Process
A clear, transparent path from fund idea to first close.
Four phases. Defined deliverables. Defined timeline. No mystery billing.
Phase 01
Scope & Strategy
Week 1
WHAT WE DO
Discovery call, fund thesis review, structure recommendation (entity, exemption, investor pool), fixed-fee proposal or scope letter.
WHAT WE NEED FROM YOU
Strategy summary, target investor pool, economics preferences, timeline to first close.
OUTPUT
Engagement scope + roadmap document.
Phase 02
Structure & Documents
Weeks 2–5
WHAT WE DO
Entity formation (fund and GP/manager), PPM drafting, LPA/Operating Agreement, subscription documents, side letter framework, GP commit economics, waterfall and preferred return mechanics, carry structure.
WHAT WE NEED FROM YOU
Finalized economics, any investor-specific side letter requests, strategic decisions flagged in Phase 1.
OUTPUT
Complete document set, ready for investor review.
Phase 03
Filing & Compliance
Weeks 5–7
WHAT WE DO
Form D and state notice filings, bad-actor disqualification checks, investment adviser registration analysis (ERA vs. registered), Investment Company Act exemption documentation.
WHAT WE NEED FROM YOU
Information on covered persons for bad-actor screening, adviser history, any prior filings.
OUTPUT
Filed forms + a compliance calendar for the year ahead.
Phase 04
Week 7+
WHAT WE DO
First-close readiness review, investor onboarding mechanics, ongoing compliance cadence, side letter administration, annual compliance plan.
WHAT WE NEED FROM YOU
Investor subscription packages as they come in, any fund-level changes during the year.
OUTPUT
Close checklist + annual compliance plan.
Scope Clarity
What We Don't Do
Clarity reduces scope creep and builds trust. Here's what's outside our scope:
We don't broker your raise or introduce investors — we're your lawyer, not your placement agent.
We don't audit financials — we coordinate with your auditor.
We don't provide tax advice on fund-level allocations — we coordinate with your tax counsel.
We don't manage your fund's day-to-day operations.
We keep your legal house clean so the rest of your team can do its job.
Billing
Engagement Model & Billing
Formation
Fixed-fee, scoped after the discovery call. You know the cost before we start.
Ongoing Compliance
Flat annual retainer or hourly — your choice.
Ad Hoc
Hourly, with advance notice.
