Category: Primers

Primer: Management Fees in Venture Capital Funds

We are often asked about the “market” rate for management fees in actively managed venture capital funds.  This primer discusses mainstream venture capital funds, so to speak.  If your fund is in the venture space but has special attributes (such as being a secondaries fund, a very small micro-fund, a […]

Primer: LP Governance Rights in Venture Capital Funds

Venture capital funds are closed-ended, long duration blind pools.  In the many years following closing, the fund manager is permitted to operate and invest the fund in its discretion as long as it stays within some limited guidelines codified at inception in the partnership agreement.  But, what happens if circumstances […]

Primer: Carried Interest in Venture Capital Funds

We are often asked about the prevalent market options for structuring carried interest provisions in venture capital funds.  In this post, we’ll speak of mainstream venture capital funds, so to speak.  Terms differ in special situations, like co-investment funds, top-up funds, funds that are wholly or partially funds-of-funds, and so […]

A Primer on “Freedom of Information Act” (FOIA) Issues for VC Fund Managers

In the United States, at both the federal and state level, investors that are public agencies (such as state and local government employee pension funds, public university endowments, etc.) are usually subject to rights of members of the public to request information about their activities by way of a “freedom […]