Traditional Fund Administration Scope of Services

Platform Services

Fund Management Services: Manage capital call notices, distribution notices, and financials prepared by Belltower
GP Dashboard: Access to GP dashboard providing fund's performance metrics, schedule of investments, and balances
Investor Management:
- Data Room for presenting your fund to investors;
- Secure portal for sharing investment documents, reports, filings, and portfolio company updates with your investors;
- Recording of investor subscriptions, capital contributions, maintenance of investor ledger;
- Digital subscription flow for investor onboarding
Account Management: Customer Success team assigned to assist with fund operations and provide platform support; dedicated engineering and technical support

Fund Setup Attributes

Provide AngelList with your GP and Adviser entities to run a self-advised fund. You can use custom documents drafted by your own legal counsel or utilize template fund documents provided by AngelList.

Banking

Facilitate payments for subscriptions, capital calls, deployments and distributions
[Optional] Open fund bank account to support multi-currency transactions

Investor Closing and Management

[Ongoing] Provide online investor subscription process
[Ongoing] Perform KYC/AML checks for up to 50 on investors
[Ongoing] Record and adjust investor commitments
[Ongoing] Support for capital calls

Deployments

[Ongoing] Enqueue wires for GP approval
[Ongoing] Store executed investment documents
[Ongoing] Record investment terms and fund asset information

Distributions

[Ongoing] Prepare distribution preview for GP approval
[Ongoing] Enqueue wires for cash and carry share distributions for GP approval

Fund Accounting and Valuation Support

[Ongoing] Maintain general ledger and account records
[Ongoing] Track and enqueue wires for fund expenses
[Ongoing] Record active investments by cost, value (realized and unrealized), multiple, and date, as informed by the GP
[Ongoing] Cash reconciliation support
[Ongoing] Record capital call line of credit activity
[Ongoing] Calculate carried interest distributions
[Ongoing] Calculate management fee payments; fee waivers
[Ongoing] Subsequent close interest

Fund Reporting

[Ongoing] Provide annual and quarterly unaudited financial statements
[Ongoing] Provide investor capital account statements
[Ongoing] Liaising with fund auditors

Fund Manager Responsibilities

Services and responsibilities not listed above are the Fund Manager Responsibilities and are not included in the Traditional Fund Administration Services.

Add-Ons

Additional add-on services may be available for a variable rate. Commonly requested add-on services include:

Tax services	Track and make U.S. tax extensions and filings for the fund, 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 Additional tax services available for 1099s, foreign filings, and fund blocker setup for investing in passthrough investments	$6,000+ annually
Additional KYC/AML checks	KYC/AML for any investors beyond the included 50	$5,000 per 50 additional investors
Management Company	See the Management Company Scope of Services	$6,000 annually
GP Entity Administration	See the GP Entity Scope of Services	$5,000 annually

*AngelList is a financial technology company, not a bank or FDIC-depository insured institution. Banking services are provided by Grasshopper Bank, N.A. and Piermont Bank; Members FDIC. The Networked Banking sweep program Sweep programs allocates deposits across a network of FDIC-insured banks and are offered through AngelList’s partner banks, Grasshopper Bank, N.A. and Piermont Bank, for up to $125 million in aggregate coverage for eligible participants. The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured bank. Account holders must explicitly elect to participate in the Networked Banking sweep program. Not all customers or accounts are eligible to participate in the Networked Banking sweep program and AngelList does not guarantee that customers or accounts will be eligible for additional FDIC insurance coverage. For more information, see our banking terms here.