Fund operations for US private funds
Delaware limited partnerships, LLCs, and SPVs run in the same Folio workspace as the rest of your funds, with an audit trail ready for your auditors and your SEC obligations.
Securities and Exchange Commission
Private fund managers are SEC-registered investment advisers or exempt reporting advisers, depending on size and strategy.
Delaware LPs, LLCs, and SPVs
Most venture and private equity funds are Delaware limited partnerships, with LLCs and SPVs for co-investments and single-asset deals.
Records ready for audit and the SEC
NAV inputs, capital activity, and LP records logged with a full audit trail. Folio prepares the record; your team or administrator makes the filings.
USD throughout
US funds are denominated in USD, so their figures flow straight into the consolidated view alongside funds held in other currencies.
What runs on Folio in the United States
Delaware limited partnerships
Commitments, capital calls, and distributions tracked per LP across the life of the fund.
LLCs and SPVs
Co-investment and single-asset vehicles tracked in the same workspace, so ownership and returns roll up correctly.
Audit-ready NAV
Valuation inputs logged as they come in, so the NAV your auditors review can be traced end to end.
One view with your other funds
US vehicles report alongside funds in other jurisdictions in a single USD view.
| Vehicle | Domicile | NAV (USD) |
|---|---|---|
| Fund I | Delaware · LP | $41.8M |
| Fund II | Singapore · VCC | $33.5M |
| Co-invest I | Delaware · LLC | $16.9M |
| Growth Fund | India · AIF | $10.2M |
Rows marked in blue are domiciled in the United States. Every figure is consolidated in USD.
How a quarter runs on Folio
- 1Capital calls go out digitally and LP payments are tracked against each commitment
- 2Valuation inputs for the quarter are logged as they arrive, each one recorded to the audit trail
- 3NAV and LP statements are produced from the same records and published to the LP portal
- 4Your team or administrator handles audit requests and SEC filings from records that are already reconciled
Deal flow, portfolio monitoring, fund operations, LP reporting, compliance, and Sage work the same way here as in every other market, on the same fund ledger.
Common questions about running US funds on Folio
This guide is general information about how funds in the United States run on Folio. It is not legal, tax, or regulatory advice; confirm your obligations with counsel or your fund administrator. Updated November 2026.
Running a US private fund?
Book a demo and we will walk through how your Delaware fund and its SPVs would run on Folio.