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I need to open a brokerage account for a portco that exited. Will be holding the public stock before distributing to LPs. Should I open the account for the LP or the Manco? I am leaning toward using Fidelity but any recs on best brokerage account for VCs would also be appreciated.
A brokerage account should generally be opened for the fund entity (the Limited Partnership in most cases) that the investment into the portfolio company was made from. We don't have any particular recommendations for best brokerage accounts - however in these cases funds often ask the portfolio company for one. Fidelity should work, as should any of the well-known brokerage houses.