All Questions

The PACT template is generally based on US jurisdiction, as it includes references to the Securities Act of 1933 and accredited investors, which are crucial for compliance with US securities laws. For use in Europe, it would need to be m...

The PACT template is generally based on US jurisdiction, as it includes references to the Securities Act of 1933 and accredited investors, which are crucial for compliance with US securities laws. For use in Europe, it would need to be modified to align with local regulations, as the template does not specifically cater to European general solicitation laws. Legal counsel should be consulted for jurisdiction-specific modifications.

Max Exposure, as a percentage of Committed Capital, typically refers to the maximum amount of the fund's total capital commitments (at the time of the investment) that can be invested into any single portfolio company. This is often set ...

Max Exposure, as a percentage of Committed Capital, typically refers to the maximum amount of the fund's total capital commitments (at the time of the investment) that can be invested into any single portfolio company. This is often set at a specific percentage, such as 10%, to prevent the fund from concentrating too much risk in any one investment. Please note that this % is NOT OF THE TARGET FUND SIZE. 

The fund will need to open up a single secondary account for pre-funded contributions. Then, the fund would call the appropriate amount of capital from this pre-funded account.

The fund will need to open up a single secondary account for pre-funded contributions. Then, the fund would call the appropriate amount of capital from this pre-funded account.

Please ask the AI Agreement Reviewer, and if you have additional questions, please post them in Base.

Please ask the AI Agreement Reviewer, and if you have additional questions, please post them in Base.

Conceptually, a legal agreement such as a Limited Partnership Agreement is generally created to conform to a specific domicile, such as Delaware - so in a practical sense, a Delaware Fund (with Delaware domiciled entities) is going to ha...

Conceptually, a legal agreement such as a Limited Partnership Agreement is generally created to conform to a specific domicile, such as Delaware - so in a practical sense, a Delaware Fund (with Delaware domiciled entities) is going to have an LPA designed to conform with Delaware (and of course United States) laws. This article goes through some of the cases where Delaware may not necessarily be advantageous - however it's important to note that this will depend on the Fund's specific requirements, as well as the fund managers' (particularly with regard to taxes): https://govclab.com/2023/06/10/delaware-is-the-vc-domicile-of-choice/

The AI Agreement Reviewer is specifically designed for these types of questions - if there are still questions afterwards, please post them in Base. 

The AI Agreement Reviewer is specifically designed for these types of questions - if there are still questions afterwards, please post them in Base. 

Sector, geography, and even general check-sizes are essential parts of a Fund's investment thesis and all have strategic considerations. Any related limitations on the fund managers' discretion in making investments usually derives from ...

Sector, geography, and even general check-sizes are essential parts of a Fund's investment thesis and all have strategic considerations. Any related limitations on the fund managers' discretion in making investments usually derives from said factors, rather than the other way around - and these are typically baked into the Fund's Limited Partnership Agreement. Other restrictions upon a fund manager's discretion in making investments will depend on their leverage, the size of the fund, demands from limited partners (particularly family offices and institutional investors), the domicile of the fund, requirements for investment committees, etc. For small and emerging funds, there are often few, if any, of the above types of restrictions.

Generally speaking, none, unless a limited partner defaults on paying a capital call - in such cases the fund's Limited Partnership Agreement (Cornerstone for Decile clients), usually spells out the fund manager's options in dealing with...

Generally speaking, none, unless a limited partner defaults on paying a capital call - in such cases the fund's Limited Partnership Agreement (Cornerstone for Decile clients), usually spells out the fund manager's options in dealing with a defaulting limited partner's interest in the fund.