We are establishing a $3.8 million USD pre-seed fund for a university accelerator to support spinoffs, collaborating with donors in Montreal, Canada. Creating a fund based on donation money vs classic LPs, of course donors are not expecting returns except tax credits. We are also open to blended model that works with the fund formed by LP money and donationI money. If you have experience in this area I would love to hear from you.

To make closing a $3.8 million USD pre-seed fund successful, especially one involving a blended model of donor and LP money, consider the following strategies: 1. **Clear Communication**: Clearly articulate the fund's mission, structure, and benefits to both donors and LPs. Highlight the unique value proposition of supporting university spinoffs. 2. **Strong Thesis**: Develop a compelling investment thesis that aligns with the university accelerator's goals and demonstrates potential for high-impact outcomes. 3. **Engage Stakeholders**: Actively engage with university stakeholders, potential LPs, and donors to build trust and commitment. 4. **Leverage Networks**: Utilize existing networks within the university and broader community to identify and secure initial commitments. 5. **Showcase Success Stories**: Highlight past successes of the university accelerator to build credibility and attract interest. 6. **Professional Support**: Consider partnering with experienced fund managers or advisors to navigate the complexities of a blended fund model. 7. **Regulatory Compliance**: Ensure all legal, tax, and accounting concerns are thoroughly addressed to avoid any compliance issues. 8. **Flexible Structure**: Design a fund structure that accommodates both donor contributions and LP investments, ensuring clarity on how each type of contribution will be managed and utilized. By focusing on these strategies, you can enhance the likelihood of a successful fund closing.