This section outlines the general process and flow to launch a new OCV Fund.

Fund Entities

• Open Core Ventures (OCV) Fund [#] GP LLC
• Open Core Ventures (OCV) Fund [#] LP

Engage the Legal Team to create fund formation documents and required filings for both fund entities.

For the GP LLC entity, determine and provide:

• Name(s) of General Partner(s)
• Operating agreement terms (if different from standard / market terms)
• Economic assignees and allocations (note if anyone is using a trust or entity name)
• Vesting details

For the LP entity, determine and provide:

• Total committed capital amount
• General Partner (LLC) contribution %
• Limited Partner contribution %
  • Committed capital details of the known limited partners
• Fund life: industry standard 10 years, option to extend for additional 2 years with GP / LP agreement
• Management fee details
• Carry details
• Fund expense details
• Fund reporting (”Books and Records”) details (frequency of audited or unaudited financial statements provided to LPs)

Both fund entities use the same Registered Agent Service and OCV’s primary mailing address.