Here the ideal structure for a Venture Studio is laid out, showing 5 legal entities - (1) Management Company, (2) General Partner, (3) Limited Partner, (4) The Venture Studio / Accelerator (operations), and (5) An Individual Company (created by the Venture Studio / Accelerator). While researching, its been suggested that the Venture Studio operations (4) be created as an LLC with the individual companies (5) being incorporated as C-corps, though I'd like some validation or refutation of this.
This article outlines the Venture Studio stricture and entities: https://govclab.com/2023/04/25/how-to-build-a-venture-studio/
The set-up of the Venture Studio as a C-corp or an LLC depends on your strategy. If you are planning to take investment into the Studio itself, including from the Studio fund, then it might be best to set it up as a C-corp. Otherwise, the Studio will commonly be an LLC. The portfolio companies are commonly all C-corps, allowing them to easily take outside investment.
The set-up of the Venture Studio as a C-corp or an LLC depends on your strategy. If you are planning to take investment into the Studio itself, including from the Studio fund, then it might be best to set it up as a C-corp. Otherwise, the Studio will commonly be an LLC. The portfolio companies are commonly all C-corps, allowing them to easily take outside investment.