Annual admin
$10k/ year per Feeder
Includes ongoing compliance, tax coordination, NAV calculation, and regulatory filings for that specific jurisdiction.
Onshore, offshore, all in one place
Delaware master-feeder structuring with cross-border LP onboarding · Zero setup and legal fees
Delaware deal-by-deal SPVsInternational standardTax-transparentSetup: 1–2 weeks
There is no setup cost. Annualized cost is based on the ongoing fund services fee over a 10-year fund lifetime.
Built on a foundation of expertise and seamless execution
Launch in weeks, not months
Get your fund up and running quickly with our streamlined process
SEC-compliant setup
Work with administration and compliance workflows aligned with U.S. requirements
Transparent cost structure
No hidden fees. Clear, predictable pricing that scales with you
Chosen by leading funds and institutions
I launched my first two funds on AngelList. Infra One is what I wished existed back then — a truly global service with real ambition to handle formation and admin across jurisdictions, not just US-only.
Andreas KlingerGP, Prototype CapitalFrom entity formation to LP onboarding to quarterly reporting, Infra One handled it all so I could focus on deploying capital. What would have taken months with lawyers and accountants was done in weeks.
Nicola SinclairGP, Twin Track VenturesCompliance, tax filings, investor reporting — the stuff that buries first-time managers is exactly what Infra One takes off your plate. We launched with proper infrastructure from day one.
Simon LancasterGP, Omni Ventures
First Delaware LP? Read this before you file. (Or just let us do it!)
SEC exemptions, accredited investor rules, and the tax details your lawyers will charge you to explain.
Tax
PFICs in International Venture Funds of Funds: A Guide for US Taxable Investors
What US taxable investors in international venture funds of funds need to know about PFIC exposure, reporting and their options.
Tax
Delaware tax treatment for foreign LPs: what fund managers need to get right
Foreign investors in US venture funds face a multi-part tax regime. Getting the withholding and structuring wrong costs your LPs real money.
Common questions, clear answers
Infra One charges a single annual administration fee per feeder vehicle, with zero setup and legal fees. The master-feeder coordination — including consolidated reporting, cross-vehicle capital calls, and tax coordination — is included in the platform.
A master-feeder structure uses one or more feeder funds that channel investor capital into a single master fund, which makes all investment decisions. Typically, a US onshore feeder (Delaware LP or LLC) serves US taxable investors, while an offshore feeder (e.g., Cayman Islands) serves non-US and US tax-exempt investors. Both feeders invest side by side into the master fund.
Different investor types have different tax needs. US taxable investors prefer a pass-through entity to avoid entity-level tax. Non-US investors and US tax-exempt investors (endowments, pension funds) prefer a blocker structure to avoid US tax filing obligations (UBTI and ECI). Separate feeders allow each investor group to invest through the most tax-efficient vehicle while sharing the same underlying portfolio.
Each feeder fund must comply with the securities laws of its domicile. The US onshore feeder typically relies on Reg D exemptions and Investment Company Act exclusions, similar to a standalone fund. The offshore feeder follows the regulations of its jurisdiction (e.g., Cayman CIMA registration). The fund manager's SEC or state registration covers advisory activities across all vehicles in the structure.
A master-feeder structure involves forming multiple entities and coordinating legal documentation across jurisdictions. Typical timeline from engagement to first close is 8 to 14 weeks, depending on the number of feeders and jurisdictional requirements. Infra One streamlines this by managing all entity formations and documentation from a single platform.
Each feeder and the master fund require separate financial statements, NAV calculations, capital account maintenance, tax coordination (including K-1s for US investors), FATCA/CRS reporting, and annual audit support. The complexity is higher than a single-vehicle fund. Infra One handles all ongoing administration, tax coordination, and regulatory filings as part of the annual fee.