LP Value Proposition
Four reasons institutional investors commit.
Full-Spectrum Coverage
Access to 39 investment funds across two vintages through a single manager and a coordinated fund architecture — enabling capital allocation across the entire built environment software stack without single-manager concentration risk.
Institutional Governance
PwC-audited financials, independent third-party fund administration, standing LP Advisory Committees with formal consultation rights, quarterly capital account statements, and ILPA-template reporting.
Aligned Economics
GP principals commit 2% of total fund commitments across every vehicle. American waterfall with clawback distributes carry deal-by-deal, with 30% held in escrow throughout the fund term.
Operator-Led Value Creation
Returns generated through genuine ARR growth, net revenue retention improvement, and EBITDA expansion at portfolio companies — not multiple arbitrage or leverage engineering.
Reporting & Transparency
What LPs receive on a quarterly and annual cadence.
Quarterly
Capital Account Statement
Fund-level and LP-level performance reporting including capital called, contributions, distributions, and unrealized value — following the ILPA template.
Quarterly
Portfolio Company KPIs
ARR, net new ARR, churn, NRR, new logo count, GTM efficiency metrics, and EBITDA margin across every platform company — reconciled to valuation.
Quarterly
Manager Letter
Investment activity, deployment velocity, pipeline update, and market commentary from the CEO and Chief Investment Officer.
Annual
PwC-Audited Financials
Full fund financial statements audited by PwC and delivered within 90 days of fiscal year end.
Annual
Strategic Review
Portfolio company competitive landscape review, tuck-in M&A pipeline progress, exit readiness indicators, and updated hold-period plans.
Annual
ESG Reporting
Portfolio company governance standards, environmental footprint, employee practices, and data security compliance.
LP Onboarding Process
From introduction to first close.
Introduction
Initial conversation with our Investor Relations team on fund objectives, allocation strategy, and mandate fit.
Data Room
Access to the LP data room: PPMs, LPAs, side-letter templates, PwC audits, and quarterly reports for all live vehicles.
Due Diligence
Full DD session in Dallas or virtually — investment team, operations team, compliance, and portfolio performance review.
Subscription
Subscription agreement execution, KYC/AML, and capital commitment. Initial capital call typically 30–60 days from close.