We are often approached by early stage startups who simply want our partners to advise their effort. The duties are relatively light, and often provide an optical benefit for having our partners associated with their company.  

To be clear, the fund would receive the shares (or perhaps warrants). DecileBase seems to be aggressively against this arrangement, but it keeps getting confused and thinks that the fund partners would have separate relationships with the company and personally receive equity. That is not the situation we're looking at.