Our client is a San Francisco-based private equity firm whose services include asset management and portfolio investments. They required a dedicated team of paralegals and lawyers to take care of regular and efficient collection, review, and preparation of finalized fund investment booklets.
Our client is a San Francisco-based private equity firm whose services include asset management and portfolio investments. Since its formation in 2015, the company has established beneficial relationships with multiple wealth advisory firms across US and Asia raising funds for private equity deals. Some of the client’s noted milestones are the rapid distribution of cash and stocks to investors and formation of two new vehicle funds within a year.
The client requires regular and efficient collection, review, and preparation of finalized fund investment booklets prior to its projected fund closing dates. Hiring a full-time resource in the US is not a cost-friendly option given the erratic influx of subscription documents. With the tight deadlines involved and limited manpower, our client must ensure it has the means to perform fund subscription document reviews, corresponding KYC procedures, and closing of investment paperwork of potential investors across multiple funds.
Since 2019, Acclime Philippines has provided the client with a dedicated team of trained paralegals and a supervising lawyer to provide support services to ensure a seamless review and closing process. An Acclime Philippines paralegal is readily available to jump in anytime the client receives investment documents.
The Acclime Philippines team validates potential investors’ fund subscription details, conducts KYC checks, and directly liaises with the individual investors, entity owners, and strategic advisors across the globe to authenticate and complete the subscription booklets to be presented to client’s General Partners for final approval. Data handled includes personal identifiable information, federal tax classification, statutory disclosures, and investment commitment amounts. A supervising lawyer is assigned to oversee the process and ensure quality control.
Acclime Philippines is also responsible for providing daily updates to the investment documents status report and preparing the subscription paperwork to be coordinated to the client and the client’s counsel for final confirmation of acceptance. Alongside the client, Acclime Philippines maintains a spreadsheet of all investors with their corresponding information and investment history.
The effective partnership between the client and Acclime Philippines has helped the client successfully close 5 investment rounds to date. Acclime Philippines also allowed the client to enjoy 80% in savings which would otherwise incur a $5,000-7,000/month spend for each full-time paralegal in San Francisco. Acclime Philippines has reviewed over 700 subscription documents to date.
For our client’s latest fund alone, Acclime Philippines successfully reviewed 151 subscription booklets and ensured the timely provision of the final investor list prior to the designated due date. The client specified a strict 10-day deadline to complete the entire screening process. Within a strict timeframe of 48 hours from receipt of documents, Acclime Philippines and client’s counsel were able to finalize accepted Limited Partners to the fund. A total of $37,000,000.00 was raised for the fund, which was above the initial investment projection.
Acclime Philippines is one of the longest service provider relationships that we’ve had, as our firm has worked with them since their inception. Our firm works with them across a majority of our workflows, from investor-facing functions to internal administration, and their wide range of capabilities has provided us with solutions that would have been impractical or cost-prohibitive for a U.S.-based vendor to provide.Their superior work product, attention to detail, and willingness to go the extra mile have allowed us to operate at a level which is usually only typical of firms which are orders of magnitude larger – all of which has in turn allowed us to operate at the highest levels of the Venture Capital industry.
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