VSV’s Business
VSV is a limited liability company formed in Delaware in May 2019. VSV is managed by Michael
Lazerow, Kathryn Lazerow, John Giampetroni, Matthew Giampetroni and Katherine Q.
Rosa. The owners of 25% or more of the interests in VSV are Lazerow Enterprises, LLC (wholly
owned by Michael Lazerow), Traverse Capital Partners LLC (wholly owned by John
Giampetroni), and Acestes LLC (wholly owned by Matthew Giampetroni).
VSV provides discretionary investment advisory services to two venture capital funds, Velvet Sea
Venture Capital Fund, LP and Velvet Sea Venture Capital Fund II, LP (the “Funds”), with a focus
on opportunistic investments in privately held seed, early-stage and growth-oriented companies;
and provides discretionary investment advisory services to various special purpose vehicles
(“SPVs” and, collectively with the Funds, “Clients”), and may do so for additional funds or SPVs
(“Future Clients”).
In their capacity as the general partners of the Funds, VSV’s common control affiliates VSV GP,
LLC and VSV GP II, LLC (the “General Partners”), each a Delaware limited liability company,
rely on VSV to make all investment decisions for the Funds based on the investment objectives
and strategies set forth in each Fund’s limited partnership
agreement. VSV also provides certain
non-investment-related management and operational services for the Funds and the General
Partners, which services include legal and compliance and certain fund or SPV administration
services (e.g., bookkeeping, tax, accounting, audit and certain investor reporting services).
Investment advice is not provided to the investors (e.g., limited partners or members) in the Funds
or SPVs (“Investors”). Investors should carefully review the applicable Fund’s or SPV’s relevant
organizational documents, including the limited partnership agreement or operating agreement,
investment management agreement, private placement memorandum, subscription agreements, or
similar documents, as applicable (each a “Client Document,” and collectively, the “Client
Documents”) before making an investment, as the terms set forth therein will govern the
applicable Fund or SPV.
VSV does not participate in wrap fee programs.
Regulatory Assets Under Management
As of December 31, 2022, VSV managed $$330,769,118 in assets on a discretionary basis and $0
on a non-discretionary basis (and therefore the amount of its regulatory assets under management
(“RAUM”) as of December 31, 2022 was $$330,769,118).