If you have a major investment in a company that would foreseeably become the first investment of your fund, can this count towards your financial backing, and if so, by how much? How are investments generally accounted for?
You would ‘Warehouse’ this deal into your fund. This is a common practice which makes your fund more attractive to investors.
Basically, you would move your investment into your fund. LPs would invest in your fund and get a return once a liquidity event takes place from this deal.