Focus Map is Building
Toward FM Fund I.
Over the past years, we have worked inside emerging managers’ capital formation processes. The fund represents the next logical step:
moving from commercial partner to capital partner.
The vehicle is currently in development and will launch once the structure, alignment, and investor base are fully prepared.
What follows outlines the intended portfolio construction, deployment model, and investment framework guiding the vehicle.
FM Fund I - Stable Cash Flow. Scalable Growth.
FM Fund I (“The fund”) partners early with emerging managers and supports their institutional capital formation through structured fundraising systems and minority ownership alignment.
Recurring management fee participation underpins cash flow, while selective LP commitments and carry exposure preserve upside. Sector and geographic diversification mitigate concentration risk, creating a yield-underwritten, growth-accelerated portfolio structure.
Portfolio size:
20-30
Emerging Managers
- 5–10% minority GP ownership
per manager.
- 20–40% of total fund capital
allocated to selective
LP commitments.
Fun Term:
7-10
Years
With optional continuation
vehicle allowing LPs to realize
liquidity or maintain long-term
minority GP stake exposure.
Deployment Period:
18
Months
Cohort-based selection:
6–8 managers per quarterly
intake Institutionalization and
capital formation support
embedded from day one.
Early Access + Operational Capital Formation + Diversified Ownership + Aligned LP Exposure =
Disciplined Cash Flow with Scalable Upside.
FM Fund I – 6 Step Investment Framework
Fund Criteria
Why emerging managers?
Emerging managers represent the strongest alignment dynamic in private markets. Most new funds launch below $300M AUM, where founders are economically aligned with investor outcomes. FM Fund I secures early ownership at this stage, when incentive intensity and enterprise value growth are highest.
