The complete guide to raising your first fund
A comprehensive 12-chapter guide designed to help first-time and emerging asset managers navigate fundraising for their inaugural fund in 2025-2026.
Built for emerging fund managers
Whether you're raising your first fund or refining your approach, this handbook provides the framework you need.
First-Time Fund Managers
Launching your debut fund and need a comprehensive roadmap for the fundraising journey.
Emerging Managers
Scaling from Fund I to Fund II with institutional best practices and refined processes.
Placement Agents
Supporting clients with structured fundraising approaches and professional documentation.
A complete fundraising curriculum
From defining your thesis to managing your first close, every step is covered.
Defining Your Investment Thesis
Creating a clear, defensible investment narrative with specific positioning and competitive advantages to drive LP conviction and disciplined deal selection.
Building Your Sourcing Edge
Developing repeatable deal flow mechanisms, leveraging relationships and data analytics to create proprietary investment opportunities.
Fund Structure: 506(b), AIFMD & ELTIF
Comparing U.S. and European regulatory pathways, aligning GP/LP economics, and establishing scalable fund architecture.
US Marketing Rules & SEC Compliance
Navigating SEC Marketing Rule requirements and performance advertising standards for compliant LP-facing materials.
EU Fundraising Routes
Evaluating AIFMD, NPPR, and country-specific pathways for capital-efficient European fundraising.
Building Your LP Data Room & DDQ
Structuring professional due diligence documentation to reduce friction and demonstrate operational maturity.
LP Targeting: Family Offices to Fund-of-Funds
Segmenting the LP universe and matching LP types to fund strategy and check sizes.
Running Your Fundraising Process
Establishing structured, repeatable fundraising workflows and LP pipeline management.
First Close: Funnel & Metrics
Defining momentum indicators—capital raised, pipeline quality, LP composition—to de-risk remaining fundraising.
The Final Close Checklist
Managing allocations, anchoring remaining commitments, and leveraging the announcement for Fund II positioning.
LP Reporting & Communication
Building disciplined reporting cadence and narrative to maintain LP alignment and re-up readiness.
Secondaries & Continuation Funds
Understanding GP- and LP-led secondaries and strip sales for managing duration and stakeholder alignment.
Practical tools and templates
Beyond the educational content, the handbook includes actionable resources to implement what you learn.
- Step-by-step checklists and decision trees
- DDQ templates and response banks
- LP reporting samples and frameworks
- Budget benchmarks and operating rhythms
- Weekly IC, monthly IR, and quarterly close mechanics
- Audit readiness documentation
Ready to launch your fund?
Use CQ alongside the handbook to streamline your fundraising process with AI-powered tools and our comprehensive investor database.