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Accounting & Taxes

What are typical expenses (uses and amounts) for the first year of a new $5MM venture fund?

If the fund draws 3% management fees in the first year of a $5MM fund, the firm has $150k to spend on its functions and salary.  What are the business expenses and how much should we expect to pay for these?
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Some business expenses that are typically paid from management fees include: Laptops & Equipment, Salaries, LP Events, Software, Due Diligence and Travel.

Please review this article on fund expenses: https://govclab.com/2022/11/07/managing-fund-expenses-for-venture-capitalists/ Below is a summary.

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