Category: Funds

SEC Proposes New Rule and Record-Keeping Requirements for Outsourcing by Registered Investment Advisers

Engaging service providers and outsourcing various functions is a normal part of running an effective business. From the newest emerging managers to the most established ones, venture capital firms and private fund shops regularly rely on service providers to fill various functions, including valuation, accounting, anti-money laundering and “know your […]

Last-Minute Checklist for Private Fund Managers Complying With Marketing Rule

By now, registered investment advisers (RIAs) know that this is their last week to ensure they come into compliance with the “new” marketing rule under the Investment Advisers Act of 1940. While the Securities and Exchange Commission (SEC) adopted amendments to Rule 206(4)-1 (Marketing Rule) on December 22, 2020, with […]

Venture Capital Advisers Not Off-Limits for SEC Scrutiny

In the past six months, the Securities and Exchange Commission has settled a number of enforcement actions against venture capital advisers who are exempt reporting advisers (ERAs) and not registered investment advisers (RIAs). In the years since the implementation of Dodd-Frank Act rules in 2011 – when large private equity […]

Russia and Belarus Sanctions Issues for Private Fund Managers 

Managers of venture capital and private equity funds – who in general must ensure compliance with sanctions regimes to which they are obligated to comply – need to pay special attention to recently strengthened requirements related to Russia and Belarus. This post answers some common questions about the applicable requirements.

RAISE6 on Air: Market Trends and Fund Structuring Twists

On October 19, 2021, Cooley fund formation attorneys Eric Doherty and Jimmy Matteucci led a presentation on “Market Trends and Fund Structuring Twists” during the 2021 RAISE Global Summit, which bills itself as “the premier event for LPs to find the next generation of venture capital firms.” The presentation focused […]