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Step-by-step process for setting up a UK Club Deal SPV (LLP)
Step-by-step process for setting up a UK Club Deal SPV (LLP)
Ash Eugene avatar
Written by Ash Eugene
Updated over a week ago
  1. You submit the setup form on Vauban. This involves sharing the company's legal name, the round terms and the fundraising deck as well as completing the constitution section of the setup. The constitution section allows you to specify how the SPV will operate.

  2. You will need to onboard a Lead and deal partners (if applicable). This step is to determine who will be receiving the carry and to identify the signatory/signatories for the SPV level documentation.

  3. The Limited Liability Partnership Agreement, SPV Services Agreement.

  4. Once the documents have been signed, Vauban will automatically begin the LLP incorporation process.

  5. Once the LLP has been incorporated, a bank account opening form will be sent to you to complete. Once this has been signed, you can start onboarding investors.

  6. Investors log in (or create an account if they are new to the platform) and confirm how much they are going to invest

  7. Investors sign an Admission Form binding them to the terms of the Limited Liability Partnership Agreement.

  8. Investors complete and submit their KYC application (including personal information, ID, tax ID number)

  9. Investors send their monies to the SPV's dedicated bank account

  10. You will need to sign any share purchase agreement, SAFE, CLA/N etc.

  11. When all the funds are received, Vauban will do a call back with you and then send the funds on to the company

  12. Your investors will be notified that the investment is complete and the deal is closed

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