Guides

Run a Fund guides

Pick the question in front of you, then work through the decisions, responsibilities, and evidence behind it.

Start with your operating decision

SPV vs. syndicate: what actually changes?Work out whether you need one legal vehicle, a repeatable investor relationship, or both.How to compare fund administratorsFind out who does the work, which controls remain yours, what can move, and what happens when service fails.How to set up your first SPVSequence the decisions, documents, money movement, and handoffs before you invite investors.How to change or wind down an SPVPlan a provider change, extension, dissolution, or final distribution without losing the record trail.

Cap table vehicles

Cap table vehicles: structure and useA practical guide to using an aggregation vehicle to simplify an issuer’s cap table while preserving clear ownership, governance, economics, records, and investor rights behind it.

UK vehicles

SEIS or EIS: what founders should decide firstA founder-oriented operating guide to eligibility, advance assurance, investor communications, share issuance, compliance statements, and ongoing SEIS or EIS conditions.

Private-market investing

Fund or SPV: how to chooseA worked decision model for choosing a committed portfolio fund, deal-by-deal SPVs, or a deliberate hybrid without underestimating operating cost or conflicts.The private deal execution lifecycleA provider-neutral operating sequence from allocation and structure through investor onboarding, cash reconciliation, ongoing administration, exit, and durable record retention.Direct-investment vehicles for families and employeesHow to decide when a direct-investment SPV fits family offices, employee groups, and climate or thematic investors, with governance, conflicts, and cost controls.

Compliance and onboarding

KYC, AML, and investor onboarding for private fundsA practical guide to identity checks, beneficial ownership, source of funds, entity and trust onboarding, and durable investor records for private vehicles.

Cash operations

Fund banking, capital calls, and payment controlsHow private funds and SPVs should design bank accounts, capital calls, wire controls, cash reconciliation, foreign-currency handling, and durable payment records.

Luxembourg vehicles

Luxembourg private funds and SPVsA decision guide to Luxembourg private-fund and SPV structures, managers, depositaries, documents, audit, reporting, and the questions to resolve before launch.

Hedge funds

Hedge fund structures and operationsA practical map of open-ended hedge-fund design, offshore and onshore choices, subscriptions and redemptions, NAV, custody, expenses, fees, and crypto-specific controls.

Secondaries and exits

SPV secondaries, transfers, and exitsHow to analyze and execute transfers of private-fund and SPV interests, from consent and pricing through KYC, records, tax, IPOs, and final distributions.

Angel syndicates

How to launch and run an angel syndicateA field guide to syndicate positioning, lead skills, investor memos, allocation, compliant distribution, repeatable deal operations, and long-term member trust.

Fund administration

Fund identifiers and tax reporting: EIN, GIIN, LEI, and K-1What common fund identifiers do, when they may be required, and how to build a reliable registration, filing, and investor-tax reporting calendar.What to do when an SPV provider shuts downA continuity and migration playbook for managers and investors when an SPV platform, administrator, manager, bank, tax firm, or portal closes or stops serving a vehicle.

SPVs

What does an SPV cost? A lifecycle cost modelA practical model for estimating an investment SPV's formation, annual administration, tax, transaction, exception, and wind-down costs without relying on one headline fee.How to run an SPV from decision to wind-downAn end-to-end operating playbook for an investment SPV, including structure design, offering, onboarding, close controls, administration, asset events, distributions, and dissolution.