Emerging Manager Advisory

Institutional Support for First-Time Fund Managers

Innekto Incorporated provides comprehensive end-to-end advisory to first-time VC and PE fund managers, helping emerging GPs establish an institutional foundation that commands LP confidence.

The Challenge

First-Time Funds Require Institutional Infrastructure

First-time fund managers face a paradox: institutional LPs require evidence of institutional infrastructure before committing capital, yet that infrastructure requires capital to build. Navigating this challenge demands experienced advisors who have seen it from both sides.

Innekto Incorporated's emerging manager practice has supported over 40 first-time and early-stage fund managers through the full lifecycle from fund concept through first close. Our team understands what institutional LPs require to conduct due diligence, what GP economics structures are market-standard, and how to design a fundraising process that minimises time to close.

We work with managers across VC, growth equity, buyout, real assets, and sector-focused strategies, across geographies including GCC, APAC, Europe, and North America.

40+
Emerging Manager Clients Advised
$3.2B+
Aggregate Capital Raised by Clients
12
First Closes Achieved in 2024
18 Months
Average Time from Fund Launch to First Close

Figures represent aggregate firm experience. Individual client outcomes are not guaranteed and will vary based on fund strategy, manager track record, and market conditions.

Services

Comprehensive Emerging Manager Services

01

Fund Structuring & Formation

Legal entity design and domicile selection strategy for fund vehicle, GP entity, and management company. We evaluate Cayman, Delaware, Luxembourg, Dubai DIFC, and Singapore structures based on LP universe, investment mandate, and regulatory requirements.

▸Domicile selection analysis
▸Fund entity structuring
▸GP / Management Co. design
▸Carried interest vehicle
▸Co-investment vehicle design
▸Side pocket provisions
02

GP Economics Design

Design and benchmarking of management fee structure, carried interest terms, hurdle rates, GP commitment, and key man provisions. We ensure economics are competitive with market norms while aligned with LP expectations.

▸Management fee structure
▸Carry mechanics & waterfalls
▸Hurdle rate benchmarking
▸GP commitment strategy
▸Clawback provisions
▸Fee offset policies
03

LP Strategy & Targeting

Development of the target LP universe, outreach prioritisation, and sequencing strategy. We leverage institutional relationships across sovereign funds, endowments, family offices, and fund-of-funds to introduce qualified LPs to the fund.

▸LP universe mapping
▸Anchor LP strategy
▸Lead investor identification
▸Family office outreach
▸Sovereign fund introductions
▸Fund-of-fund relationships
04

Fundraising Materials & Process

End-to-end preparation of fundraising materials including Private Placement Memorandum, investor presentation, data room, and DDQ responses. Process management from first contact to subscription.

▸Private Placement Memorandum
▸LP investor presentation
▸Financial model & pro-formas
▸Data room structuring
▸DDQ response library
▸Subscription documentation
05

Compliance & Governance Design

Design of fund-level governance structures including Limited Partner Advisory Committee (LPAC) composition, conflicts policy, valuation policy, and regulatory registration strategy.

▸LPAC design & charter
▸Conflicts of interest policy
▸Valuation policy
▸Regulatory registration
▸AML / KYC framework
▸Fund administrator selection
06

Operating Model & Infrastructure

Design and implementation of the fund's operational infrastructure including fund administrator, prime brokerage, technology systems, reporting frameworks, and portfolio management tools.

▸Fund administrator selection
▸Compliance officer arrangements
▸Portfolio monitoring system
▸Investor reporting design
▸Back-office infrastructure
▸Annual audit firm selection
LP Perspective

What Institutional LPs Require from First-Time Managers

Track Record
Clearly attributable and verifiable investment history
Returns benchmarked against relevant comparables
Portfolio construction rationale and decision process
Loss ratio and write-down transparency
Co-investment history with institutional LPs
Operations & Infrastructure
Independent fund administration
Big 4 or recognised audit firm
Experienced prime broker / custodian
Formal valuation policy with independent oversight
Compliance officer and AML/KYC infrastructure
Team & Governance
Complementary team with differentiated skills
Clear investment decision-making process
LPAC structure with meaningful representation
Documented succession and key-man provisions
Conflicts of interest policy and disclosure framework
Engagement Models

How We Work With Emerging Managers

Engagement Model

Full Advisory Programme

Comprehensive engagement covering fund formation, GP economics, LP strategy, materials, process management, and operational set-up. For managers requiring end-to-end support from concept to first close.

Typical Duration12–24 months
Fee StructureRetainer + success component
Engagement Model

Materials & Process Only

Focused engagement covering PPM, investor presentation, data room, and fundraising process management for managers who have existing legal counsel and compliance infrastructure.

Typical Duration6–12 months
Fee StructureProject-based + success component
Engagement Model

LP Introduction Programme

Targeted engagement focused on LP universe mapping, relationship facilitation, and investor meeting coordination for managers with complete materials already prepared.

Typical Duration3–6 months
Fee StructureSuccess-based
Begin Your Journey

Speak With Our Emerging Manager Team

We take a limited number of emerging manager engagements each year to ensure adequate senior attention. Contact us to discuss your fund concept and assess fit.

Request a Consultation
Disclaimer

The information presented on this page is intended for institutional counterparties and professional investors only. All references to target returns, yield strategies, and projected outcomes represent forward-looking estimates subject to material market, credit, liquidity, and operational risks. Past performance is not indicative of future results. Nothing herein constitutes an offer to buy or sell securities or investment products.