +291,7 @@ function EditEntityForm({
               <option value="spv">SPV</option>
               <option value="gp">GP</option>
               <option value="mgmt_co">Mgmt Co</option>
+              <option value="carry">Carry Vehicle</option>
             </select>
           </div>
           <div className="flex-1">
@@ -282,7 +331,7 @@ function EditEntityForm({
         )}
         {error && <p className="text-sm text-red-600">{error}</p>}
         <div className="flex gap-2 pt-1">
-          <button type="submit" disabled={saving} className="px-4 py-2 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50">
+          <button type="submit" disabled={saving} className="px-4 py-2 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50">
             {saving ? "Saving…" : "Save"}
           </button>
           <button type="button" onClick={onClose} className="px-4 py-2 border border-gray-300 text-sm rounded hover:bg-gray-50">
diff --git a/frontend/src/pages/EntityPartners.tsx b/frontend/src/pages/EntityPartners.tsx
index 84895c0..3da6068 100644
--- a/frontend/src/pages/EntityPartners.tsx
+++ b/frontend/src/pages/EntityPartners.tsx
@@ -1,16 +1,22 @@
 import { useEffect, useState } from "react";
 import { useParams } from "react-router-dom";
-import { api, type Entity, type Partner } from "../api";
+import { api, canEditRound, type Entity, type Partner } from "../api";
+import { useAuth } from "../context/AuthContext";
 import { formatDate, formatMoneyExact } from "../format";
 import EntityHeader from "../components/EntityHeader";
 
 export default function EntityPartners() {
   const { id } = useParams<{ id: string }>();
+  const { user } = useAuth();
   const [entity, setEntity] = useState<Entity | null>(null);
   const [partners, setPartners] = useState<Partner[]>([]);
   const [error, setError] = useState("");
+  const [notice, setNotice] = useState("");
+  const [clearing, setClearing] = useState(false);
   const [loading, setLoading] = useState(true);
 
+  const isWriter = !!user && canEditRound(user.role);
+
   useEffect(() => {
     if (!id) return;
     const eid = parseInt(id);
@@ -23,6 +29,34 @@ export default function EntityPartners() {
       .finally(() => setLoading(false));
   }, [id]);
 
+  async function clearAllPartners() {
+    if (!entity) return;
+    if (
+      !confirm(
+        `Remove ALL ${partners.length} partner(s) from ${entity.name}?\n\n` +
+          "This deletes this fund's capital-account statements and the investors' access to " +
+          "it. The investor accounts themselves are kept (they may belong to other funds), " +
+          "and holdings/NAV are not affected. Re-import the correct roster afterward.",
+      )
+    )
+      return;
+    setClearing(true);
+    setError("");
+    setNotice("");
+    try {
+      const res = await api.clearPartners(entity.id);
+      const fresh = await api.listPartners(entity.id);
+      setPartners(fresh);
+      setNotice(
+        `Cleared: removed ${res.statements} capital statement(s) and ${res.access_grants} access grant(s).`,
+      );
+    } catch (err: any) {
+      setError(err.message || "Failed to clear partners");
+    } finally {
+      setClearing(false);
+    }
+  }
+
   if (loading || !entity) return <div className="text-gray-500 text-sm">Loading…</div>;
 
   const totalCommitted = partners.reduce((s, p) => s + (p.latest_commitment_cents || 0), 0);
@@ -33,16 +67,28 @@ export default function EntityPartners() {
       <EntityHeader entity={entity} active="partners" />
 
       {error && <p className="text-sm text-red-600 mb-3">{error}</p>}
+      {notice && <p className="text-sm text-green-600 mb-3">{notice}</p>}
 
       <div className="flex items-center justify-between mb-3">
         <p className="text-sm text-gray-500">
           {partners.length} member{partners.length === 1 ? "" : "s"} with access to this fund.
         </p>
-        <p className="text-sm text-gray-700">
-          Total committed: <span className="font-medium">{formatMoneyExact(totalCommitted)}</span>
-          <span className="mx-2 text-gray-300">·</span>
-          Total capital: <span className="font-medium">{formatMoneyExact(totalCapital)}</span>
-        </p>
+        <div className="flex items-center gap-4">
+          <p className="text-sm text-gray-700">
+            Total committed: <span className="font-medium">{formatMoneyExact(totalCommitted)}</span>
+            <span className="mx-2 text-gray-300">·</span>
+            Total capital: <span className="font-medium">{formatMoneyExact(totalCapital)}</span>
+          </p>
+          {isWriter && partners.length > 0 && (
+            <button
+              onClick={clearAllPartners}
+              disabled={clearing}
+              className="px-3 py-1.5 border border-red-300 text-red-600 text-sm rounded hover:bg-red-50 disabled:opacity-50"
+            >
+              {clearing ? "Clearing…" : "Clear all partners"}
+            </button>
+          )}
+        </div>
       </div>
 
       <div className="bg-white border border-gray-200 rounded-lg overflow-x-auto">
diff --git a/frontend/src/pages/Import.tsx b/frontend/src/pages/Import.tsx
index 8510d72..21b22b9 100644
--- a/frontend/src/pages/Import.tsx
+++ b/frontend/src/pages/Import.tsx
@@ -230,7 +230,7 @@ export default function Import() {
             <li>{result.members} members ({result.created} newly created)</li>
             {result.note && <li className="text-amber-700">{result.note}</li>}
           </ul>
-          <button onClick={() => setResult(null)} className="mt-3 px-3 py-1.5 bg-gray-900 text-white rounded hover:bg-gray-800">
+          <button onClick={() => setResult(null)} className="mt-3 px-3 py-1.5 bg-brand-900 text-white rounded hover:bg-brand-800">
             Import another
           </button>
         </div>
@@ -240,11 +240,11 @@ export default function Import() {
             <label className="block text-sm text-gray-700 mb-2">Fund</label>
             <div className="flex gap-4 mb-2">
               <label className="flex items-center gap-2 text-sm text-gray-700 cursor-pointer">
-                <input type="radio" checked={entityMode === "existing"} onChange={() => { setEntityMode("existing"); reset(); }} className="text-orange-500" />
+                <input type="radio" checked={entityMode === "existing"} onChange={() => { setEntityMode("existing"); reset(); }} className="text-accent-500" />
                 Use existing fund
               </label>
               <label className="flex items-center gap-2 text-sm text-gray-700 cursor-pointer">
-                <input type="radio" checked={entityMode === "from_file"} onChange={() => { setEntityMode("from_file"); reset(); }} className="text-orange-500" />
+                <input type="radio" checked={entityMode === "from_file"} onChange={() => { setEntityMode("from_file"); reset(); }} className="text-accent-500" />
                 Create from file
               </label>
             </div>
@@ -260,6 +260,7 @@ export default function Import() {
                   <option value="spv">SPV</option>
                   <option value="gp">GP</option>
                   <option value="mgmt_co">Mgmt Co</option>
+                  <option value="carry">Carry Vehicle</option>
                 </select>
                 <input className={inputCls} placeholder="Vintage year" value={vintageYear} onChange={(e) => setVintageYear(e.target.value)} />
               </div>
@@ -278,7 +279,7 @@ export default function Import() {
           </div>
 
           <div className="flex justify-end">
-            <button onClick={readEnav} disabled={busy || !file} className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50">
+            <button onClick={readEnav} disabled={busy || !file} className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50">
               {busy ? "Reading…" : "Read eNAV"}
             </button>
           </div>
@@ -373,7 +374,7 @@ export default function Import() {
               {decisions.filter((d) => d.action === "match").length} matched ·{" "}
               {decisions.filter((d) => d.action === "skip").length} skipped
             </span>
-            <button onClick={handleConfirmClick} disabled={busy || !asOf} className="px-4 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50">
+            <button onClick={handleConfirmClick} disabled={busy || !asOf} className="px-4 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50">
               {busy ? (step || "Importing…") : "Confirm import"}
             </button>
           </div>
@@ -491,7 +492,7 @@ function BatchBackfill({ entities }: { entities: Entity[] }) {
           <button
             onClick={run}
             disabled={busy || !entityId || files.length === 0}
-            className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+            className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
           >
             {busy ? "Loading history…" : "Load history"}
           </button>
diff --git a/frontend/src/pages/Login.tsx b/frontend/src/pages/Login.tsx
index f85e8e7..72c36de 100644
--- a/frontend/src/pages/Login.tsx
+++ b/frontend/src/pages/Login.tsx
@@ -37,7 +37,7 @@ export default function Login() {
               autoComplete="username"
               value={handle}
               onChange={(e) => setHandle(e.target.value)}
-              className="w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent"
+              className="w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent"
               required
             />
           </div>
@@ -49,11 +49,17 @@ export default function Login() {
           <button
             type="submit"
             disabled={loading}
-            className="w-full py-2 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+            className="w-full py-2 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
           >
             {loading ? "Signing in..." : "Sign in"}
           </button>
         </form>
+        <p className="mt-5 text-xs text-gray-400 text-center">
+          Trouble signing in?{" "}
+          <a href="mailto:Portal@ten31.xyz" className="text-accent-600 hover:text-accent-700">
+            Contact Portal@ten31.xyz
+          </a>
+        </p>
       </div>
     </div>
   );
diff --git a/frontend/src/pages/Users.tsx b/frontend/src/pages/Users.tsx
index 13a4309..7e471d3 100644
--- a/frontend/src/pages/Users.tsx
+++ b/frontend/src/pages/Users.tsx
@@ -40,7 +40,7 @@ export default function Users() {
         <h2 className="text-xl font-semibold text-gray-900">Users</h2>
         <button
           onClick={() => setCreating(true)}
-          className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800"
+          className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800"
         >
           New user
         </button>
@@ -94,7 +94,7 @@ export default function Users() {
                     onClick={() =>
                       api.getUser(u.id).then(setEditing).catch((e) => setError(e.message))
                     }
-                    className="text-orange-600 hover:text-orange-700"
+                    className="text-accent-600 hover:text-accent-700"
                   >
                     Manage
                   </button>
@@ -254,7 +254,7 @@ function CreateUserModal({
           <button
             onClick={submit}
             disabled={busy || !name || !username || !password}
-            className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+            className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
           >
             Create
           </button>
@@ -387,7 +387,7 @@ function EditUserModal({
           <button
             onClick={save}
             disabled={busy}
-            className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+            className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
           >
             Save
           </button>
@@ -398,7 +398,7 @@ function EditUserModal({
 }
 
 const inputCls =
-  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent";
+  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent";
 
 function Field({ label, children }: { label: string; children: React.ReactNode }) {
   return (
diff --git a/frontend/src/pages/ValuationWorkflow.tsx b/frontend/src/pages/ValuationWorkflow.tsx
index 92c32b6..d0629a5 100644
--- a/frontend/src/pages/ValuationWorkflow.tsx
+++ b/frontend/src/pages/ValuationWorkflow.tsx
@@ -187,7 +187,7 @@ export default function ValuationWorkflow() {
           <Link to={`/entities/${entity.id}/investments`} className="pb-2 text-sm text-gray-500 hover:text-gray-800">
             Investments
           </Link>
-          <span className="pb-2 border-b-2 border-orange-500 text-sm font-medium text-orange-600">
+          <span className="pb-2 border-b-2 border-accent-500 text-sm font-medium text-accent-600">
             Valuation
           </span>
         </div>
@@ -214,7 +214,7 @@ export default function ValuationWorkflow() {
               />
               <button
                 onClick={handleCreateRound}
-                className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800"
+                className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800"
               >
                 Create
               </button>
@@ -228,7 +228,7 @@ export default function ValuationWorkflow() {
                 <button
                   onClick={() => selectRound(r)}
                   className={`w-full text-left px-3 py-2 rounded text-sm ${
-                    selectedRound?.id === r.id ? "bg-orange-50 text-orange-700" : "hover:bg-gray-50 text-gray-700"
+                    selectedRound?.id === r.id ? "bg-accent-50 text-accent-700" : "hover:bg-gray-50 text-gray-700"
                   }`}
                 >
                   <div className="font-medium">{formatQuarter(r.quarter_end)}</div>
@@ -271,7 +271,7 @@ export default function ValuationWorkflow() {
                     </button>
                     <button
                       onClick={handleSubmit}
-                      className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800"
+                      className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800"
                     >
                       Submit for Review
                     </button>
diff --git a/frontend/src/portal/FundAdminHome.tsx b/frontend/src/portal/FundAdminHome.tsx
index b446733..5b65d81 100644
--- a/frontend/src/portal/FundAdminHome.tsx
+++ b/frontend/src/portal/FundAdminHome.tsx
@@ -74,7 +74,7 @@ function EntityDocs({ entity }: { entity: Entity }) {
               <span className="ml-2 text-xs text-gray-400">{categoryLabel(d.category)}</span>
               <span className="ml-2 text-xs text-gray-400">· {investorName(d.investor_user_id)}</span>
               <span className="ml-auto text-xs text-gray-400 mr-3">{formatDate(d.created_at)}</span>
-              <a href={api.downloadUrl(d.id)} className="text-orange-600 hover:text-orange-700">
+              <a href={api.downloadUrl(d.id)} className="text-accent-600 hover:text-accent-700">
                 Download
               </a>
             </li>
@@ -167,7 +167,7 @@ function UploadForm({
         <button
           onClick={submit}
           disabled={busy || !file}
-          className="px-3 py-1.5 bg-gray-900 text-white text-sm rounded hover:bg-gray-800 disabled:opacity-50"
+          className="px-3 py-1.5 bg-brand-900 text-white text-sm rounded hover:bg-brand-800 disabled:opacity-50"
         >
           {busy ? "Uploading…" : "Upload"}
         </button>
@@ -177,4 +177,4 @@ function UploadForm({
 }
 
 const inputCls =
-  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-orange-500 focus:border-transparent";
+  "w-full px-3 py-2 border border-gray-300 rounded text-sm focus:outline-none focus:ring-2 focus:ring-accent-500 focus:border-transparent";
diff --git a/frontend/src/portal/InvestorPortalView.tsx b/frontend/src/portal/InvestorPortalView.tsx
index 886e5a6..8252f4c 100644
--- a/frontend/src/portal/InvestorPortalView.tsx
+++ b/frontend/src/portal/InvestorPortalView.tsx
@@ -1,8 +1,10 @@
 import { useMemo, useState } from "react";
 import { api, type CapitalAccount, type Entity, type PortalDocument } from "../api";
-import { categoryLabel, formatDate, formatMoneyExact } from "../format";
+import { categoryLabel, formatDate, formatMoneyExact, formatMoneyWhole } from "../format";
 import CapitalChart, { type CapitalPoint } from "../components/CapitalChart";
 
+const pct = (p: number) => `${p >= 0 ? "+" : "−"}${Math.abs(p).toFixed(1)}%`;
+
 // The investor-facing portal, rendered purely from data. Used by the investor's own home
 // (InvestorHome) and by the admin read-only Investor View, so both show exactly the same thing.
 export default function InvestorPortalView({
@@ -27,6 +29,7 @@ export default function InvestorPortalView({
 
   return (
     <div className="space-y-8">
+      {entities.length > 1 && <PortfolioSummary accounts={accounts} count={entities.length} />}
       {entities.map((e) => (
         <FundSection
           key={e.id}
@@ -40,6 +43,67 @@ export default function InvestorPortalView({
   );
 }
 
+// One quiet navy card answering the multi-fund LP's first question: the total across Ten31.
+function PortfolioSummary({ accounts, count }: { accounts: CapitalAccount[]; count: number }) {
+  // Latest statement per (fund, legal name); summed across all of them.
+  const totals = useMemo(() => {
+    const latest = new Map<string, CapitalAccount>();
+    for (const a of accounts) {
+      const key = `${a.entity_id}:${a.investor_user_id}`;
+      const cur = latest.get(key);
+      if (!cur || a.as_of_date > cur.as_of_date) latest.set(key, a);
+    }
+    let commitment = 0, paidIn = 0, distributions = 0, balance = 0;
+    for (const a of latest.values()) {
+      commitment += a.commitment_cents;
+      paidIn += a.contributions_cents;
+      distributions += a.distributions_cents;
+      balance += a.ending_balance_cents;
+    }
+    return { commitment, paidIn, distributions, balance };
+  }, [accounts]);
+
+  if (totals.commitment === 0 && totals.balance === 0) return null;
+
+  const gainLossPct =
+    totals.paidIn > 0
+      ? ((totals.balance + totals.distributions - totals.paidIn) / totals.paidIn) * 100
+      : null;
+
+  return (
+    <section className="bg-brand-900 rounded-lg p-5 text-cream">
+      <h2 className="text-xs font-medium uppercase tracking-wide text-brand-300">
+        Across your {count} funds
+      </h2>
+      <div className="grid grid-cols-2 sm:grid-cols-4 gap-4 mt-3">
+        <div>
+          <p className="text-xs text-brand-300 uppercase">Commitment</p>
+          <p className="text-lg font-medium">{formatMoneyWhole(totals.commitment)}</p>
+        </div>
+        <div>
+          <p className="text-xs text-brand-300 uppercase">Paid-in</p>
+          <p className="text-lg font-medium">{formatMoneyWhole(totals.paidIn)}</p>
+        </div>
+        {totals.distributions > 0 && (
+          <div>
+            <p className="text-xs text-brand-300 uppercase">Distributions</p>
+            <p className="text-lg font-medium">{formatMoneyWhole(totals.distributions)}</p>
+          </div>
+        )}
+        <div>
+          <p className="text-xs text-brand-300 uppercase">Current Capital Balance</p>
+          <p className="text-lg font-semibold">{formatMoneyWhole(totals.balance)}</p>
+          {gainLossPct != null && (
+            <p className={`text-xs mt-0.5 ${gainLossPct >= 0 ? "text-accent-300" : "text-red-300"}`}>
+              {pct(gainLossPct)} <span className="text-brand-300">net of paid-in</span>
+            </p>
+          )}
+        </div>
+      </div>
+    </section>
+  );
+}
+
 function FundSection({
   entity,
   accounts,
@@ -81,29 +145,64 @@ function FundSection({
         ))
       )}
 
-      <div className="mt-5">
-        <h3 className="text-xs font-medium text-gray-500 uppercase mb-2">Documents</h3>
-        {docs.length === 0 ? (
-          <p className="text-sm text-gray-400">No documents available.</p>
-        ) : (
-          <ul className="divide-y divide-gray-100 border border-gray-100 rounded">
-            {docs.map((d) => (
-              <li key={d.id} className="flex items-center px-3 py-2 text-sm">
-                <span className="text-gray-900">{d.title}</span>
-                <span className="ml-2 text-xs text-gray-400">{categoryLabel(d.category)}</span>
-                <span className="ml-auto text-xs text-gray-400 mr-3">{formatDate(d.created_at)}</span>
-                <a href={api.downloadUrl(d.id)} className="text-orange-600 hover:text-orange-700">
-                  Download
-                </a>
-              </li>
-            ))}
-          </ul>
-        )}
-      </div>
+      <DocumentList docs={docs} />
     </section>
   );
 }
 
+function DocumentList({ docs }: { docs: PortalDocument[] }) {
+  // A handful of docs stays a flat list; once tax seasons pile up, group them by year.
+  const groups = useMemo(() => {
+    if (docs.length <= 6) return [{ year: null as number | null, docs }];
+    const byYear = new Map<number, PortalDocument[]>();
+    for (const d of docs) {
+      const y = new Date(d.created_at).getFullYear();
+      const g = byYear.get(y) ?? [];
+      g.push(d);
+      byYear.set(y, g);
+    }
+    return [...byYear.entries()]
+      .sort((a, b) => b[0] - a[0])
+      .map(([year, ds]) => ({ year: year as number | null, docs: ds }));
+  }, [docs]);
+
+  return (
+    <div className="mt-5">
+      <h3 className="text-xs font-medium text-gray-500 uppercase mb-2">Documents</h3>
+      {docs.length === 0 ? (
+        <p className="text-sm text-gray-400">No documents available.</p>
+      ) : (
+        <div className="space-y-3">
+          {groups.map((g) => (
+            <div key={g.year ?? "all"}>
+              {g.year != null && (
+                <p className="text-xs font-medium text-gray-400 mb-1">{g.year}</p>
+              )}
+              <ul className="divide-y divide-gray-100 border border-gray-100 rounded">
+                {g.docs.map((d) => (
+                  <li key={d.id} className="flex items-center px-3 py-2 text-sm">
+                    <span className="text-gray-900">{d.title}</span>
+                    {d.is_new && (
+                      <span className="ml-2 text-[10px] font-medium uppercase text-accent-600 bg-accent-50 px-1.5 py-0.5 rounded">
+                        New
+                      </span>
+                    )}
+                    <span className="ml-2 text-xs text-gray-400">{categoryLabel(d.category)}</span>
+                    <span className="ml-auto text-xs text-gray-400 mr-3">{formatDate(d.created_at)}</span>
+                    <a href={api.downloadUrl(d.id)} className="text-accent-600 hover:text-accent-700">
+                      Download
+                    </a>
+                  </li>
+                ))}
+              </ul>
+            </div>
+          ))}
+        </div>
+      )}
+    </div>
+  );
+}
+
 function CapitalBlock({
   accounts,
   label,
@@ -115,6 +214,17 @@ function CapitalBlock({
 }) {
   // accounts arrive newest-first; history is oldest-first for the chart/table.
   const latest = accounts[0];
+  // Simple LP performance: gain/loss = total value (current NAV + distributions received)
+  // vs paid-in — so distributions taken don't read as a loss; and how much of the
+  // commitment has been distributed back.
+  const gainLoss =
+    latest.ending_balance_cents + latest.distributions_cents - latest.contributions_cents;
+  const gainLossPct =
+    latest.contributions_cents > 0 ? (gainLoss / latest.contributions_cents) * 100 : null;
+  const distributedPct =
+    latest.commitment_cents > 0
+      ? (latest.distributions_cents / latest.commitment_cents) * 100
+      : null;
   const history = useMemo(
     () => [...accounts].sort((a, b) => a.as_of_date.localeCompare(b.as_of_date)),
     [accounts],
@@ -133,10 +243,14 @@ function CapitalBlock({
       {label && <p className="text-sm font-medium text-gray-700">{label}</p>}
       <p className="text-sm text-gray-500 mt-1">As of {formatDate(latest.as_of_date)}</p>
       <div className="grid grid-cols-2 sm:grid-cols-4 gap-4 mt-2">
-        <Metric label="Commitment" value={formatMoneyExact(latest.commitment_cents)} />
-        <Metric label="Paid-in" value={formatMoneyExact(latest.contributions_cents)} />
+        <Metric label="Commitment" value={formatMoneyWhole(latest.commitment_cents)} />
+        <Metric label="Paid-in" value={formatMoneyWhole(latest.contributions_cents)} />
         {latest.distributions_cents > 0 && (
-          <Metric label="Distributions" value={formatMoneyExact(latest.distributions_cents)} />
+          <Metric
+            label="Distributions"
+            value={formatMoneyWhole(latest.distributions_cents)}
+            sub={distributedPct != null ? `${distributedPct.toFixed(1)}% of commitment` : undefined}
+          />
         )}
         {latest.distributions_cents > 0 && latest.contributions_cents > 0 && (
           <Metric
@@ -145,10 +259,15 @@ function CapitalBlock({
           />
         )}
       </div>
-      <p className="text-sm text-gray-500 mt-4">Current capital value</p>
+      <p className="text-sm text-gray-500 mt-4">Current Capital Balance</p>
       <p className="text-3xl font-semibold text-gray-900 mt-0.5">
-        {formatMoneyExact(latest.ending_balance_cents)}
+        {formatMoneyWhole(latest.ending_balance_cents)}
       </p>
+      {gainLossPct != null && (
+        <p className={`text-sm mt-1 ${gainLoss >= 0 ? "text-accent-600" : "text-red-600"}`}>
+          {pct(gainLossPct)} <span className="text-gray-400">net of paid-in</span>
+        </p>
+      )}
 
       {history.length > 1 && (
         <div className="mt-5">
@@ -159,9 +278,9 @@ function CapitalBlock({
             className="flex items-center gap-1.5 text-xs font-medium text-gray-500 uppercase hover:text-gray-700"
           >
             <span className={`transition-transform ${showChart ? "rotate-90" : ""}`}>▸</span>
-            Capital over time
+            History
             <span className="normal-case font-normal text-gray-400">
-              ({history.length} quarters{showChart ? "" : " — show"})
+              · {history.length} quarters
             </span>
           </button>
           {showChart && (
@@ -195,11 +314,22 @@ function CapitalBlock({
   );
 }
 
-function Metric({ label, value }: { label: string; value: string }) {
+function Metric({
+  label,
+  value,
+  sub,
+  color = "text-gray-900",
+}: {
+  label: string;
+  value: string;
+  sub?: string;
+  color?: string;
+}) {
   return (
     <div>
       <p className="text-xs text-gray-400 uppercase">{label}</p>
-      <p className="text-lg font-medium text-gray-900">{value}</p>
+      <p className={`text-lg font-medium ${color}`}>{value}</p>
+      {sub && <p className="text-xs text-gray-400 mt-0.5">{sub}</p>}
     </div>
   );
 }
diff --git a/frontend/src/version.ts b/frontend/src/version.ts
index 85e3d1a..4b44ed4 100644
--- a/frontend/src/version.ts
+++ b/frontend/src/version.ts
@@ -1,4 +1,4 @@
 // Bumped each release so the running build is visible in the UI.
 // If the number shown in the app doesn't match the installed s9pk version,
 // the new frontend isn't actually being served.
-export const APP_VERSION = "0.2.26";
+export const APP_VERSION = "0.2.32";