1

Mike, I mentioned to Kelly and maybe Conner that as IL, we didn't have the ability to modify the promoter agreement to include disclosures, etc. How do we, as IPs, get that done with the Fund's investors? Seems that Decile legal could create a standardized form that the IPs could load into their data room for their LPs that could be updated as COIs come about over the years. I would also think there must be a step-wise guide to disclosing to LPs (e.g. an initial then maybe once a year statement / email notice sent)? Maybe that's overkill. Anyway, I have some companies in my pipeline where I have equity interest in them or advisory work in place that have asked for funding. Lastly, is there a template for setting up an LP AC? Guessing that could be as easy as a one-pager referencing the policy and listing the people who agree to be on it.

1 See in Base
0
Best practice is to treat this as a fund counsel / LPA governance issue, not an informal side process.

- If the existing promoter agreement cannot be edited by individual partners, ask Decile Legal / your fund counsel to provide:
- a standard conflict disclosure form
- an LPAC consent template
- an annual conflict update notice

- Practical process:
- disclose known conflicts before the fund invests
- send the disclosure to all affected LPs or the LPAC if your docs permit
- update disclosures when new conflicts arise
- include a brief annual reminder/update in LP reporting

- LPAC:
- usually documented via fund docs or a short consent/appointment letter, but counsel should confirm.

- For storing disclosures, a standard Decile Hub data room can be shared securely with custom permissions:
https://decilehub.com/base/8-hub_support/20425-seeking-secure-method-to-share-data-room-docs-with-lps-on-decile-hub

I
can’t confirm Decile-specific legal templates from the posts provided.

Join VC Lab

VC Lab, the leading venture capital accelerator, empowers new and emerging managers worldwide to close ethical, high-performing funds in under six months. The program provides cutting-edge tools, expert mentorship, and a global network to raise more money in less time. Apply if you want to build a meaningful venture capital firm.
Apply Now