Fund formation is a strategic decision: jurisdiction, vehicle type, and governance choices shape everything from investor relations to carry treatment. Vircon Legal advises sponsors and managers on the structuring, formation, and lifecycle administration of investment funds — venture capital, private equity, real estate, and digital asset funds — across Turkish and cross-border vehicles.
Our work for fund clients includes:
- Domestic vehicles: venture capital investment funds (VCIF), real estate investment funds, and private equity investment funds registered with the Capital Markets Board
- Offshore structures: Cayman segregated portfolios, Luxembourg SCSp, and Delaware LP feeder structures
- Manager licensing: portfolio management company registration and ongoing compliance
- Fund documentation: internal regulations, prospectus, side letters, and GP-LP agreements (see also our GP-LP Agreements practice)
- Investor onboarding: KYC/AML, subscription agreements, accredited and qualified investor verification
- Lifecycle administration: carry calculation, hurdle rate waterfall, management fee mechanics
- Fund termination and tax planning under Turkish and international frameworks
We work with first-time fund sponsors, established VC/PE shops launching new vehicles, family offices, and corporate venture units. Our integration with investment management, M&A, and data privacy teams means clients receive coordinated advice across the full fund lifecycle from a single firm.
For fund managers preparing for their first close or facing complex side letter negotiations, our VC Due Diligence Checklist and related glossary resources are practical starting points.
How we help
We advise sponsors and managers on fund structures across Turkish and offshore jurisdictions — from SPK-regulated venture and real-estate funds to Cayman, Luxembourg and Delaware vehicles. We cover the full lifecycle, from first close to wind-down.
- Domestic structures: SPK venture capital (GSYF), real-estate and special-purpose funds
- Offshore structures: Cayman segregated portfolios, Luxembourg SCSp, Delaware LP feeders
- Manager licensing: portfolio-management company formation and authorisation
- Fund documents: internal regulation, prospectus, side letters and GP-LP agreements
- Investor onboarding, KYC/AML and lifecycle management (carry, hurdle, fees)
Related practice areas
This connects with our Investment Management, GP-LP Agreements and Special Purpose Vehicles practices.
Founder Academy resources
Free, practical checklists for this area: VC Due Diligence Checklist.