Definition
Virtual Account
A dedicated account number issued per investor or per deal so incoming funds reconcile automatically.
A virtual account is an account number issued against a single underlying bank account, so that funds arriving on that number can be attributed to a specific investor, deal, or currency without relying on the payment reference. The problem it solves is the most common operational failure in SPV funding: a wire arrives with a mangled or missing reference and nobody can tell which commitment it belongs to. By giving each payer their own number, attribution happens on receipt, which shortens the gap between an LP wiring and being marked funded. Virtual accounts are also how a platform can offer local-currency collection in several markets while consolidating into one operating account.