General Admin and Platform Services
- Fund Administration Services: access to the AngelList Investor Management platform, deployment, portfolio tracking, fund-level reporting, accounting, and distribution support, described in more detail below
- GP Dashboard: Access to GP dashboard providing fund's capital balance, current valuation, performance return calculations, and carried interest calculations
- Investor Portal: Secure portal for investors to view their investments, valuations, investment documents, reports, filings, and certain portfolio company updates
Fund Formation and Filings
- Delaware fund formation and payment of initial filing fees
- Obtain EIN for fund entity
- Annual Delaware filings and payments
- Form D and state notice Blue Sky filings
Banking
- Fund bank account setup with multi-currency transactions
- Closing coordination and outgoing wire processing to portfolio companies
- Treasury services to track all incoming and outgoing wires; provision of pro forma or cap table data as provided
Investor Closing and Management
- Fully electronic and integrated process for investor closing; Streamlined funds transfer process; distributions calculation and management
- KYC/AML checks on investors and control persons
- USDC funding through Layer2 Financial
- Record and adjust LP commitments
- Support for capital calls and distributions
- Secure portal for drafting and publishing updates to LPs
Transaction Reviews and Investment Execution
- Review of investments and support for investment execution, including signature facilitation
- Treasury services to track all incoming and outgoing wires; provision of pro forma or cap table data as provided
- Investment documentation storage, recording and maintaining investment terms and fund asset information
- Support for carry sharing agreements on specific deals
Post-Close Actions
- Support for post-close actions, including reviewing and summarizing of shareholder actions and coordinating signature collection, provided that the Fund Manager is responsible for timely response and conducting any diligence or outreach to the portfolio company beyond the standard review and summary provided
- Process valuation updates and corporate actions for fund assets
- Streamlined funds transfer process; distributions calculation and management
Fund Accounting and Valuation Support
- General ledger and account record maintenance; expense tracking and payment for the fund
- Active investment tracking by cost, value (realized and unrealized), multiple, and date.
- Live valuation, position, and financial reporting for each investment with valuation summary updates published to GP dashboard.
- Unaudited financial statements and capital account statements provided to LPs (depending on Service Tier, must be requested at fund launch)
Tax Services
- Tax tracking and filings for the fund, with income and expense tracking and allocation by tax characteristic
- Prepare, track, and submit Federal tax return extensions and filings as required, including: Forms 1065, schedules K-1, K-3, and supplemental forms, as required
- Furnish to investors schedules K-1 & K-3, Form 1042(s), and Form 8805, as applicable
Services and responsibilities not listed above are the Fund Manager Responsibilities and are not included in the Fund Administration Services. Certain add-on services may be provided at an additional cost: