The secondary market for private fund interests—commonly known as "secondaries"—has become an essential feature of venture capital (VC), private equity (PE), and growth equity ecosystems. As liquidity demands among Limited Partners (LPs) increase, understanding the legal intricacies of secondary sales and transfer rights is critical for fund managers, LPs, and startup founders involved in secondary transactions.

Fund manager transitions—whether due to planned succession, restructuring, or unforeseen departures—require clear legal documentation and strategic planning to ensure operational continuity, maintain Limited Partner (LP) confidence, and preserve fund performance. As LPs and regulators place growing emphasis on governance and transparency, documenting these transitions has become essential.

The Federal Trade Commission (FTC) recently introduced the "Click-to-Cancel" rule, a regulation aimed at simplifying subscription cancellations for consumers. This rule, part of a broader initiative to combat deceptive or burdensome subscription practices, has far-reaching implications for startups and businesses that offer recurring billing services. Understanding and complying with the rule is essential to mitigate legal risks and maintain customer trust.

This article explores the legal requirements of the "Click-to-Cancel" rule and outlines strategic compliance considerations for business owners.

Launching your first investment fund is an exciting milestone—but it’s also a legal minefield if you’re not prepared. From fundraising compliance to fund governance, first-time fund managers often encounter hurdles that can delay launches, damage investor confidence, or trigger regulatory issues.

As fund managers grow and evolve, many expand from a single fund into a multi-fund platform. Whether it’s launching follow-on funds, sector-specific vehicles, or co-investment opportunities, managing multiple funds requires more than just ambition—it demands a solid legal foundation.