Ask AI
Log In Sign Up
Go to Venture Legal
Previous Question Next Question
0
Venture Legal

Is the ManCo Registered as a C-Corp, GPs as LLC/LLP, and the Fund as LLC for Fund Formation?

Asked by:
Community Member
1
0
May 03, 2023
For fund formation is the ManCo registered as C-corp the GPs collectively register as LLC/LLP and the Fund registered as LLC?
1 answer
0
Mike Suprovici
Accepted Answer
May 03, 2023
Generally speaking for Delaware domiciled funds, the ManCo and GP entity are LLCs, and the fund itself is a Limited Partnership. The fund managers own the ManCo, which owns the majority of the GP entity. The Limited Partnership (where the limited partners invest into) is managed by the GP entity. 
Add a comment

Log In or Sign Up

Please Log In, or Sign Up to participate in the discussion.

Log In
or
Sign Up

Apply to VC Lab Cohort 17

Get full access to Decile Base and the Decile Hub venture platform for free by joining the VC Lab program.

Apply to VC Lab Cohort 17
Related Questions
Can I register a ManCo first while waiting for the fund formation process to start, then roll it in to the fund's structure later with updated documents? 0 May 03, 2023 Is it Necessary to Finalize Venture Partner Arrangements at Fund Formation or Can We Allocate Funds and Issue Specific Amounts Later? 0 May 03, 2023 Is it Necessary to Establish LP, GP, and ManCo Simultaneously or Can I Register a DE LLC for ManCo First? 0 May 03, 2023 What is an Operating Partner's role in a fund? 0 May 03, 2023 Where can I learn about step by step process if Cap table of ManCo needs to be changed/ modified (Add/ Edit) after a fund is set up ? 1 Nov 23, 2024