Month: October 2026
Primer: Launching the Firm – Emerging Managers, Anchors and Seeders in Private Equity and Venture Capital
We are often asked about launching – by principals gaming out the spinout over a weekend, by two partners with a term sheet from a seeder and a deadline, by anchors and seed platforms building programs on the other side of the same table, and by founders three funds in […]
Should a Continuation Vehicle Cost a Venture Capital Adviser Its Exemption?
Over the past few years, I’ve received an increasing number of calls from venture capital fund managers about continuation vehicles. More recently, I’ve been hearing from fellow regulatory lawyers who are encountering the same issue, particularly as venture capital exempt reporting advisers (VC ERAs) are exploring partnerships with registered investment […]
Primer: Estate Planning for Carry, Capital and Firm Value in Private Equity and Venture Capital
We are often asked by private equity and venture capital professionals how to approach estate planning for the economics they earn through their firms – and, nearly as often, by the firms themselves: what should a sponsor do when a partner holding significant carried interest asks to move those economics […]
Primer: Investment Limits & Manager Discretion
Private equity and venture capital funds are typically blind pools. Limited partners commit capital before they know exactly which companies the fund will invest in, which transactions the fund will pursue, which follow-on financings will occur, which exits will become available or which conflicts will arise over a fund life […]