Can I accept crypto as an investment in my fund? One of my LP is interested.
Can we use crowdfunding solutions made for VCs and LPs such as Palico or Seedrs?
What happens if an LP needs to pull their money out before 10 years?
How do I handle LPs asking who else has invested in my fund without revealing names?
After a first close, how much time should be split between deal sourcing/investing vs. fully closing the rest of the fund?
How to address LPs concern about the time to liquidity?
What materials should be sent to a potential LP via email aside from the investment deck?
Can I raise from LPs abroad if my fund is based in the US and I only invest in US-based companies?
Does anyone have/know of a good template to calculate unrealized IRR for an early angel portfolio across rounds?
I’ve been invited to come present to a multi-family office event along with some other fund managers and startups. What can I and cannot say? Will this be considered general solicitation if I say we are looking for LPs for our fund during the presentation? Trying to be careful but don't want to miss the opportunity to ask if I can.
I'm being DD'ed by a reputable yet discreet FoF which got a strong reference check with one of my board advisors. What kind of background checks do FoFs typically conduct as DD besides looking at the data room?
From my understanding we should focus on individuals who are accredited investors only in as we build our LP lists ( in addition to any institutions although they are less likely to invest in a new fund manager is that correct? below is a list of the criteria i was able to find but I'd appreciate confirmation if this is correct Who is an accredited investor? An _accredited investor_ in the context of a _natural person_ includes anyone who: • earned income that exceeded $200000 (or $300000 together with a spouse or _spousal equivalent_) in each of the prior two years and reasonably expects the same for the current year OR • has a net worth over $1 million either alone or together with a spouse or _spousal equivalent_ (excluding the value of the person’s primary residence) OR • holds in good standing a Series or license.
Should we stick with the metrics from the spacetech deals we’ve done or can we talk about the deals we have done in the same market and stage but another segment?
What should I do if a potential LP tries to negotiate to lower my carry?
Is it worthwhile to speak with a broker dealer that a connection wants to introduce me to?
What should be my strategy for the initial conversation with a celebrity LP who contacted me through a close personal contact?
Is there a specific investment license for GPs? Something like the accredited investor?
Can I talk to startups about a potential investment with the fund ticket size? Discuss their interest?
is there a database where it shows how many newly formed VC funds raised via 506B VS 506C? my hypothesis is that 80% of those that have successfully closed are raising publicly but data would be better.
not sure if this is in the LPA but would spv deals count towards our track record and fund economics? I am getting some compelling SPV deals my way so wanted to check first.
All had the following from a potential anchor LP (willing to do 25%+) who is keen to invest 'Would you consider a sale of any part of the GP or a price concession on aum to a possible anchor?' From all I've read this seems to be a polite but firm no. Any counterpoints or counterarguments?
Hi VC Lab Family what are your thoughts on adding a link to the Fund pitch in the Newsletters?
We are in the process of getting our thesis validated by a few trusted advisors in our network and one of them make the following suggestion: _you would benefit from a corporate grant as anchor funder. OR go for a $10mn equity allocation from VC firm who need female founders._ We are not familiar with the concept of an anchor funder - does anyone have additional context they can share? Also curious if anyone has taken the equity allocation approach and can provide some additional context there. Thank you!
What's the general opinion on listing portfolio companies on the website while still raising?
Is it recommended to have an LP strategy or is mixing different profiles a “good” problem? We have large Japanese VCs European CVCs Swiss Family Office and rich individuals at the gate. Do we take them all or is it better to focus on one LP type?
Fund strategy: what’s the right amount of information to share with LP (who could of course forward it to their friends and partners)?
Any insights on covering legal expenses for a first fund prior to closing the fund? Local VC estimates $50-60K for initial legal work all of which are recoupable from post-close admin fees. But are people just paying this out of pocket or what?
In the #4 question it's not clear how to quantify how each Past Deal will be attractive to Limited Partners. Should we write a valuation of the future rounds of the Deals in exact numbers or just write 'very attractive' or 'not attractive'?
2) Do the individual investors within the SPV count toward the 99 (or 250) total LPs allowed? Or does the SPV count as a single LP?
1. Is the maximum number of investors allowed 99 or did it get raised to 250?
We had an interesting fund of funds proposal for 25% of our fund. *Do you know if the proposal is typical or aggressive or have advice for a counter?* This is the offer at a high level: • 40% of commitment allocated to initial investments of our fund. • 60% of commitment allocated to co-investments in subsequent funding rounds within our portfolio ventures as selected by the FoF (we don't receive any carry) • Option for FoF to lead subsequent funding rounds (for individual portfolio companies) as Lead Investor • 1 IC seat (we're okay with it)
Is it worthwhile or advisable to politely push back on anchors requesting favorable terms with resources we find that suggest that 'In contrast to traditional private equity settings none of the interviewed [for this HBS study] anchors sought fee breaks or other preferential economic terms. Some were attracted by the ability to shape the direction and legal structure of the fund or serve on the LP advisory board?' Mike made mention in a previous AMA that such favorable terms actually don't meaningfully move an LP closer to investment anyways which was interesting.
