Design the fund before you fundraise it
Model structure, fees, waterfalls, and LP economics in one place
Fund design is where the next ten years of operational complexity is written. Get it right and the fund runs itself. Get it wrong and you spend a decade explaining waterfall mechanics to LPs who do not trust the numbers.
Reuben AI gives GPs a structured workspace to model vehicle type, jurisdiction, fee schedules, hurdle rates, catch-up structures, GP commit, recycling rules, and LP-level economics before a single sub-doc goes out.
Why fund design lives in spreadsheets it should not
Most emerging managers design their fund in a single Excel file passed between counsel, the placement agent, and the GP. By Fund II, no one can reconstruct why a specific carry mechanic was chosen, and side letters introduce mechanics no one has stress-tested.
Reuben AI replaces that scattered modelling with a structured workspace where every assumption is named, versioned, and reviewable.
How it works
Vehicle and jurisdiction templates
Start from validated templates for Australian VCLP/ESVCLP, Singapore VCC, Delaware LP, Cayman LP, Luxembourg SCSp, and more. Pre-loaded regulator-aware defaults.
Waterfall modelling
Model European whole-of-fund and American deal-by-deal waterfalls with hurdle, catch-up, and clawback. Stress-test against scenario IRRs before you commit to terms in the LPA.
Side letter mechanics
Encode MFN clauses, fee discounts, co-invest rights, and reporting commitments at the LP level. The platform tracks who has what and applies it to every distribution.
GP commit and recycling
Model GP commit funding sources, recycling rules, and management fee offsets. Understand cash drag and dilution before LPs ask the question.
What you walk into fundraise with
A defensible economic model that has been pressure-tested across scenarios. A clean answer to every LP question about hurdle, catch-up, recycling, and clawback. Confidence that side letters will not break the waterfall in year seven.
And, critically, a structured fund object that flows directly into the LP reporting and governance modules once the fund is live. The design is the operating manual.
Frequently asked questions
Can I model multiple fund structures in parallel?
Yes. Compare a VCLP versus a VCC, or a single fund versus a parallel structure, side by side with shared assumptions.
Does it integrate with our fund counsel's draft LPA?
Yes. Export the structured economics to a format your counsel can map directly into the LPA, reducing back-and-forth.
What about subsequent funds?
Clone Fund I as the starting point for Fund II, change only what is different, and instantly see the LP-level impact.
How long does fund design typically take with Reuben AI?
Initial fund design (structure, fee model, capital call mechanics, allocation policies) typically compresses from weeks to days with the platform's templates. Counsel and admin still attest, but the drafting workload is removed.
Does fund design cover non-EU and non-US jurisdictions?
Yes. The templates cover EU, UK, US, Singapore, Hong Kong, ADGM, DFSA and Cayman, with jurisdiction-specific clauses for AIFMD, SEC, FCA, MAS, SFC and FSRA where relevant.
Related reading
Fund Setup Software
End-to-end fund formation tooling, jurisdiction picker, structure templates, first close.
Global Jurisdictional Coverage
Native support for VCLP, VCC, Delaware LP, Luxembourg SCSp and more.
For Emerging Managers
Self-serve onboarding for solo GPs and first-time funds.
Fundraising
Move from designed fund to a managed LP pipeline.