A. Description of the Advisory Firm
Greycroft is a Delaware limited partnership founded in 2006 by Alan Patricof, Dana Settle,
and Ian Sigalow. Dana Settle and Ian Sigalow are the principal owners of the Firm. Greycroft
is a full lifecycle venture capital firm that partners with entrepreneurs to build category-
defining companies. Greycroft operates strategy-specific and stage-specific funds to enable
the Firm to provide capital for entrepreneurs at various stages of their journey. We have
found that our full life cycle approach is a compelling value proposition for entrepreneurs
and can help us win competitive investments against stage-specific venture firms. As a full-
lifecycle investor, our investment professionals also have a broader purview of the market,
including knowledge of the competitive landscape and exit opportunities. We believe this
helps with underwriting across all stages of investment.
B. Types of Advisory Services
Greycroft, together with its affiliated general partners, primarily provides discretionary
investment advisory services to closed-end pooled investment vehicles, co-investment
vehicles, and special purpose vehicles (each, a “Fund” and, collectively, the “Funds”) that are
exempt from registration under the Investment Company Act of 1940, as amended (the
“InvestmentCompanyAct”), and whose securities are not registered under the Securities
Act of 1933, as amended (the “Securities Act”). Our Funds invest primarily in private
companies from pre-seed to growth equity rounds. Greycroft’s advisory services consist of
investigating, identifying, and evaluating investment opportunities, structuring, negotiating,
and making investments on behalf of the Funds, managing and monitoring the performance
of such investments, and disposing of such investments. Co-investment vehicles and special
purpose vehicles are typically formed to invest only in the securities relating to the particular
transaction or strategy for which the vehicle was created. On a more limited basis, Greycroft
has entered into sub-advisory agreements to provide non-discretionary advisory services to
certain funds managed by third-party investment advisers. Such funds are generally formed
for the investment vehicle to invest solely in the securities relating to the particular
transaction for which the vehicle was created. The Firm’s clients consist of the Funds and the
sub-advised funds (each a “Client” and together “Clients”).
Discretionary investment advice is
provided directly to the Funds, subject to the discretion
and control of the applicable Fund’s general partner (a “General Partner”), and not
individually to the investors in a Fund. Greycroft’s advisory services to the Funds are tailored
to the Funds in accordance with the investment objectives, strategy, and restrictions as set
forth in each Fund’s offering memorandum (if available), limited partnership agreement or
limited liability company agreement (or other operating agreement, as applicable), side
letters or other agreements, and subscription documents (collectively, the “Governing
Documents”). Services are provided to each Fund in accordance with a management
agreement between Greycroft, the applicable General Partner, and the Fund.
The Funds invest primarily in early-stage and growth-stage venture capital investments
across three strategies: Software, Sustainability, and Consumer Products. In addition to these
strategies, Greycroft has also formed, and may continue to form in the future: (1) funds to
invest in follow-on opportunities in portfolio companies of a specific strategy; (2) funds with
certain investors that co-invest with the Funds on specific sectors, industries, or strategies in
which such investors could provide strategic value; and (3) co-investment vehicles to make
investments in specific target companies. Greycroft will employ investment strategies and
methods of analysis pursuant to such Funds’ Governing Documents.
While Greycroft’s investments are predominately in privately held companies, certain Funds
will, from time to time, make investments in public companies. Non-discretionary sub-
advisory services are provided to certain funds managed by third-party investment advisers
pursuant to a sub-advisory agreement.
C. Client Tailored Services and Client Imposed Restrictions
Discretionary advisory services are tailored to achieve each Fund’s investment objectives.
The Firm has authority to select where and how much to invest without consultation with the
applicable Fund’s investors, subject to any limitations set forth in the Governing Documents.
Non-discretionary sub-advisory services are provided to certain funds managed by third-
party investment advisers pursuant to a sub-advisory agreement.
D. Wrap Fee Programs
The Firm does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, the Firm has approximately $4.6 billion of assets under
management on a discretionary basis and non-discretionary basis.