Attorney engagement process for setting up fund

Updated by Sanjay Vora

Avestor has partnered with multiple legal firms that specialize in fund offerings to provide a turn-key solution for setting up a private fund to utilize with Avestor’s platform.  Below is a summary of the services provided by our attorney network as part of fund setup. The service level agreement with the attorney will provide the final details on their services.  All fees will be paid directly by the sponsor to the attorney retained.

Avestor Inc. does not receive any referral fees or compensation from the legal firms in our network for providing this service.

The legal package set up includes the following:

  1. Initial meeting to discuss Avestor's business plan & questionnaire
  2.  Entity formation of the Fund and Fund manager LLCs
    1. Filing of formation documents
    2. Providing guidance on acquiring Employer Identification Number (Tax ID)
    3. Registration for the registered agent if necessary
  3. Legal documents include:
    1. Private Placement Memorandum based off Avestor customizable fund template
    2. Fund Operating Agreement based off Avestor customizable fund template
    3. Fund Subscription Agreement based upon Avestor customizable fund template
    4. Management entity operating agreement. Changes to this may be additional charge.
  4. Discussion, advice, communication, emails regarding deal structure, exemptions, or other communication needs
  5. File and Draft SEC Form ID
  6. File and Draft SEC Form D

 

Additional costs:

  • Additional attorney advising time in excess of that outlined above will be charged at an hourly rate.
  • Additional drafts of the PPM in excess of that outlined above will be charged at an hourly rate.
  • Services outside of those listed above will be charged at an hourly rate or a pre-agreed flat rate.
  • If an Exempt Reporting Adviser registration is required, that will be an additional charge.

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