Roles & People
Fund Administrator
A third-party service provider that handles a fund's accounting, reporting, capital calls, and LP communications.
A fund administrator is an outsourced service provider that manages the back-office operations of a venture fund. Services include NAV calculation, capital call and distribution processing, LP reporting, tax preparation (K-1s), regulatory filings, and AML/KYC compliance. Using a reputable administrator provides LPs comfort that fund operations are handled professionally and independently of the GP.
In Practice
An emerging manager hires a fund administrator at 5-10 basis points of committed capital annually to handle quarterly LP reporting, annual K-1 preparation, capital call notices, and regulatory filings.
Why It Matters
Professional fund administration is increasingly expected by institutional LPs. It provides independent verification of fund operations and frees GPs to focus on investing rather than back-office tasks.
Related Concepts
VentureKit
Ready to launch your fund?