Inside SPV Fees: A GP–LP Conversation

Unlike venture funds, there has never been a universal standard for SPV fees. And Sydecar data shows that SPV fee structures are becoming increasingly varied as deals become more competitive, complex, and operationally demanding. 

This is a candid conversation between an SPV manager and LP on the realities of SPV fees today. Together, they share how SPV terms are set, how LPs react to different fee structures, and where expectations are shifting.

Learn about:

• How GPs decide when to charge management fees, carry, or both

• How angel vs. institutional LPs evaluate SPV terms

• What decisions help to build trust (and what raises red flags) 

• How managers communicate fees clearly and credibly

Whether you’re a manager structuring SPVs alongside a fund or an LP evaluating opportunities across different leads and deal types, this conversation offers a clearer look at SPV economics today.