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What Are the Roles in a Deal?

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Written by Dmitry
Updated this week

In every syndicated deal we support, there are three primary roles: the Manager, the Adviser, and the Investors. Each plays a distinct part in the execution and success of the transaction.

— Adviser (Deal Lead)
The Adviser is the person or entity sourcing and leading the deal. This is typically a VC, angel, scout, or operator who brings a vetted opportunity to the table. Advisers are responsible for:

• Presenting the investment (deck, terms, rationale).

• Sharing key diligence and background.

• Setting the carry terms and capital target.

• Optionally committing personal capital to the deal.


Note: Advisers do not take legal or fiduciary responsibility for the Series — that’s handled by the Manager.

— Manager (Us)
We act as the Manager of the master LLC and all its individual Series. Our responsibilities include:

• Forming and maintaining the Series entity for each deal.

• Handling investor onboarding (KYC/AML, accreditation, subscriptions).

• Managing funds (escrow, disbursement, banking).

• Coordinating with issuers and cap table platforms.

• Administering ongoing compliance, tax filings, and distributions.


We ensure the legal and operational foundation is solid so Advisers can focus on sourcing and investors can participate with confidence.

— Investors (LPs in the Series)
Investors subscribe to each deal on a case-by-case basis. They:

• Review the investment materials and terms.

• Sign the Subscription Agreement, Joinder and other relevant documents.

• Fund their commitments via wire, ACH, or crypto (if available).

• Receive K-1s and distributions tied to that specific Series.


Each investor’s exposure is limited to the Series they join — there’s no cross-liability with other deals.

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