Can We Double Down on a Company Investment Through Fund II if Already Invested in Fund I?
Can we invest in a company through Fund II if we already invested in it through Fund I and want to double down?
You should offer the LPs in Fund 1 the opportunity to invest first. You will also need LPAC approval if Fund 1 has reserves.
But that becomes a direct investment for the LP, and it won't include a management fee or carry right?
You can offer this opportunity via SPVs and it's common to charge carry in that scenario.