A commitment nearly didn't close.
We told the LP what to gate.
The Situation
A sovereign wealth fund-backed allocator was evaluating a proposed anchor commitment to an emerging VC manager raising a Fund II. Before committing capital, the LP engaged Third Foresight to conduct full institutional ODD on the manager, assessing whether the fund's operational infrastructure met the standards the allocator would require.
What We Did
We assessed the manager across six operational pillars anchored to ILPA 3.0, IPEV, and IFC standards. The assessment covered governance and organizational structure, valuation methodology, operational controls, treasury and liquidity management, IT infrastructure, and cybersecurity posture. Critical gaps were converted into conditions precedent and side-letter protections. The ODD summary was delivered to the investment committee in three weeks.
The Outcome
The LP had what they needed to commit with structure rather than faith. The manager understood, for the first time, exactly what an institutional allocator would find, and what it would cost them.
We know exactly what that LP scrutinized, how they scored it, and what nearly derailed the deal. If you are preparing for institutional capital, we know what is coming.