# A comprehensive guide for emerging fund managers Starting a VC firm is a complex process. Leverage our free resources as you build your first fund. ## Getting started Author:Rita Astoor Date:December 2025 featured article How to start a venture capital firm Learn the essential steps for launching a venture capital firm, from developing an investment thesis and structuring your fund to managing the complete fund lifecycle.](https://fund-forecasting@carta.com/uk/en/learn/private-funds/venture-capital/) Fund Formation December 2025 The anatomy of a modern fund structure Learn about fund structures for private investment funds, including the key entities, the flow of economics, and the legal agreements that govern them. View](https://fund-forecasting@carta.com/uk/en/learn/private-funds/structures/) Investors January 2025 Fund management Understand the key components of fund management for private equity and venture capital funds. We'll cover how fund management works throughout a fund's lifecycle—from capital allocation, risk management, portfolio company oversight, asset management, and fund administration. View](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/) Investors March 2026 The investment thesis: Your fund’s strategic blueprint A fund investment thesis is the blueprint for your fund's strategy, guiding everything from fundraising to daily fund management. Learn how to write an investment thesis to develop a winning fund strategy. View](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/investment-thesis/) The Venture Playbook: Starting a fund Learn the ins and outs of venture — from launching your firm to supporting your portfolio companies. [Download](https://fund-forecasting@carta.com/uk/en/learn/resources/starting-vc-fund-playbook/?ir=learn-fund-formation-collection) ## VC 101 video course VIDEO COURSE **Venture Capital 101** Learn the fundamentals of starting a venture capital fund.](https://fund-forecasting@carta.com/uk/en/learn/vc-101/) VIDEO COURSE **VC regulations** Get familiar with the regulatory landscape by knowing its areas of focus, registration requirements, and exemptions.](https://fund-forecasting@carta.com/uk/en/learn/vc-101/1/?slide=5) VIDEO COURSE **Limited partnerships & management companies** Understand the limited partnership agreement (LPA) and the big role management companies play in VC.](https://fund-forecasting@carta.com/uk/en/learn/vc-101/1/?slide=4) ## Popular tools [**LP pitch deck template** View tool](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/investor-pitch-deck/) [**IRR calculator** View tool](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/fund-performance/irr/) [**VC regulatory playbook** View tool](https://fund-forecasting@carta.com/uk/en/learn/private-funds/regulations/playbook/) [**Investor update template** View tool](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/investor-updates/) ## Portfolio management [**How to write an investment memo**](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/investment-memo/) [**What is a tear sheet?**](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/tear-sheets/) [**How to write an investment thesis**](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/portfolio-management/investment-thesis/) ## Fund performance [**How VCs measure fund performance**](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/fund-performance/) [**Sharing your track record as an emerging VC**](https://fund-forecasting@carta.com/uk/en/learn/private-funds/management/track-record/) ## Regulations Author:Holli Heiles Pandol Date:December 2022 featured article Venture capital regulations The SEC regulates most aspects of venture capital funds and fund managers. Learn more about private fund regulation requirements to remain compliant.](https://fund-forecasting@carta.com/uk/en/learn/private-funds/regulations/) Investors November 2025 AML and KYC: The fund operations mandate This article explains the core anti-money laundering and counter-terrorist financing regulations, as well as the importance of establishing a robust AML and CTF programme to protect your fund from the consequences of non-compliance. View](https://fund-forecasting@carta.com/uk/en/learn/private-funds/regulations/aml-kyc/) ## Taxes Author:The Carta Team Date:March 2026 featured article Venture capital tax treatment Learn about the tax treatment of venture capital funds, including the treatment of management fees and carried interest, special considerations like QSBS, and what LPs expect from your fund during tax season.](https://fund-forecasting@carta.com/uk/en/learn/private-funds/venture-capital/taxes/) Carta June 2025 Schedule K-1 tax form A Schedule K-1s is a key tax document used by LLCs and other pass-through entities. In this article, we cover important due dates, filing information, and what to include in a Schedule K-1 form. View](https://fund-forecasting@carta.com/uk/en/learn/startups/tax-planning/schedule-k-1-tax-form/) Educational Essentials February 2026 Qualified small business stock (QSBS) Understand the qualified small business requirements and how to take advantage of QSBS tax treatment for eligible stock options. View](https://fund-forecasting@carta.com/uk/en/learn/startups/tax-planning/qsbs/)