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

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.

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.

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.

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.

The Venture Playbook: Starting a fund

Learn the ins and outs of venture — from launching your firm to supporting your portfolio companies.

VC 101 video course

Venture Capital 101

Learn the fundamentals of starting a venture capital fund.

VC regulations

Get familiar with the regulatory landscape by knowing its areas of focus, registration requirements, and exemptions.

Limited partnerships & management companies

Understand the limited partnership agreement (LPA) and the big role management companies play in VC.

Popular tools

LP pitch deck template

IRR calculator

VC regulatory playbook

Investor update template

Portfolio management

How to write an investment memo

What is a tear sheet?

What is a fund closing?

Fund management

Fund management

Carried interest

Learn how carried interest works for private funds, including fee structures, waterfall models, and tax treatment for fund managers.

Capital calls

When fund managers are ready to invest in a private company, they usually have to make a capital call first. Learn more about capital calls in private equity and venture capital.

ASC 820: A fund’s guide to fair value measurement

Learn the core principles of ASC 820, including how to apply the fair value hierarchy, select appropriate methodologies, and build an audit-ready process.

Fund performance

How VCs measure fund performance

Sharing your track record as an emerging VC

Internal Rate of Return: How to calculate IRR

Regulations

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.

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.

Accredited investors: Rules and requirements

Understand the accredited investor rule, including the requirements for qualification, why the requirement exists, and how the accredited investor rules may change.

Regulation D

Regulation D outlines some of the rules private funds and companies can follow to raise money by selling securities without having to register.

Taxes

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.

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.

Qualified small business stock (QSBS)

Understand the qualified small business requirements and how to take advantage of QSBS tax treatment for eligible stock options.