VC firm Base10 Partners is offering its limited partners an opportunity to co-invest in growth-stage startups through its Preferred Access program.
With the new program, LPs will be able to co-invest in promising
portfolio startups with the same cost basis, terms, and structure that
they previously agreed upon with Base10.
- The program is run by Garcia Gordobil, who joined from Cambridge Associates.
- VC firms have started adopting co-investment programs, which have been popular with PE firms.
- To
provide LPs co-investment options, VC companies had to establish SPACs,
which would have a separate management fee structure and carried interest from the main fund. The Preferred Access program eliminates many of these challenges.
- Introducing
the Preferred Access program has enabled Base10 to lead rounds in
late-stage startups, such as Incredible Health and Oyster.
- The Preferred Access program works alongside Base10's $300M late-stage focussed Advancement Initiative Fund.
