Raise Millions by Hustle Fund VC Page 127 ● Capitalization Table (if any) ● Proprietary Information and Investments Assignment Agreements (PIIAs) Some of these items like a 409A doc or cap table may be overkill, but the fundamentals are there. Any startup lawyer can easily provide this to a company. Here’s how you’ll actually receive the money In September 2022, Hustle Fund raised $46M for Fund III. You must think that we’re sitting on top of the world with all that cash in the bank, right? Except we don’t have $46M in our checking account, even though we raised that money. How the heck does that work? There’s a process we’ve gotta go through called capital calls. A capital call is the process by which VCs get access to the money they fundraised from their LPs. When VCs have a deal that’s ready to fund, they call down a percentage of the money that their LPs committed to our fund. Once the VCs have received the cash, they’re able to wire the appropriate amount to the founders. The norm in VC is to ask for little portions of their funds several times each year. But if they haven’t called enough to fund all the startups hustlefund.vc / @hustlefundvc