A PPM for venture SPVs and single-company side-cars

The venture-SPV framework renders a compact PPM: a cover page, suitability notices, a target-company summary, the security being purchased (preferred stock, SAFEs, convertible notes), the SPV's terms (management fee, carry, pass-through mechanics), risk factors focused on the target company and the venture asset class, and subscription mechanics.

Because an SPV's primary risk is the underlying company's risk, the library loads key-person, product-market-fit, fundraising-follow-on, liquidity-timing, and illiquidity risks by default. The document stays short on purpose — typically 30–50 pages — so LPs reviewing the round can make a decision quickly.

Use it for a single-company SPV organized to invest alongside a lead VC in a priced round, a SAFE or note vehicle aggregating small checks into a larger commitment, or a secondary SPV buying existing shares. Also fits small-group syndicates — an angel lead gathering 10–30 LPs into one LP entity.

If the sponsor is running a discretionary multi-company venture fund with a portfolio-construction thesis, the VC-fund framework is the better fit. The two can live side by side — a fund for the discretionary sleeve, SPVs for follow-on concentrations.

The common shape is a Delaware LLC or LP offering LP / Class A interests under Rule 506(c), with a small management fee (1–2% one-time or annual), a carry (typically 10–20%), and no preferred return. Check sizes to the SPV are usually $25K–$250K, total raises $250K–$5M. The wizard supports both 506(b) and 506(c) variants; 506(c) is common when the sponsor is publicly marketing.