How are new managers launching, closing, and deploying capital in just 36 days?
The early-stage venture capital ecosystem is undergoing a major shift. As the barriers to launching a VC fund remain high, many talented emerging managers are sidelined by long setup times, high legal costs, and the complex requirements of traditional fund structures. Start Fund by Decile Group offers a streamlined alternative: a professionally managed, multi-deal venture fund model built for speed, clarity, and execution.
Start Fund was created to help emerging managers launch quickly, build a track record, and raise capital without being buried in legal paperwork or back-office overhead. It gives investors a path to launch a fund, receive and deploy capital in weeks, not months. With all fund infrastructure and compliance fully handled by Decile Group, Investment Leads can focus on what they do best: raising from LPs and investing in startups.
What Is Start Fund and How Does It Compare?
A Lean, Institutional-Grade Fund Model
Start Fund is a venture capital fund structure managed by Decile Group, where emerging managers operate as Investment Leads under Decile Group’s legal and operational umbrella. It is especially suited for first-time or sub-$10MM funds, where traditional structures are often too slow, complex, or expensive to be practical. Start Fund offers a middle ground between traditional VC funds and SPVs— combining institutional-grade infrastructure and compliance with a streamlined route to first close and early investments.
Start Funds operate under common 2/20 terms, with no upfront legal or formation fees, and a very attainable minimum close threshold of $150K. After signing the Investment Lead Agreement, managers receive full back‑office support, access to Decile Hub, and onboarding by the experienced Decile Group team members— all within just a few days, so managers can start fundraising and deploying capital almost immediately.
More Efficient Than Traditional VC Funds
Compared to a traditional fund, Start Fund dramatically shortens the path to deployment. Traditional funds often require 6–12 months just to reach a first close, and additional time for regulatory approvals, legal entity formation, and operations setup. Start Fund cuts this down to an average of 58 days to close and 90 days to first investment.
Instead of raising millions before making a single investment, Start Fund lets managers prove themselves earlier, with smaller raises and faster activity. This reduces friction for LPs, de-risks early execution, and creates opportunities to build a track record from day one.
More Flexible Than SPVs
Unlike SPVs, which are single-use vehicles tied to individual deals, Start Fund supports multi-deal investing, allowing for portfolio diversification and a stronger foundation for long-term growth. It offers a more streamlined and professional structure, making it easier for managers to establish credibility with LPs.
By enabling serial investing within an institutional-quality framework, Start Fund helps emerging managers build track records, deepen LP relationships, and scale beyond reactive, one-off opportunities— without the administrative burden and limitations typically associated with SPVs.
Timelines: From Set-Up to Investment in One Month
One of Start Fund’s most defining features is speed. The average timelines from Investment Lead Agreement signing are:
18 days to onboarding
37 days to first LP wire
58 days to fund close
90 days to first investment
Reaching the onboarding stage means the fund has already cleared KYC, opened its bank account, and is fully operational— ready to receive capital and begin executing. At this point, the fund is officially launched and can move directly into active fundraising and deployment.
But averages only tell part of the story. The fastest funds have reached onboarding in just 2 days, received their first wire in 5 days, closed in 24 days, and made their first investment within 36 days of signing the agreement. These accelerated examples show what’s possible when managers come prepared and take full advantage of the streamlined Start Fund structure.
Unlike traditional VC funds, which often take 6–12 months to reach similar milestones, Start Fund builds everything in from the start: legal, compliance, operations, and support. Compared to SPVs, which may be quicker to spin up for a single deal, Start Fund offers a multi-deal platform with professional infrastructure, greater scalability, and better long-term positioning for LP relationships.
Fundraising and Deployment: Early Capital, Active Deals
Start Fund enables Investment Leads to move beyond intention and into action— raising capital and making investments within weeks of signing. Within the timelines outlined above, participating funds have shown strong fundraising performance:
Average number of LP wires = 7.3
Largest number of LP wires = 17
Average total capital raised = $233K
Largest total capital raised = $580K
These numbers far exceed what most emerging managers raise during the same timeframe under a traditional fund structure, where legal setup, entity formation, and compliance can delay momentum for months. With Start Fund, capital hits the bank quickly— freeing up fund managers to focus on building a portfolio.
Deployment is equally active. Within the same timelines:
Average number of investments = 3.5
Largest number of investments = 5
Average capital deployed = $137K
Most capital deployed so far = $364K
Average percentage of total capital deployed = 34%
Highest percentage of total capital deployed = 88%
This level of activity highlights the operational readiness of Start Fund. Unlike SPVs, which are limited to a single deal and reset after each transaction, Start Fund offers a platform for multiple investments, making it easier to establish a thesis, build a track record, and maintain continuity with LPs.
Key Takeaways for Emerging Managers
Start Fund is changing how venture capital gets started. It offers speed, structure, and institutional-grade operations— without the delays and complexity of traditional VC funds. For many emerging managers, it represents a more realistic and scalable entry point into the industry.
Here are the key takeaways:
Launch and Fundraise Fast: The average Start Fund receives 7+ LP wires and raises over $230K within the first few weeks— giving Investment Leads fast traction compared to the long ramp-up typical of traditional funds.
Close and Invest Early: The average Start Fund closes within 37 days and deploys capital within 90 days— compared to 6–9 months for traditional funds.
Close With Just $150K: With an attainable close threshold and structured onboarding support, Start Funds make it easier to activate early LP commitments and reach fund close faster.
Streamline the Fund Setup: No need for multiple legal entities or upfront legal fees— Start Fund dramatically simplifies formation and compliance, allowing GPs to focus on execution from day one.
Operate With Institutional Credibility: With Decile Group as the GP and Decile Hub powering operations, Start Fund provides the back-office, compliance, and professionalism LPs expect.
Build a Track Record From Day One: Multi-deal investing, rapid deployment, and strong LP participation allow Investment Leads to grow fast, while setting the foundation for future funds.
Ideal for Sub-$10MM Funds: Start Fund is optimized for leaner fund sizes under $10MM, where cost-efficiency, fast timelines, and professional infrastructure are essential for success.
As the VC landscape evolves, Start Fund offers new managers a faster, smarter path to launch leaner funds, build a real portfolio, and start investing quickly. For those ready to lead with speed and focus, it’s not just a starting point— it’s a competitive edge.
Raising your first fund? VC Lab has helped launch 950+ venture firms, with no fees and no equity taken. The average Start Fund reaches first close in 58 days.
