# Infra One > Fund formation and administration for VC and PE managers. Available in United States, United Kingdom, Germany, Austria, Cayman Islands. Luxembourg, India, Singapore, ADGM: coming soon. ## Core - [Fund Formation & Administration for Emerging Managers](https://www.infra.one/): Fund formation and administration for VC and PE managers. Available in United States, United Kingdom, Germany, Austria, Cayman Islands. Luxembourg, India, Singapore, ADGM: coming soon. - [Contact](https://www.infra.one/contact): Book a call with the Infra One team to discuss fund formation, pricing, or get a platform walkthrough. - [About Infra One](https://www.infra.one/about): The team building fund infrastructure for emerging managers. - [Backbone — AI-Native Fund Operations](https://www.infra.one/backbone): Essentials: $2.5k/mo. For Solo GPs with <£25M AUM. ~40 hrs/mo included; surge rate +£75/hr. Professional: $7.7k/mo. For Growing funds with £25-100M. ~120 hrs/mo included; surge rate +£65/hr. Enterprise: $15k/mo. For Multi-GP with £100M+ AUM. ~250 hrs/mo included; surge rate +£55/hr. ## Investment Vehicles - [Venture Capital & PE Fund Management](https://www.infra.one/vehicles/fund): Fund formation and administration for VC and PE managers. Available in United States, United Kingdom, Germany, Austria, Cayman Islands. Luxembourg, India, Singapore, ADGM: coming soon. - [Special Purpose Vehicles (SPVs)](https://www.infra.one/vehicles/spv): Special Purpose Vehicles for single-asset and multi-asset deals with investor onboarding, integrated banking, tax coordination, and administration. Contact us to confirm pricing and availability. - [Roll-Up Vehicles (RUVs)](https://www.infra.one/vehicles/rollup): Roll-Up Vehicles consolidate investors into one cap table entry. Contact us to confirm pricing and availability. - [Feeder Fund Structures](https://www.infra.one/vehicles/feeder): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. ## Alpha Protocol & Financial Products - [Alpha Protocol — Financial Products for GPs](https://www.infra.one/alpha-protocol): A suite of financial products for the GP lifecycle: Time Machine, GP 1 Seed, and GP 1 Commit. - [Time Machine](https://www.infra.one/time-machine): A single, transparent fixed fee of $30,000 per deal for each Alpha Protocol deal. No hidden terms, no complexity. - [GP 1 Seed](https://www.infra.one/gp1-seed): Working capital via the Standardized Manager Seed Note. Revenue share of 15-25% of management fees until 1.0x - 1.5x principal is returned; 10-15% of Fund I carry; converts to 5-10% ManCo equity at $250M AUM or Fund III close. - [GP 1 Commit](https://www.infra.one/gp1-commit): Non-recourse GP commitment financing in USD, EUR, GBP (SGD and INR on request). Base + 6-9% over SOFR (USD), Euribor (EUR), or SONIA (GBP). Max 60% LTV on LP interest NAV. 3-5 year tenor with distributions-based repayment. ## Legal - [Privacy Policy](https://www.infra.one/privacy-policy): How Infra One handles your data, including collection, processing, retention, and rights under GDPR. - [Legal Notice (Impressum)](https://www.infra.one/legal-notice): Legal notice and corporate information for Infra One GmbH, Vienna. ## Careers - [Careers at Infra One](https://www.infra.one/careers): Join the team building the infrastructure layer for emerging fund managers. ## Management Features - [Multiples](https://www.infra.one/management/multiples): Upload PDF reports and automatically convert data into interactive graphs and charts. ## Products - [All products](https://www.infra.one/products) - [Operator](https://www.infra.one/products/operator): Operator does the back-office work on your record, with your approval, from the app, the terminal or your own agent. - [Operator: Plans](https://www.infra.one/products/operator/plans) - [Operator: Approvals](https://www.infra.one/products/operator/approvals) - [Operator: Tools](https://www.infra.one/products/operator/tools) - [Operator: CLI & MCP](https://www.infra.one/products/operator/cli) - [Automations](https://www.infra.one/products/automations): Turn product events and signed webhooks into durable actions. - [Import](https://www.infra.one/products/import): CSV imports with reviewed column mapping and live progress. - [Workspace governance](https://www.infra.one/products/workspace-governance): Govern Google Workspace drives, groups and grants, and audit drift. - [Venture](https://www.infra.one/products/venture): Run funds, SPVs and direct deals, and the investors around them. - [Contacts](https://www.infra.one/products/contacts): One CRM for founders, LPs, partners and the organizations around them. - [Data rooms](https://www.infra.one/products/data-rooms): Share due-diligence material in controlled, curated spaces. - [Ledger](https://www.infra.one/products/ledger): Books, journal entries, period close and financial reporting per entity. - [Forms](https://www.infra.one/products/forms): Build forms and collect responses that flow into the rest of Infra One. - [Expenses](https://www.infra.one/products/expenses): Track and manage fund and organization expenses. - [Signatures](https://www.infra.one/products/signatures): Prepare agreements, route signers and track every signature. - [Dealflow](https://www.infra.one/products/dealflow): Run your pipeline from first contact to investment decision. - [Handover](https://www.infra.one/products/handover): Inventory, classify and check a fund’s documents straight from Google Drive. - [Resolutions](https://www.infra.one/products/resolutions): Create and vote on fund resolutions and governance decisions. - [Entities](https://www.infra.one/products/entities): One register for funds, SPVs, GPs, carry vehicles and management companies. - [Profiles](https://www.infra.one/products/profiles): Searchable, shared and enriched profiles of companies, people and funds. - [Insights](https://www.infra.one/products/insights): Periodic reporting, valuations and look-through analysis in one workspace. - [Explorer](https://www.infra.one/products/explorer): Discover funds, open their portfolios and trade secondaries. - [Signals](https://www.infra.one/products/signals): Shared fund-reference data alongside your own datasets. - [Agents](https://www.infra.one/products/agents): AI agents that talk to your visitors and work alongside your team. - [Messenger](https://www.infra.one/products/messenger): Direct, group, AI and support conversations in one inbox. - [Conversations](https://www.infra.one/products/conversations): Meeting transcripts, summaries and action items, with access control. - [Relay](https://www.infra.one/products/relay): Shared email and your own WhatsApp, side by side. - [Meet](https://www.infra.one/products/meet): Discover the right people and continue the conversation in Messenger. - [Events](https://www.infra.one/products/events): Host events with RSVPs, ticketing and invitations. - [Hiring](https://www.infra.one/products/hiring): Post venture roles and review applicants in one place. ## Services - [Fund Accounting & Reporting](https://www.infra.one/services/fund-accounting) - [Fund Administration (Overview)](https://www.infra.one/services/fund-administration) - [Fund Set-Up & Formation](https://www.infra.one/services/fund-setup) - [Investor Services](https://www.infra.one/services/investor-services) - [Tax & Compliance](https://www.infra.one/services/tax-and-compliance) ## Pricing by Jurisdiction — Fund - [Fund Pricing — United States](https://www.infra.one/pricing/vc-fund/us): Venture capital fund formation and administration. The annual fee is 10 bps on actual committed capital, with a combined annual minimum of $30,000. There is no fund-size ceiling. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [Fund Pricing — United Kingdom](https://www.infra.one/pricing/vc-fund/uk): Hosted venture capital fund. Funds with a signed size up to and including £5m pay £35,000 a year. Above £5m through £100m, the annual fee is £35,000 plus 12 bps through £50m, then 6 bps above £50m on the whole committed capital. Above £100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [Fund Pricing — Germany](https://www.infra.one/pricing/vc-fund/germany): Hosted venture capital fund. Funds with a signed size up to and including €5m pay €35,000 a year. Above €5m through €100m, the annual fee is €35,000 plus 12 bps through €50m, then 6 bps above €50m on the whole committed capital. Above €100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [Fund Pricing — Austria](https://www.infra.one/pricing/vc-fund/austria): Hosted venture capital fund. Funds with a signed size up to and including €5m pay €35,000 a year. Above €5m through €100m, the annual fee is €35,000 plus 12 bps through €50m, then 6 bps above €50m on the whole committed capital. Above €100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [Fund Pricing — Cayman Islands](https://www.infra.one/pricing/vc-fund/cayman): Starter: $3.5k base fee + 0.75% of fund AUM, charged annually. Best for funds under 2M. Growth: $20k base fee + 0.2% of fund AUM, charged annually. Best for funds 2M - 26M. Scale: $20k base fee + 0.15% of fund AUM, charged annually. Best for funds over 26M. - [Fund Pricing — Luxembourg](https://www.infra.one/pricing/vc-fund/luxembourg): Starter: Coming soon (Q4 2026). Best for funds under 2M. Growth: Coming soon (Q4 2026). Best for funds 2M - 26M. Scale: Coming soon (Q4 2026). Best for funds over 26M. - [Fund Pricing — India](https://www.infra.one/pricing/vc-fund/india): India is coming soon. Published amounts are informational and do not imply service is available to launch. Hosted venture capital fund. ₹20 Cr through ₹200 Cr: ₹20.0L a year plus 10 bps on actual committed capital above ₹20 Cr. Above ₹200 Cr through ₹500 Cr: ₹35.0L a year plus 8 bps on actual committed capital above ₹150 Cr. Above ₹500 Cr through ₹2,000 Cr: ₹60.0L a year plus 5 bps on actual committed capital above ₹400 Cr. Indicative pricing — final terms require negotiation. India is coming soon. Published amounts are informational and do not imply service is available to launch. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [Fund Pricing — Singapore](https://www.infra.one/pricing/vc-fund/singapore): Starter: Coming soon. Best for funds under 2M. Growth: Coming soon. Best for funds 2M - 26M. Scale: Coming soon. Best for funds over 26M. - [Fund Pricing — ADGM](https://www.infra.one/pricing/vc-fund/adgm): Starter: Coming soon. Best for funds under 2M. Growth: Coming soon. Best for funds 2M - 26M. Scale: Coming soon. Best for funds over 26M. ## Pricing by Jurisdiction — PE Fund - [PE Fund Pricing — United States](https://www.infra.one/pricing/pe-fund/us): Private equity fund formation and administration. The annual fee is 10 bps on actual committed capital, with a combined annual minimum of $30,000. There is no fund-size ceiling. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [PE Fund Pricing — United Kingdom](https://www.infra.one/pricing/pe-fund/uk): Hosted private equity fund. Funds with a signed size up to and including £5m pay £35,000 a year. Above £5m through £100m, the annual fee is £35,000 plus 12 bps through £50m, then 6 bps above £50m on the whole committed capital. Above £100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [PE Fund Pricing — Germany](https://www.infra.one/pricing/pe-fund/germany): Hosted private equity fund. Funds with a signed size up to and including €5m pay €35,000 a year. Above €5m through €100m, the annual fee is €35,000 plus 12 bps through €50m, then 6 bps above €50m on the whole committed capital. Above €100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [PE Fund Pricing — Austria](https://www.infra.one/pricing/pe-fund/austria): Hosted private equity fund. Funds with a signed size up to and including €5m pay €35,000 a year. Above €5m through €100m, the annual fee is €35,000 plus 12 bps through €50m, then 6 bps above €50m on the whole committed capital. Above €100m: custom pricing. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [PE Fund Pricing — Cayman Islands](https://www.infra.one/pricing/pe-fund/cayman): Emerging: $25k base fee + 0.25% of fund AUM, charged annually. Best for funds under 50M. Mid-Market: $45k base fee + 0.12% of fund AUM, charged annually. Best for funds 50M - 250M. Institutional: $60k base fee + 0.08% of fund AUM, charged annually. Best for funds over 250M. - [PE Fund Pricing — Luxembourg](https://www.infra.one/pricing/pe-fund/luxembourg): Emerging: Coming soon (Q4 2026). Best for funds under 50M. Mid-Market: Coming soon (Q4 2026). Best for funds 50M - 250M. Institutional: Coming soon (Q4 2026). Best for funds over 250M. - [PE Fund Pricing — India](https://www.infra.one/pricing/pe-fund/india): India is coming soon. Published amounts are informational and do not imply service is available to launch. Hosted private equity fund. ₹20 Cr through ₹200 Cr: ₹20.0L a year plus 10 bps on actual committed capital above ₹20 Cr. Above ₹200 Cr through ₹500 Cr: ₹35.0L a year plus 8 bps on actual committed capital above ₹150 Cr. Above ₹500 Cr through ₹2,000 Cr: ₹60.0L a year plus 5 bps on actual committed capital above ₹400 Cr. Indicative pricing — final terms require negotiation. India is coming soon. Published amounts are informational and do not imply service is available to launch. Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund. - [PE Fund Pricing — Singapore](https://www.infra.one/pricing/pe-fund/singapore): Emerging: Coming soon. Best for funds under 50M. Mid-Market: Coming soon. Best for funds 50M - 250M. Institutional: Coming soon. Best for funds over 250M. - [PE Fund Pricing — ADGM](https://www.infra.one/pricing/pe-fund/adgm): Emerging: Coming soon. Best for funds under 50M. Mid-Market: Coming soon. Best for funds 50M - 250M. Institutional: Coming soon. Best for funds over 250M. ## Pricing by Jurisdiction — SPV - [SPV Pricing — United States](https://www.infra.one/pricing/spv/us): Special Purpose Vehicles for single-asset and multi-asset deals with investor onboarding, integrated banking, tax coordination, and administration. Contact us to confirm pricing and availability. - [SPV Pricing — United Kingdom](https://www.infra.one/pricing/spv/uk): Special Purpose Vehicles for single-asset and multi-asset deals with investor onboarding, integrated banking, tax coordination, and administration. Contact us to confirm pricing and availability. - [SPV Pricing — Cayman Islands](https://www.infra.one/pricing/spv/cayman): Special Purpose Vehicles for single-asset and multi-asset deals with investor onboarding, integrated banking, tax coordination, and administration. Contact us to confirm pricing and availability. ## Pricing by Jurisdiction — Rollup - [Rollup Pricing — United States](https://www.infra.one/pricing/rollup/us): Roll-Up Vehicles consolidate investors into one cap table entry. Contact us to confirm pricing and availability. - [Rollup Pricing — Cayman Islands](https://www.infra.one/pricing/rollup/cayman): Roll-Up Vehicles consolidate investors into one cap table entry. Contact us to confirm pricing and availability. ## Pricing by Jurisdiction — Feeder - [Feeder Pricing — United States](https://www.infra.one/pricing/feeder/us): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. - [Feeder Pricing — United Kingdom](https://www.infra.one/pricing/feeder/uk): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. - [Feeder Pricing — Luxembourg](https://www.infra.one/pricing/feeder/luxembourg): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. - [Feeder Pricing — Singapore](https://www.infra.one/pricing/feeder/singapore): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. - [Feeder Pricing — Cayman Islands](https://www.infra.one/pricing/feeder/cayman): Feeder structures channel capital into a master fund. Contact us to confirm pricing and availability. ## Insights - [All Insights](https://www.infra.one/insights/all): Articles and analysis on fund operations, regulation, and emerging manager strategy. - [PFICs in International Venture Funds of Funds: A Guide for US Taxable Investors](https://www.infra.one/insights/pfics-international-venture-funds-of-funds-us-taxable-investors): What US taxable investors in international venture funds of funds need to know about PFIC exposure, reporting and their options. - [DFDF, emerging managers, and the making of Dubai's venture market](https://www.infra.one/insights/dfdf-dubai-venture-market-emerging-managers): How the [Dubai Future District Fund](https://dfdf.vc/) anchors emerging managers, signals to private capital, and aims to turn Dubai into a net exporter of venture — in conversation with MD Nader AlBastaki and the DFDF investment team. - [Employee investment vehicles in ADGM: how to structure co-investment without triggering fund regulation](https://www.infra.one/insights/adgm-employee-investment-vehicles-co-investment): ADGM is proposing to exempt properly structured employee investment vehicles from fund licensing and minimum subscription rules. The details matter — one ineligible participant can blow up the entire structure. - [Austrian tax treatment of PE funds and carried interest: what GPs need to know](https://www.infra.one/insights/austria-tax-treatment-pe-carried-interest): Austria taxes carried interest at 27.5% as capital income — if you structure it correctly. Get the carry vehicle wrong and you are looking at progressive rates up to 55%. Here is how the rules work. - [Luxembourg's new carried interest regime: attracting investment talent](https://www.infra.one/insights/luxembourg-carried-interest-regime): Luxembourg adopted a modernised carried interest tax framework in January 2026. For emerging managers building teams in the Grand Duchy, the numbers finally make sense. - [Fund administration and operational setup in Singapore: a practical guide for emerging managers](https://www.infra.one/insights/singapore-fund-administration-operational-setup): Setting up fund operations in Singapore involves more moving parts than most first-time managers expect. Here is what you need, what it costs, and the sequence that works. - [AML, beneficial ownership, and ongoing compliance for Cayman fund managers](https://www.infra.one/insights/cayman-aml-beneficial-ownership-compliance): Cayman fund regulation goes well beyond the initial CIMA registration. AML procedures, beneficial ownership transparency, FATCA/CRS, and economic substance all require ongoing attention. - [AIFMD II loan origination rules in Germany: what fund managers need to know](https://www.infra.one/insights/germany-aifmd-ii-loan-origination): Germany's implementation of AIFMD II opens real loan origination opportunities for alternative funds — but with strict compliance requirements, even for sub-threshold managers. - [SEBI's pro-rata rights circular: what the December 2024 fairness framework means for your fund](https://www.infra.one/insights/india-fairness-pro-rata-rights-framework): SEBI now requires all AIF investors to receive fair, pro-rata treatment on undrawn commitments. This changes how you draft your PPM, manage capital calls, and handle side letters. - [Delaware tax treatment for foreign LPs: what fund managers need to get right](https://www.infra.one/insights/us-delaware-tax-foreign-investors): Foreign investors in US venture funds face a multi-part tax regime. Getting the withholding and structuring wrong costs your LPs real money. - [ADGM's 2025 reform proposals: what Sub-Threshold and Institutional Fund Manager mean for your first fund](https://www.infra.one/insights/adgm-regulatory-reforms-smaller-managers): The FSRA proposed two new fund manager categories in late 2025: Sub-Threshold for managers under $200M, and Institutional for those targeting $5M+ tickets. Here is what changes and why it matters. - [Austrian depositary bank requirements: what fund managers need in place from day one](https://www.infra.one/insights/austria-depositary-bank-requirements): Austrian law mandates a depositary for licensed AIFMs, and even registered managers face pressure to appoint one. Here is how the depositary requirement works, what it costs, and how to structure it. - [AIFMD II liquidity management tools: the April 2026 implementation](https://www.infra.one/insights/luxembourg-aifmd-ii-liquidity-management-2026): Luxembourg's AIFMD II transposition is live. If you run an open-ended alternative fund, you now need at least two liquidity management tools in your fund documents — and closed-end managers should pay attention too. - [Regulatory developments in Singapore fund management: what changed in 2024-2025 and what is coming](https://www.infra.one/insights/singapore-regulatory-developments-compliance): MAS has been busy. From the RFMC phase-out to new VCC governance expectations and tighter AML rules, here is what Singapore fund managers need to act on now. - [The Mansion House Accord: how emerging managers can access UK pension capital](https://www.infra.one/insights/uk-pension-funds-mansion-house-accord): Seventeen pension providers have pledged to put 10% of DC assets into private markets by 2030. That is roughly GBP 50 billion looking for a home. Here is how to position your fund. - [Carried interest structuring in Cayman funds: what emerging managers get wrong](https://www.infra.one/insights/cayman-carried-interest-structuring): The '2 and 20' model is no longer the default. Here is how carry actually works in modern Cayman fund structures, and the tax traps that first-time managers miss. - [Germany's fair market value threshold: what growing fund managers must prepare for now](https://www.infra.one/insights/germany-fair-market-value-threshold): A pending German law will switch the AIFM threshold calculation from acquisition cost to fair market value. Funds with appreciated portfolios could suddenly need full authorisation. - [Tax treatment across India's AIF categories: what your investors will ask](https://www.infra.one/insights/india-tax-regimes-aif-categories): Category I and II get pass-through taxation. Category III does not. That single difference drives investor decisions and should drive your fund structuring. - [Building a compliance program for your first fund: what the SEC actually expects](https://www.infra.one/insights/us-fund-compliance-code-of-ethics): The SEC examines newly formed fund advisers with increased frequency. Here is how to build a compliance program that holds up under scrutiny. - [UAE corporate tax and ADGM funds: how to maintain 0% through Qualifying Free Zone Person status](https://www.infra.one/insights/adgm-uae-corporate-tax-free-zone-status): The UAE's 9% corporate tax does not have to apply to your ADGM fund. Qualifying Free Zone Person status preserves 0% — but the conditions are strict and the compliance is ongoing. - [EuVECA registration in Austria: a faster route to pan-European VC fundraising](https://www.infra.one/insights/austria-euveca-registration-vc-managers): Austrian VC managers can register under the EuVECA framework for simplified cross-border marketing across the EU. The 2018 amendments made it more practical. Here is how it works and where it falls short. - [Launching a fund in Austria: the full process from FMA registration to first close](https://www.infra.one/insights/austria-fund-launch-end-to-end): Austria uses a GmbH & Co. KG fund structure under the AIFMG framework. Here is what the end-to-end launch process looks like when you work with a fund services provider. - [Launching a Cayman fund end-to-end: from CIMA registration to ongoing operations](https://www.infra.one/insights/cayman-fund-launch-end-to-end): What the full process actually looks like when you work with a fund services provider — formation, CIMA registration, investor onboarding, first close, and ongoing compliance. - [Setting up a fund in France: AMF registration, fund structures, and what the SLP changes](https://www.infra.one/insights/france-amf-registration-fund-structures): France offers emerging managers a streamlined path through sub-threshold registration and professional fund vehicles like the FPCI and SLP. Here is how the system works and where it gets complicated. - [Carried interest in German funds: how GP compensation actually works in a GmbH & Co. KG](https://www.infra.one/insights/germany-carried-interest-gp-compensation): Germany taxes carried interest at an effective rate of about 28.5% — if you get the structure right. Most first-time managers do not. Here is what the qualified carry regime requires and where it breaks down. - [German withholding tax on fund distributions: what foreign LPs need to know](https://www.infra.one/insights/germany-withholding-tax-foreign-lps): If your German fund has international investors, withholding tax on distributions is not optional. The base rate is 26.375%, treaty relief can bring it down significantly, but only if you apply for it correctly and on time. - [Launching an AIF in India: what the process looks like from SEBI registration to first drawdown](https://www.infra.one/insights/india-aif-launch-end-to-end): India's AIF framework under SEBI has specific requirements around categories, trust structures, and merchant banker due diligence. Here is what the end-to-end launch looks like. - [Launching a RAIF in Luxembourg: timeline, costs, and what we handle](https://www.infra.one/insights/luxembourg-raif-launch-end-to-end): The Reserved Alternative Investment Fund has become the default Luxembourg vehicle for emerging managers. Here is what the launch process looks like end to end — from AIFM appointment to first close — and how the work is divided between the manager and the fund services team. - [Tax election strategy: SICAR-like vs. SIF-like RAIFs and the subscription tax](https://www.infra.one/insights/luxembourg-tax-election-sicar-sif-raif): Luxembourg RAIFs let you choose your tax regime at formation. Pick wrong and you either overpay or lock yourself into a structure that does not fit your strategy. - [Fund manager registration in Poland: the ASI structure and what the KNF process looks like](https://www.infra.one/insights/poland-asi-fund-structure-knf-registration): Poland's ASI vehicle and simplified ZASI registration give emerging managers a fast, low-cost path to launching a fund. Here is how the system works and what to watch out for. - [Section 13O vs 13U in Singapore: picking the right tax exemption for your fund](https://www.infra.one/insights/singapore-13o-vs-13u-tax-exemption): Both schemes exempt fund income from Singapore's 17% corporate tax. But they target different fund sizes, impose different substance requirements, and the January 2025 changes make the choice harder to get right. - [Setting up a family office fund structure in Singapore: what you actually need](https://www.infra.one/insights/singapore-family-office-fund-structure): Singapore has over 1,400 single-family offices now. The tax incentives are real, but so are the substance requirements, staffing mandates, and ongoing compliance. Here is how the structure actually works. - [Investor classification and marketing compliance in Singapore: what fund managers need to know](https://www.infra.one/insights/singapore-investor-classification-marketing): Singapore's investor classification system determines who you can raise from and how you can market your fund. Get the details wrong and you trigger prospectus registration. - [Launching a VC fund in the UK: the full process from FCA registration to first close](https://www.infra.one/insights/uk-fund-launch-end-to-end): What the end-to-end fund launch process actually looks like in the UK — from picking a regulatory pathway and forming your LP, through FCA registration, investor onboarding, and first close. Here is what we handle and what you need to do yourself. - [Long-Term Asset Funds: the UK's new structure for private market access](https://www.infra.one/insights/uk-long-term-asset-funds-ltaf): The LTAF is the UK's answer to getting pension and retail capital into private markets. For emerging managers, it opens doors that limited partnerships cannot. - [Carried interest taxation under Section 1061: what fund managers need to plan for](https://www.infra.one/insights/us-carried-interest-section-1061): The three-year holding period for carried interest catches many first-time managers off guard. Here is how Section 1061 works, where the structuring traps are, and what to get right before your first close. - [ERISA plan assets: when accepting pension money changes everything about your fund](https://www.infra.one/insights/us-erisa-plan-assets-pension-capital): Taking capital from US pension plans and IRAs can trigger ERISA's fiduciary rules across your entire fund. Here is how the 25% test works, what the VCOC exception requires, and how to structure around the exposure. - [Form PF after the 2024 overhaul: what private fund advisers actually need to file](https://www.infra.one/insights/us-form-pf-reporting-requirements): The SEC rewrote Form PF in 2024 and extended the compliance deadline to October 2026. Here is who has to file, what changed, and how to avoid the enforcement actions that hit seven advisers last year. - [CIMA registration and ongoing compliance: what Cayman fund managers actually deal with](https://www.infra.one/insights/cayman-cima-registration-compliance): Registering a Cayman fund with CIMA is fast. Staying compliant year after year is the part that catches managers off guard. Here is the full picture. - [Semi-professional investors in Germany: the middle category that changes your fundraise](https://www.infra.one/insights/germany-semi-professional-investors): Germany has a unique investor class between retail and professional. If you understand the EUR 200,000 semi-professional threshold, your addressable LP pool gets much larger. - [India's accredited investor framework: how it changes your fundraising math](https://www.infra.one/insights/india-accredited-investor-framework): Accredited investors can commit as little as INR 25 lakhs to your AIF instead of the standard INR 1 crore minimum. That difference reshapes who you can raise from and how. - [Your LPA is your fund's operating system: getting private fund documentation right](https://www.infra.one/insights/us-private-fund-documentation-lpa): The Limited Partnership Agreement is not a formality. It governs every dollar that flows through your fund for 10+ years. Here is what to get right the first time. - [ADGM service provider requirements: who you must appoint and why local nexus matters](https://www.infra.one/insights/adgm-service-provider-appointments-nexus): ADGM mandates specific service provider appointments for every fund — fund administrator, custodian, and corporate service provider. New proposals tighten local nexus requirements further. - [Marketing AIFs to retail investors in Austria: the Article 49 pathway](https://www.infra.one/insights/austria-marketing-retail-investors): Austria is one of the few EU countries that lets you market alternative funds to retail investors. The Article 49 AIFMG process is specific, fee-heavy, and worth understanding before you commit. - [The 'well-informed investor' standard: Luxembourg's EUR 125,000 gateway](https://www.infra.one/insights/luxembourg-well-informed-investor-standard): Luxembourg's alternative funds are not open to everyone. The well-informed investor standard sets a EUR 125,000 minimum — but there are workarounds that every emerging manager should know. - [Singapore's tax incentive framework for funds: Section 13O, 13U, 13H, and 13R explained](https://www.infra.one/insights/singapore-tax-incentive-framework-funds): Singapore offers some of the most attractive fund tax incentives in Asia. The 2025 updates made them better for VC and PE managers, but the details matter. - [SEIS, EIS, and VCTs: how UK tax reliefs shape venture fundraising](https://www.infra.one/insights/uk-tax-investment-reliefs-seis-eis-vct): UK tax reliefs give your investors 30-50% income tax relief on qualifying investments. If your fund strategy aligns with them, fundraising gets materially easier. - [How Cayman Islands tax neutrality actually works for fund managers](https://www.infra.one/insights/cayman-tax-neutrality-fund-operations): No corporate tax, no capital gains tax, no withholding tax. But tax neutrality does not mean tax-free for your investors. Here is what emerging managers need to understand. - [GmbH & Co. KG: why this structure is the default for German funds](https://www.infra.one/insights/germany-gmbh-co-kg-fund-structure): Nearly every VC and PE fund in Germany uses a GmbH & Co. KG. Here is what the structure actually involves, why it works, and what first-time managers need to get right. - [NISM certification for AIF managers: what changed in June 2025 and what you need to do](https://www.infra.one/insights/india-nism-certification-requirements): SEBI now requires at least one member of your investment team to hold NISM Series-XIX-C or XIX-D certification. If you are launching an AIF, this is not optional. - [Carried interest taxation in the UK: what changes in April 2026 and what it means for your fund](https://www.infra.one/insights/uk-carried-interest-taxation-april-2026): The UK is reclassifying carried interest from capital gains to trading income. If your fund documents are not set up for the new average holding period test, you will pay significantly more tax. - [Accredited investor verification: what emerging fund managers actually need to do](https://www.infra.one/insights/us-accredited-investor-verification): Getting investor accreditation wrong can blow up your fund offering. Here is how the verification framework works and where first-time managers trip up. - [PE fund administration is not VC fund administration. Most platforms pretend it is.](https://www.infra.one/insights/vc-vs-pe-fund-administration-differences): The tech-enabled fund admin industry treats PE as VC with bigger numbers. It is not. Waterfalls, valuations, side letters, reporting - the operational differences are structural, and most platforms paper over them. - [ADGM Category 3C licensing: the fund manager licence and the sub-threshold shortcut](https://www.infra.one/insights/adgm-category-3c-fund-manager-licensing): ADGM's Category 3C licence is the gateway for fund managers in Abu Dhabi. A proposed sub-threshold framework could cut capital requirements and approval times in half for emerging managers. - [ADGM fund classification: Exempt vs. Qualified Investor Funds and what the minimums mean for your raise](https://www.infra.one/insights/adgm-fund-classification-minimum-subscriptions): Choosing between an Exempt Fund and a Qualified Investor Fund in ADGM is not a technicality. The minimum subscription threshold — $50,000 or $500,000 — shapes your investor base, your fundraise, and your admin costs. - [AIFMD II in Austria: what the loan origination rules and liquidity tools mean for your fund](https://www.infra.one/insights/austria-aifmd-ii-loan-origination-2026): Austria's AIFMD II implementation lands in April 2026 with new concentration limits, leverage caps for loan-originating funds, and mandatory liquidity management tools for all open-ended AIFs. Here is what emerging managers need to know. - [AIFMD licensing vs. registration in Austria: which path fits your fund](https://www.infra.one/insights/austria-aifmd-licensing-vs-registration): Austria's AIFMG gives emerging managers a choice between full licensing and simplified registration. The thresholds, obligations, and costs are different enough that the decision shapes your entire fund launch. - [Closed-ended vs open-ended funds in the Cayman Islands: which structure fits your strategy](https://www.infra.one/insights/cayman-closed-ended-vs-open-ended-funds): The Cayman Islands has two distinct regulatory regimes for funds. Picking the wrong one will cost you months and money. Here is how to decide. - [Why the exempted limited partnership dominates Cayman fund formation](https://www.infra.one/insights/cayman-exempted-limited-partnership-structure): Around 90% of Cayman alternative investment funds use the ELP structure. Here is what makes it the default for emerging managers and what you need to know before forming one. - [German partnership tax returns: the filing obligation that catches fund managers off guard](https://www.infra.one/insights/germany-partnership-tax-return-filing): If your fund has two or more German investors, you are required to file an annual partnership tax return in Germany. Most managers find out too late. - [Sub-threshold AIFM registration in Germany: what emerging managers actually need to know](https://www.infra.one/insights/germany-sub-threshold-aifm-registration): Germany lets fund managers operate under a light-touch registration if they stay below the AUM thresholds. Here is how it works, what it costs, and where it breaks down. - [AIF category selection in India: the decision that shapes everything else](https://www.infra.one/insights/india-aif-category-selection-investment-mandate): Category I, II, or III — the AIF category you pick determines your tax treatment, investment restrictions, investor base, and regulatory burden. Get it wrong and you cannot easily switch. - [SEBI AIF registration: what the process actually looks like from the inside](https://www.infra.one/insights/india-sebi-registration-process-documentation): SEBI registration takes 60-90 days if your application is complete. Most first-time managers add months by underestimating the PPM requirements and merchant banker coordination. - [AIFM registration vs. authorisation in Luxembourg: understanding the EUR 100/500 million thresholds](https://www.infra.one/insights/luxembourg-aifm-registration-vs-authorization): Every Luxembourg fund manager must choose between registering as a sub-threshold AIFM or seeking full authorisation. The thresholds are simple, but the consequences of getting it wrong are not. - [RAIF vs. regulated fund structures: choosing the right speed to market in Luxembourg](https://www.infra.one/insights/luxembourg-raif-vs-regulated-fund-structures): Luxembourg gives you three ways to structure an alternative fund. Only one of them lets you skip CSSF approval entirely — and that changes everything for a first-time manager. - [Fund manager licensing in Singapore: choosing between VCFM, A/I LFMC, and RFMC](https://www.infra.one/insights/singapore-fund-manager-licensing-vcfm-lfmc-rfmc): MAS offers three licensing tiers for fund managers. Picking the wrong one costs you time, money, and flexibility. Here is how each actually works. - [The Variable Capital Company: Singapore's purpose-built fund vehicle](https://www.infra.one/insights/singapore-variable-capital-company-vcc): The VCC is now the default structure for new fund launches in Singapore. Here is what it does, what it costs, and why it beats the alternatives for most emerging managers. - [The UK's three-tier AIFM system: picking the right regulatory path for your fund](https://www.infra.one/insights/uk-aifm-three-tier-regulatory-system): The UK runs three distinct AIFM classifications, each with different costs, timelines, and obligations. Most emerging managers only need to care about two of them. - [UK limited partnerships: why they dominate fund structuring and how to set one up](https://www.infra.one/insights/uk-limited-partnerships-fund-structure): The English or Scottish LP is the default structure for UK private capital funds. It has been for over a century. Here is what emerging managers need to know before forming one. - [The UK's RVECA regime: the lighter path to running a regulated VC fund](https://www.infra.one/insights/uk-rveca-regime-emerging-managers): Full AIFM authorisation is not the only path to running a UK venture fund. RVECA registration gets you there faster, cheaper, and with less overhead. - [Delaware LP formation: why it is the default for US venture funds](https://www.infra.one/insights/us-delaware-lp-formation-tax-treatment): Over 70% of US venture funds form in Delaware. Here is what that actually means for your fund structure, tax treatment, and ongoing obligations. - [SEC registration for emerging fund managers: exemptions you need to know](https://www.infra.one/insights/us-sec-registration-private-fund-exemptions): Most first-time fund managers do not need full SEC registration. The exemption framework exists for a reason — here is how to use it properly. - [AI for fund managers — a practical starting point](https://www.infra.one/insights/ai-fund-managers-practical-starting-point): Where AI actually helps a small fund team today, where it is getting useful, and where it is mostly hype. A practical guide from someone building it. - [AMLD6 - the EU's escalating fight against financial crime](https://www.infra.one/insights/amld6-eu-fight-against-financial-crime): The 6th Anti-Money Laundering Directive tightens the screws further. Here is the timeline, what is new, and why emerging managers should pay attention. - [The SPV-to-fund playbook: what the data says about building a track record](https://www.infra.one/insights/building-track-record-single-deal-spvs): SPV formation is up 116% in five years. But not all SPV track records are created equal — here is what LPs actually evaluate and where most emerging managers go wrong. - [DORA - do you need to care about digital operational resilience?](https://www.infra.one/insights/dora-digital-operational-resilience): DORA sounds like a regulation for banks. But it affects your fund administrator, and that means it affects you. Here is what matters. - [The new EU AML rulebook — what it means for your fund](https://www.infra.one/insights/eu-aml-rulebook-what-it-means-for-your-fund): The EU just replaced a patchwork of national AML rules with one uniform rulebook. Here is what changed, when it kicks in, and what you need to do. - [Why European VC still lags the US (and why that's an opportunity)](https://www.infra.one/insights/european-vc-lags-us-why-thats-opportunity): The transatlantic VC gap is real but closing. For European managers who move fast and operate professionally, the structural inefficiencies create outsized opportunity. - [FATCA & CRS - what fund managers actually need to know](https://www.infra.one/insights/fatca-crs-what-fund-managers-need-to-know): Cut through the legalese. Here is what FATCA and CRS mean in practice for your fund: who you report on, what forms you collect, and what happens if you get it wrong. - [Why more funds die from operations than bad investments](https://www.infra.one/insights/fix-fund-operations-before-they-break): A landmark study found that 50% of fund failures stem from operational risk — more than the 38% caused by poor investments. Here is what that means for your fund. - [The fund administrator problem: why only 20% of managers would recommend theirs](https://www.infra.one/insights/how-to-choose-a-fund-administrator): An EY survey found that only one in five asset managers would recommend their fund administrator. Here is what goes wrong, what the red flags look like, and how to avoid the same mistakes. - [Launching a fund in Europe without drowning in regulation](https://www.infra.one/insights/launching-fund-europe-without-drowning-in-regulation): Europe offers lighter regulatory paths for emerging managers. Here is how sub-threshold AIFM, EuVECA, and other frameworks can get you to market faster. - [Private markets are booming — what it means for emerging managers](https://www.infra.one/insights/private-markets-booming-emerging-managers): Companies are staying private longer, LP interest is growing, and the operational bar is rising. Here is how to position yourself in this market. - [Technology in fund operations — what's actually essential](https://www.infra.one/insights/technology-fund-operations-whats-essential): Not all fund tech matters equally. Here is what actually moves the needle for emerging managers — and what is noise. - [When to switch your fund administrator (and how to do it)](https://www.infra.one/insights/when-to-switch-fund-administrator): Five signs it is time to move on, when not to switch, and a practical migration playbook for making the transition without disrupting your fund. ## Insights by Topic - [ADGM Insights](https://www.infra.one/insights/tag/adgm): 6 articles about ADGM. - [Austria Insights](https://www.infra.one/insights/tag/austria): 7 articles about Austria. - [Cayman Insights](https://www.infra.one/insights/tag/cayman): 7 articles about Cayman. - [Emerging Managers Insights](https://www.infra.one/insights/tag/emerging-managers): 1 articles about Emerging Managers. - [France Insights](https://www.infra.one/insights/tag/france): 1 articles about France. - [Germany Insights](https://www.infra.one/insights/tag/germany): 8 articles about Germany. - [India Insights](https://www.infra.one/insights/tag/india): 7 articles about India. - [Luxembourg Insights](https://www.infra.one/insights/tag/luxembourg): 7 articles about Luxembourg. - [Poland Insights](https://www.infra.one/insights/tag/poland): 1 articles about Poland. - [Singapore Insights](https://www.infra.one/insights/tag/singapore): 8 articles about Singapore. - [Sovereign Capital Insights](https://www.infra.one/insights/tag/sovereign-capital): 1 articles about Sovereign Capital. - [UAE Insights](https://www.infra.one/insights/tag/uae): 1 articles about UAE. - [UK Insights](https://www.infra.one/insights/tag/uk): 8 articles about UK. - [US Insights](https://www.infra.one/insights/tag/us): 10 articles about US. ## Case Studies - [All Case Studies](https://www.infra.one/case-studies/all): Real-world examples of how emerging managers launched and scaled with Infra One. - [From spreadsheets to thirty funds — how Allocator One runs a global anchor platform on Infra One](https://www.infra.one/case-studies/allocator-one-anchor-investor-full-stack): In 2023, Allocator One managed fund operations in Excel. Two years later, it anchors 30+ funds across nine jurisdictions, screens 800 managers a year, and deploys over €125 million — all on Infra One infrastructure. - [From lab to reality — one founder, one fund, zero bureaucracy](https://www.infra.one/case-studies/1921-vc-solo-gp-deep-tech): How 1921 VC launched a solo GP deep-tech fund and achieved 3× performance in year one, without getting lost in administration. ## Playbooks - [Playbooks](https://www.infra.one/playbooks): Recurring fund work, run end to end: you approve, Infra One does the rest. Ready-made workflows for GPs and fund admins, from fundraising to wind-down. - [Answer a due diligence questionnaire](https://www.infra.one/playbooks/ddq-response): An institutional prospect’s DDQ comes back answered from your own documents, every answer cited, reviewed by compliance and shared through your data room. - [Co-investment offer to LPs](https://www.infra.one/playbooks/co-investment-offer): The rest of a deal goes to the LPs with the right or the wish to co-invest, each with an allocation and a deadline, and every yes goes into onboarding. - [Follow up after an LP meeting](https://www.infra.one/playbooks/lp-meeting-follow-up): After a call with a prospective LP, every promise is an action item, the materials sit behind one link, and the follow-up waits in your drafts. - [Invite existing LPs into the next fund](https://www.infra.one/playbooks/next-fund-re-up): LPs from your earlier funds and SPVs get a personal re-up approach with a suggested ticket, and the ones who say yes get their invitation to the new fund. - [Run the first close](https://www.infra.one/playbooks/first-close): On the date you set, every LP on the closing list is onboarded and admitted, the first call is out and LPs have the closing announcement. - [Set up a deal SPV](https://www.infra.one/playbooks/spv-setup): From a deal you want to syndicate to a submitted SPV with its investment link, its deal room and investor onboarding ready to release. - [Test syndicate demand before an SPV](https://www.infra.one/playbooks/syndicate-demand-poll): Before you take an allocation, you know how much your syndicate will put in, you make the call, and on a go the SPV setup starts by itself. - [Triage inbound LP interest](https://www.infra.one/playbooks/inbound-interest-triage): Every pending data room and Explorer request gets your decision in one batch, with a fit note per requester, and only the prospects you approve enter your CRM, enriched. - [Turn a verbal yes into a subscription](https://www.infra.one/playbooks/verbal-yes-to-subscription): The moment a prospect’s deal reaches Committed, they get an invitation with the agreed ticket, and onboarding runs to admission without anyone remembering to send it. - [Weekly fundraising review](https://www.infra.one/playbooks/weekly-fundraising-review): One brief each week: where the raise stands, who moved, who stalled, and a next action per LP that lands as a task for its owner. - [Chase LPs stuck in onboarding](https://www.infra.one/playbooks/onboarding-chase): Every LP who has stalled in onboarding gets the one nudge that fits their open step, and anyone still stuck after two rounds lands on your call list. - [Check subscriptions before countersign](https://www.infra.one/playbooks/subscription-qc): Each subscription is checked against its invitation the moment the LP signs, so you only countersign clean files and defective ones go back with exactly what to fix. - [LPA obligations register](https://www.infra.one/playbooks/lpa-obligations-register): The terms your fund runs on are read out of the LPA and every side letter, checked against their clauses, and set up in the fund. - [Onboard a client fund](https://www.infra.one/playbooks/client-fund-onboarding): Your fund application becomes a working fund on Infra One: entities attached, books ready, data room linked, your team invited and the LPA’s terms registered. - [Syndicate investor onboarding](https://www.infra.one/playbooks/syndicate-onboarding): Every investor on your list is invited at their ticket and taken through verification, signing and admission, then the SPV closing starts on its own. - [Take over a fund from its old administrator](https://www.infra.one/playbooks/admin-handover): Your fund moves from its previous administrator to Infra One with books that tie to its last statements, and its first quarter close runs on Infra One. - [Work the KYC review queue](https://www.infra.one/playbooks/kyc-review-queue): Every LP waiting on KYC has a complete review file, missing documents are requested the same day, and your compliance officer only has to decide. - [Catch-up call for a late LP](https://www.infra.one/playbooks/late-close-catch-up-call): A new LP at a later close is onboarded, called for what earlier LPs already paid and charged equalization, and the earlier LPs are made whole. - [Chase unpaid capital calls](https://www.infra.one/playbooks/capital-call-chasing): Every LP who missed a call’s due date is reminded, called and, past the cure period, put before counsel. - [Distribute exit proceeds](https://www.infra.one/playbooks/exit-distribution): Exit proceeds go out to LPs on the LPA’s waterfall, recorded, booked and explained to each LP. - [Fix a capital call sent in error](https://www.infra.one/playbooks/capital-call-correction): A wrong call is cancelled, unbooked and reissued correctly, with the LP told why and the money already paid accounted for. - [Match capital call receipts](https://www.infra.one/playbooks/capital-call-receipts): What arrived in the bank is recorded against the right calls and booked, and only the odd cases reach you. - [Plan the next two quarters of calls](https://www.infra.one/playbooks/capital-call-schedule): A two-quarter call calendar with amounts, dates and purposes, saved with its evidence and started on time. - [Quarterly capital call](https://www.infra.one/playbooks/quarterly-capital-call): One request takes a capital call from sizing to sent, paid, booked and chased. - [Quarterly management fee](https://www.infra.one/playbooks/quarterly-management-fee): This quarter’s management fee is checked LP by LP and booked in both the fund and the management company. - [Set up the fee schedule from the LPA](https://www.infra.one/playbooks/fee-schedule-from-lpa): The fund’s fees are read from the LPA, confirmed by counsel and set up to compute and accrue each quarter. - [SPV closing and investment](https://www.infra.one/playbooks/spv-closing): The SPV’s money is called, collected and wired, the investment is recorded, and the syndicate hears it closed. - [Board meeting prep and follow-up](https://www.infra.one/playbooks/board-meeting-prep): You walk into each board meeting with a prep pack, and walk out with its action items as tasks and anything that moves the valuation flagged. - [Diligence kickoff and data room request](https://www.infra.one/playbooks/diligence-kickoff): When a deal enters diligence, the founder gets your questions and an upload link the same day, anything missing is chased, and each reviewer has a task. - [Follow-on and pro-rata decision](https://www.infra.one/playbooks/follow-on-decision): When a portfolio company raises, your IC gets a cited follow-on memo, and an approved follow-on is recorded on the fund at the IC’s amount. - [Investment committee memo and vote](https://www.infra.one/playbooks/ic-memo-and-vote): The deal reaches its IC with a cited memo filed on it, every member’s vote on record and the decision noted on the company. - [New investment closing](https://www.infra.one/playbooks/new-investment-closing): IC approval becomes a closed, booked holding, with every signature, payment fact and executed document in one place. - [Quarterly portfolio company updates](https://www.infra.one/playbooks/quarterly-company-updates): Every portfolio company is asked for its quarterly numbers in one approval and chased once, and you end with a cited table of the quarter’s KPIs and red flags. - [Update a cap table after a round](https://www.infra.one/playbooks/cap-table-after-round): After a portfolio company closes a round, its cap table is current, backed by the round documents, and the fund’s ownership is checked against its own records. - [Weekly dealflow triage](https://www.infra.one/playbooks/weekly-dealflow-triage): Every new deal in the inbox is scored against your thesis, the fits are booked for a first call and the rest are declined, in one sitting. - [Answer LP questions](https://www.infra.one/playbooks/lp-query-desk): The day’s LP emails are sorted and answered from the fund’s own records, with the figures shown, and anything still open after two business days goes to you. - [Budget versus actuals](https://www.infra.one/playbooks/budget-vs-actuals): The partners get a short note on how the management company is tracking against budget, fee income and runway, with the period’s figures saved. - [Correct an LP’s record](https://www.infra.one/playbooks/admin-lp-record-correction): A wrong LP record, from a duplicate subscription to a wrong classification, is diagnosed, fixed with compliance sign-off, checked against the books and explained to the LP. - [Find missing receipts in the inbox](https://www.infra.one/playbooks/missing-receipts): Every cost the management company booked this month ends up with a receipt, found in your mailbox or chased, without a spreadsheet. - [Management company monthly close](https://www.infra.one/playbooks/management-company-monthly-close): Your management company’s month is soft-closed on time, with every entry categorized, the fund’s fee checked in and a short note on burn and cash. - [Monthly expense claims](https://www.infra.one/playbooks/monthly-expense-claims): The month’s expense claims are checked, decided and booked, with missing receipts sent back and the items the fund may bear under the LPA flagged. - [Monthly fund close](https://www.infra.one/playbooks/monthly-fund-close): Your fund’s month is properly closed: every capital call booked, drafts posted, entries categorized and the checklist signed off. - [Collect underlying fund reports](https://www.infra.one/playbooks/underlying-fund-reports): Every underlying manager’s quarterly report is collected, its figures extracted and checked, and sent to the valuer for review, with late managers chased. - [Custom report request](https://www.infra.one/playbooks/custom-report-request): A report Infra One doesn’t produce yet is built, run, checked against the books and sent to whoever asked, then kept as a template for every quarter after. - [Data check before LP reporting](https://www.infra.one/playbooks/admin-data-quality-review): Your LP report is built on data that agrees everywhere: books, cap table, calls and marks. - [Quarter-end close for a client fund](https://www.infra.one/playbooks/admin-quarter-end-close): Your quarter is hard-closed and its NAV frozen, with separate people preparing, reviewing and approving, then locked once the LP report is out. - [Quarterly capital account statements](https://www.infra.one/playbooks/capital-account-statements): Every LP gets their own capital account statement, tied out to the books before it goes, through a private link. - [Quarterly LP report pack](https://www.infra.one/playbooks/quarterly-lp-report-pack): Once the quarter’s books are closed, your LP report is built from them, you sign it off, and it is published to every LP before the LPA deadline. - [Quarterly valuations and NAV](https://www.infra.one/playbooks/quarterly-valuations): Defensible marks for every company, posted to the books, with carry accrued and a signed-off NAV ready for the LP report. - [Side-letter reporting deliverables](https://www.infra.one/playbooks/side-letter-reporting): Each LP whose side letter promises its own reporting gets that deliverable in its format, checked, and privately delivered before its deadline. - [SPV investor update](https://www.infra.one/playbooks/spv-investor-update): When the SPV’s company reports, its investors get a short, accurate update with the new metrics and mark, sent with one approval. - [Annual LP meeting](https://www.infra.one/playbooks/annual-lp-meeting): Your annual meeting is set up, every LP invited and chased, the agenda drafted from the year’s numbers, and the recap written for you. - [LP consent vote](https://www.infra.one/playbooks/lp-consent-vote): Puts one matter to your investors, chases the ones who haven’t voted, and counts the result the way your LPA does. - [Form D and state notices](https://www.infra.one/playbooks/form-d-filing): Within 15 days of the first sale, your filing agent files Form D and the state notices from data Operator assembled, and the receipts are filed with the vehicle. - [Monthly compliance calendar](https://www.infra.one/playbooks/compliance-calendar-month): One list of the next 60 days’ compliance deadlines, each with an owner and a reminder, and every filing sent to your consultant with its receipt on file. - [Quarterly access review](https://www.infra.one/playbooks/workspace-access-review): Drive, Slack and data room access is checked against your policy, the fixes you approve are applied, and a dated record is filed for auditors and LPs. - [Answer the auditor’s requests](https://www.infra.one/playbooks/admin-auditor-requests): Audit fieldwork doesn’t stall on requests: each one gets an answer drafted from the books, reviewed and shared within days. - [Get ready for the year-end audit](https://www.infra.one/playbooks/audit-preparation): The auditor’s request list is complete before fieldwork starts, with one place to find everything. - [Tax pack for the tax adviser](https://www.infra.one/playbooks/tax-pack): Your tax adviser gets a complete pack with a deadline, missing LP tax details are chased, and every LP gets their K-1 on time. - [SPV exit and dissolution](https://www.infra.one/playbooks/spv-dissolution): When the SPV’s company exits, each investor gets their share net of carry and expenses, the books close, and the final return and dissolution go to the right experts. ## Engineering Blog - [Engineering Blog](https://www.infra.one/blog/engineering): Technical articles from the Infra One engineering team. - [An AI agent ran an eleven-PR migration. I mostly asked: what's the status?](https://www.infra.one/blog/engineering/finding-the-groove-with-agentic-engineering): What finding the groove with agentic engineering actually looks like in the trenches - and why we ended up building our own issue and review tooling around it. - [RCL 2.1.1: AI code review has to remember when it was wrong](https://www.infra.one/blog/engineering/ai-code-review-must-remember-when-it-was-wrong): RCL 2.1.1 ends the false-positive treadmill: evidence-backed dismissals are now terminal, and unchanged dismissal-only rounds converge immediately. - [From spreadsheets to systems: how we built Infra One's fund operations platform](https://www.infra.one/blog/engineering/from-spreadsheets-to-systems): The technical story behind replacing Excel-driven fund administration with a real-time platform, and the engineering decisions that shaped it. - [Persistent event handling in Elixir — why we built ObanEvents](https://www.infra.one/blog/engineering/persistent-event-handling-elixir-why-we-built-oban-events): The Elixir ecosystem has several approaches to event-driven architecture. We evaluated them all, found a gap, and built a library to fill it. Here is how ObanEvents compares to the alternatives.