Define your investment strategy and target market
Build a credible track record
Determine the fund structure
Choose the jurisdiction and domicile
Hire legal and compliance counsel
Register with relevant regulators
Draft offering documents and fund agreements
Set up the management company
Arrange fund administration and accounting
Select a prime broker, custodian, and auditor
Establish banking and trading infrastructure
Build risk management and compliance policies
Secure seed capital or anchor investors
Set management fee and performance fee terms
Launch investor marketing and fundraising
Complete AML, KYC, and investor onboarding
Open the fund and begin trading
Monitor performance, risk, and compliance continuously
Report regularly to investors and regulators