Sydecar Fund+
Fund Administration for the next generation of VCs
End-to-end fund formation and administration with Sydecar's Fund+
Sydecar’s Fund+ combines the stability of a committed capital fund with the flexibility of deal by deal investing. Built on Sydecar’s proprietary infrastructure, Fund+ offers fund managers and investors new ways to collaborate on deals. From automated banking, compliance, contracts, to tax and reporting, Fund+ has all of our core features baked in, and more.
How the Structure Works
Scope of Services
Fund entity creation (self-managed Series LLC structure with a unique vehicle for each fund investment).
Off-the-shelf fund documents, including LLCA, subscription agreements, and compliance documents; drafted by best-in-class venture counsel.
Unique bank account created for your fund with real-time visibility into money movement.
Fully digital investor onboarding and closing process.
Flexible capital calls.
Customizable economics on a per-investor basis, with variable carry, management fees, and support for advanced carry structures (i.e. hurdle rates).
Streamlined compliance checks (KYC, AML, and accreditation).
Automated fund tax preparation and filings (Form 1065 and Schedule K-1s) supported by Sydecar’s General Ledger.
Quarterly or annual financial reporting and optional audit support for preferred partners.
Regulatory filings (Form D, Blue Sky) included.*
Other Considerations
Sydecar’s streamlined fund structure involves two entities as opposed to the three entities required for a traditional venture fund. Sydecar creates the fund entity, while the fund manager is responsible for establishing the manager entity (sometimes referred to as the advisor, GP, or management company). The manager entity receives management fees and carried interest from the fund.
*Blue Sky fees capped at $1,500 and then passed through to investors.
Pricing
The Fund+ admin fee is variable based on your fund's size.
It can either be paid out of the fund itself or paid directly by you as the fund manager."
Micro VC
AUM
Pilot
AUM + $2,000
Emerging Manager
AUM
Ad Hoc Fees
There will be a one-time $5,000 set-up fee for the Master LLC.
Fund deals that include co-investors include a fee of 2% with a minimum of $2,500 and maximum of $8,000.
Deals over the tier limit will be charged at $3,000 per deal, for all tiers other than the Pilot tier, which will charge deals over the tier limit at $1,000 per deal.
There is a $1,000 fee for distributions to fund investors.