# Fund formation

`kaal:entity:fund-formation`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `fund-formation`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

3 claims across 2 works, 2017 to 2017.

**2017**

- [2959730-006](https://wulfkaal.github.io/claims/2959730-006) [empirical/asserted] -- First time managers are disproportionately affected by the new fee environment: unlike in the recent past they are now often forced to share the business budget, such as rent and employee salaries, in order to justify a 1.5% management fee.
  > First-time or new managers are particularly affected by the new fee structure. Unlike in the recent past, first-time managers are now often forced to share the business budget (rent, employee salaries, etc.) to justify the 1.5% management fee.
  Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730
- [2959730-007](https://wulfkaal.github.io/claims/2959730-007) [failure/asserted] *(failure mode)* -- New managers increasingly face contested track records, meaning the new firm cannot get a consensus from the manager's old employer about the manager's track record with that employer.
  > Moreover, the industry is increasingly seeing contested track records for new managers, i.e., the new firm cannot get a consensus from the new manager's old employer about the manager's track record with that employer.
  Wulf A. Kaal, Blockchain Applications and Fee Structure Developments in Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2959730
- [2998033-036](https://wulfkaal.github.io/claims/2998033-036) [empirical/evidenced] -- Private fund adoption of blockchain began in 2012, coinciding with the broader public debate over blockchain solutions, and took the form of managers setting up separate new fund entities that used the technology.
  > In 2012, coinciding with the more public debate of blockchain based solutions, private investment fund managers started to get involved in the technology by setting up separate and new fund entities that utilized the technology in various forms.
  Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/fund-formation.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.