Fund formation services for first-time fund managers
Allocations forms your first fund and runs it afterward: a Delaware limited partnership under 3(c)(1) or 3(c)(7) or an offshore vehicle, EIN and filings, a dedicated bank account, LPA, PPM and subscription documents, and LP onboarding. The Fund plan is $19,500 per year and covers formation and full administration with 0% platform carry.
What fund formation includes
- ✓Entity formation, EIN and regulatory filings
- ✓Dedicated bank account
- ✓LPA, PPM and subscription documents
- ✓Side letters
- ✓Reg D filings
- ✓LP onboarding, KYC and accreditation
- ✓Capital call setup
- ✓Administration after launch, with a dedicated fund accountant
The path most first-time GPs take
- 1
Prove the thesis with SPVs
Run deal-by-deal SPVs (Standard $9,950 or Premium $19,500, one-time).
- 2
Choose the structure
3(c)(1) or 3(c)(7), Delaware or offshore (Cayman, BVI, Seychelles), with your counsel.
- 3
Form and bank the fund
Entity, EIN, filings and bank account handled at launch.
- 4
Onboard LPs and close
KYC, accreditation and e-signature in one flow; unlimited closes on the Fund plan.
- 5
Run the fund
Capital calls, accounting and statements on the same platform, with a dedicated fund accountant. K-1 preparation is available as an add-on.
3(c)(1) vs 3(c)(7) at a glance
| 3(c)(1) | 3(c)(7) | |
|---|---|---|
| Investor limit | Up to 100 beneficial owners (250 for qualifying venture funds) | No fixed cap under the exemption |
| Investor standard | Typically accredited investors (under Reg D) | Qualified purchasers |
| Typical use | Emerging managers, first funds | Larger funds with institutional or high-net-worth LPs |
How long does fund formation take?
You can start your fund's setup on Allocations online in minutes. How long it takes to reach a first close depends mostly on your terms, counsel review and anchor-LP negotiations. Fund formation law firms commonly cite roughly 6 to 10 weeks from engagement to first-close-ready documents for a standard US venture fund, and longer for offshore or master-feeder structures (Astraea Counsel; NAIM Law). After the first investor is irrevocably committed, Form D is due to the SEC within 15 days (SEC.gov), with state notice filings on a similar timeline. Ask our team for a timeline based on your structure.
Pricing
| Plan | Price | Scope |
|---|---|---|
| Standard SPV | $9,950 one-time | Up to 35 investors, 1 close, 1 VC asset, 5 year term |
| Premium SPV | $19,500 one-time | Up to 50 investors, multiple closes (1 included), any asset type |
| Fund | $19,500/year | Up to 249 VC or 99 non-VC investors, unlimited closes, 30 assets |
| Platform carry | 0% | Managers keep their carry |
Extras: +$100 per additional investor, $2,000 per extra close, $2,500 per tranched capital call. Blue sky filing fees pass through at cost. K-1 preparation is available as an add-on. Full schedule on /fees.
Frequently asked questions
How much does it cost to form a fund with Allocations?
The Fund plan is $19,500 per year and covers formation and administration for up to 249 VC or 99 non-VC investors, unlimited closes and 30 assets.
How long does fund formation take?
Setup on Allocations starts online in minutes. Law firms commonly cite about 6 to 10 weeks from engagement to a first close for a standard US venture fund, longer for offshore structures. Form D is due within 15 days of the first sale.
506(b) or 506(c)?
Both are Regulation D exemptions. 506(b) prohibits general solicitation; 506(c) allows it but requires verifying every investor is accredited. Decide with your securities counsel; Allocations handles the Reg D filing.
Do I need a lawyer?
Allocations provides vetted document templates. Many GPs still use their own counsel for strategy-specific terms; that choice is yours.
Can I start with SPVs and move to a fund later?
Yes. Many emerging managers run SPVs first and stand up a fund on the same platform.
Do you help with investment adviser registration?
No. Allocations does not provide adviser registration services. Speak with your counsel about your regulatory status.
Timeline sources: Astraea Counsel, fund formation FAQ; NAIM Law, fund formation FAQ; SEC.gov, Filing a Form D notice. Industry estimates, not an Allocations guarantee.
Form your first fund
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