Frost Venture Parters Seed & Early Stage Fund
Venture Capital Fund Management
Force 10 provided fiduciary services for this venture capital fund family after the sponsor was removed under allegations of misappropriation of funds, managing all the activities required to protect and support the value of the portfolio.
Pursuant to a binding arbitration ruling, we were retained in 2018 to serve as the Interim Manager of the fund family, which had total invested capital in excess of $49 million. Force 10 was then elected as the permanent Manager of the two venture capital funds. The former general partner was found to have breached his fiduciary duties to the funds and withdrew his excessive management fees. The arbitrator awarded the funds a judgment against that general partner in excess of $16 million. Force 10 Partners oversaw the portfolio companies’ investments, performing fund accounting, managing communications with the LPs, ensuring fund compliance, managing litigation matters, and seeking to maximize the portfolio’s value.
