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Venture Legal

Is the ManCo Registered as a C-Corp, GPs as LLC/LLP, and the Fund as LLC for Fund Formation?

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May 03, 2023
For fund formation is the ManCo registered as C-corp the GPs collectively register as LLC/LLP and the Fund registered as LLC?
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Mike Suprovici
Accepted Answer
May 03, 2023
Generally speaking for Delaware domiciled funds, the ManCo and GP entity are LLCs, and the fund itself is a Limited Partnership. The fund managers own the ManCo, which owns the majority of the GP entity. The Limited Partnership (where the limited partners invest into) is managed by the GP entity. 
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