All Questions

VC Lab is free.  We believe that it's necessary for the program to be free so that we can lower the barriers of entry to the asset class. The VC Lab accelerator is a product by Decile Group. Decile group also offers several application o...

VC Lab is free.  We believe that it's necessary for the program to be free so that we can lower the barriers of entry to the asset class. The VC Lab accelerator is a product by Decile Group. Decile group also offers several application only premium programs exclusively for top VC Lab participants: Decile Partners - Application-only program with a 94 NPS provides all of the business, legal, back office and deal review support to launch and scale an enduring VC firm without runaway costs and vendor headaches. Decile Capital - A family of funds to back new managers worldwide. Decile Capital Premier I, the flagship fund of funds dedicated to backing the top 5% of managers emerging from the VC Lab accelerator.

We typically host the sessions twice a week at 9am PDT. We record every session. We have had a number of Alumni in your time zone succeed and it's not a major impediment if you can't attend the sessions live. 

We typically host the sessions twice a week at 9am PDT. We record every session. We have had a number of Alumni in your time zone succeed and it's not a major impediment if you can't attend the sessions live. 

Yes, all 3 managing partners that are founders of the VC firm should apply. The stress and pressure of the VC Lab program has successfully helped teams solidify their relationship and also helped to determine that some partners should no...

Yes, all 3 managing partners that are founders of the VC firm should apply. The stress and pressure of the VC Lab program has successfully helped teams solidify their relationship and also helped to determine that some partners should not work together. All prospective partners in a new firm are encouraged to apply and enroll. All partners are asked to make one application video together, using a platform like Zoom to record the multiple parties. 

All accepted participants must publicly share on LinkedIn and Twitter their support for the Mensarius Oath of ethical investing. VC Lab is open to anyone and everyone that is passionate about starting a venture capital firm. A strong vid...

All accepted participants must publicly share on LinkedIn and Twitter their support for the Mensarius Oath of ethical investing. VC Lab is open to anyone and everyone that is passionate about starting a venture capital firm. A strong video with a professional background is a critical component of the application, since most general partners will be pitching over video for the foreseeable future. A large network of startup founders, a background in venture capital or experience angel investing are also helpful. 

The VC Lab program takes 14 weeks on average. However, we may extend the program if a cohort is operating during a holiday season. The program assists general partners in securing capital commitments to complete a first close on a new ve...

The VC Lab program takes 14 weeks on average. However, we may extend the program if a cohort is operating during a holiday season. The program assists general partners in securing capital commitments to complete a first close on a new venture capital fund, and this normally requires at least 25 hours per week worth of work. The VC Lab program is not educational, and the work is entirely dedicated to this goal. 

The VC Lab accelerator specializes in helping new and emerging managers reach a closing fast. Outside of the VC Lab accelerator, it takes new managers and 18-24 months to achieve a first close. VC Lab alumni complete your closing 6 month...

The VC Lab accelerator specializes in helping new and emerging managers reach a closing fast. Outside of the VC Lab accelerator, it takes new managers and 18-24 months to achieve a first close. VC Lab alumni complete your closing 6 months or less by following a proven methodology and avoiding common and costly mistakes. You can learn more about additional benefits here: https://govclab.com/benefits-of-vc-lab/

There is no cost to the 16 week VC Lab accelerator. The program is free. Our missions is to lower the barriers of entry into the asset class. Venture capital holds the potential to be a potent catalyst for good in the world, funding in...

There is no cost to the 16 week VC Lab accelerator. The program is free. Our missions is to lower the barriers of entry into the asset class. Venture capital holds the potential to be a potent catalyst for good in the world, funding innovative companies that tackle some of the most pressing challenges of our time. This impact isn’t just about financial returns; it’s about generating positive societal change, shaping the future, and improving lives. You can learn more here: https://govclab.com/2023/07/14/the-vc-lab-way/

No. Managers should only call the amount of capital that they need for current investments, fund expenses, and management fees. Excess capital sitting in a bank account without being deployed reduces the IRR of the fund. As a rule, manag...

No. Managers should only call the amount of capital that they need for current investments, fund expenses, and management fees. Excess capital sitting in a bank account without being deployed reduces the IRR of the fund. As a rule, managers should keep fund bank account balances low and call capital as needed.

• Standard practice is to keep money in the fund account and deploy quickly to invest into companies.  • Investment instruments are not covered by the FDIC nor the CDIC. • First time fund managers for Fund I or Fund II should not have co...

• Standard practice is to keep money in the fund account and deploy quickly to invest into companies.  • Investment instruments are not covered by the FDIC nor the CDIC. • First time fund managers for Fund I or Fund II should not have consistent material funding amounts sitting idle in their accounts. Fund III and Fund IV are more aligned with a consideration for a "Sweep Repo" as this mechanism will require material cash minimums to maintain to actually benefit.   Deploying idle investment capital from LPs into investment instruments is NOT standard, so we don't recommend doing this until Fund III or Fund IV is being managed.

We have received feedback from the community that some managers increased conversion when they used the word form instead of PACT in their verbal conversations and in emails.

We have received feedback from the community that some managers increased conversion when they used the word form instead of PACT in their verbal conversations and in emails.

The table in this blog post is a good start: https://govclab.com/2022/11/07/managing-fund-expenses-for-venture-capitalists/ There are no best practices here. Every fund is different. For example, a Deep Tech fund many need to spend a lo...

The table in this blog post is a good start: https://govclab.com/2022/11/07/managing-fund-expenses-for-venture-capitalists/ There are no best practices here. Every fund is different. For example, a Deep Tech fund many need to spend a lot of money to perform heavy IP diligence on an investment and it may be justified as a fund expense. Another fund may be required by LPs to have an audit and that is also the justified as a fund expense. Finally, every fund expense has an opportunity cost because that is capital that could be deployed into a startup. Therefore, most new and emerging GPs with small fund-sizes that are optimized for the carry try to keep fund expenses to a minimum. 

Ontario is an internationally recognized domicile. Alberta, BC and Quebec may make sense if all LPs and investments are from that region. Otherwise, Ontario is the recommended domicile because it's a hub. This means that there is a good ...

Ontario is an internationally recognized domicile. Alberta, BC and Quebec may make sense if all LPs and investments are from that region. Otherwise, Ontario is the recommended domicile because it's a hub. This means that there is a good market of experienced and specialized service providers, unlike the other provinces. 

See the diagram below: [Canada Cornerstone Structure.png]

See the diagram below: [Canada Cornerstone Structure.png]

There are not really "pros and cons" for naming a Fund's entities - however there are conventions that make it easy to follow (see below). Generally speaking though, Firms/Funds do not have "series" like SPVs might - unless one is refer...

There are not really "pros and cons" for naming a Fund's entities - however there are conventions that make it easy to follow (see below). Generally speaking though, Firms/Funds do not have "series" like SPVs might - unless one is referring to a type of Fund of Funds structure (or potentially vehicles managed by AngelList). Whether a corporate suffix has periods or no periods is also generally immaterial.  With respect to a fund thesis, a Fund 1 and a Fund 2 can have different ones - or the Fund name can specify the name of a vertical, region, etc. Standard naming conventions: Management CompanyThe Venture Capital Firm’s “Brand”The Management Company is the entity that endures across Fund 1, Fund 2, Fund 3, etc. - it is owned by the fund managers and typically employs only those analysts and other professionals working across all of the firm’s funds.  Example Names and Conventions Example Capital, LLC Example Capital Management, LLC Example Ventures, LLC Example Ventures Management, LLC General Partner EntityThe Entity that Manages the FundThe General Partner entity (important to note this isn’t referring directly to the fund managers, as is commonplace) is owned (mostly) by the Management Company. It manages the activities of the Fund, in a general sense. Venture Partners and any other advisors who are working only on the specific Fund managed by the specific General Partner entity will sit on this entity’s cap table, in most cases.  *Note that a new General Partner Entity is set up for each Fund. The General Partner Entity for Fund I typically is not numbered, though General Partner Entities for subsequent funds are often denoted by arabic numerals starting with 2.  Example Names and Conventions Example Capital GP, LLC Example Ventures GP, LLC Limited Partnership (the actual Fund)The actual “Fund” where the Limited Partners sitThis is the Fund itself, where the Limited Partners invest into and portfolio investments are deployed from.  *Note that a new Limited Partnership  is set up for each Fund, usually denoted by a roman numeral.  Example Names and Conventions Example Capital Fund I, LP Example Ventures Fund I, LP

It's not common to see hurdle rates for funds less then $30m, even in the EU. Small funds are optimized for the carry, not for fees. So, when you insert a hurdle, you're going to have mis-aligned incentives and expectations with your LPs...

It's not common to see hurdle rates for funds less then $30m, even in the EU. Small funds are optimized for the carry, not for fees. So, when you insert a hurdle, you're going to have mis-aligned incentives and expectations with your LPs because they are reducing your carry with this approach AND forcing you to use a European Waterfall vs American which is much less advantageous for small funds. To answer your question: There is no bench mark for VC. It's super uncommon for VCs to have hurdles. For the Private Equity asset class, hurdles are usually in the 5% - 10% range. But again, these are typically applied to funds in the $100m+ range. IMPORTANT: Avoid hurdles at all costs. Read into the intent of the LP rather then the 'ask'. Most LPs that are asking for this will be bad LPs because they are not aligned with your goals and expectations. You will need to mange these bad LPs for 10+ years. 

The platform currently integrates with Gmail, Microsoft Office 365 and SendGrid. We also recently released a Zapier integration for deal-flow and we have a number of additional integrations on the roadmap. 

The platform currently integrates with Gmail, Microsoft Office 365 and SendGrid. We also recently released a Zapier integration for deal-flow and we have a number of additional integrations on the roadmap. 

In most cases, your suggested approach is the right one. There are some exceptions such as when the founders did something bad or unethical, but in general, your approach is sound. With insider rounds, the CEO needs to drive this proce...

In most cases, your suggested approach is the right one. There are some exceptions such as when the founders did something bad or unethical, but in general, your approach is sound. With insider rounds, the CEO needs to drive this process. They should have an idea of the construction of the round and terms. Then, they should speak 1:1 with trusted investors like yourself for feedback on the round. Then, they can go to all other insiders with the proposal. Consider proactively reaching out to the CEO to help them navigate this.

It's difficult to answer this question without more context on the fund strategy, however  HSBC could be an option here. 

It's difficult to answer this question without more context on the fund strategy, however  HSBC could be an option here. 

There are lots of ways to go about this, but one good way is to start with the focus of the thesis. Then, segment the network around this focus. Next, try to identify founders within the network and people that can help those founders. F...

There are lots of ways to go about this, but one good way is to start with the focus of the thesis. Then, segment the network around this focus. Next, try to identify founders within the network and people that can help those founders. Finally, from the bottoms up try to calculate the value that those individuals can create together. 

Here are the main considerations: 1. Venture funds can't receive advisory shares. So, if the founder makes you an advisor, you can't transfer that ownership to the fund. 2. If you are an advisor or consultant, that will be a conflict of...

Here are the main considerations: 1. Venture funds can't receive advisory shares. So, if the founder makes you an advisor, you can't transfer that ownership to the fund. 2. If you are an advisor or consultant, that will be a conflict of interest with your fund.