Sponsors raising from LPs in Africa, the Gulf and Europe
SPVs for African and Gulf LPs
Open Delaware SPVs to LPs in markets other SPV platforms cannot bank.
The problem
Traditional SPV providers route every subscription through US correspondent banking, which quietly excludes LPs holding naira, cedi, shillings or rand. The investor is good for the money and still cannot get it there in time. Sponsors lose real capital to plumbing, and usually only find out when a commitment fails to fund.
How Rocketbook handles it
Rocketbook accepts LP funding in USD, EUR, GBP, SEK, AED, ZAR, NGN, GHS and KES, along with the stablecoins USDC, USDT and EURC. Conversion happens at a rate quoted before the LP commits, and the USD-equivalent commitment posts to the SPV ledger. KYC and AML run through providers with coverage in the markets we bank.
Workflow
- 1
LP picks their currency
Before committing, the LP sees the conversion from their currency into the SPV's USD base, so the rate is known in advance rather than applied at settlement.
- 2
Fund locally or in stablecoins
The LP funds through their own currency's rail, or deposits USDC, USDT or EURC where digital dollars are easier to move than bank dollars.
- 3
Compliance runs automatically
KYC, AML, sanctions screening and beneficial ownership checks run through providers covering the supported markets. The sponsor sees one status board rather than chasing documents.
- 4
Sponsor keeps USD-clean books
Every commitment posts to the SPV ledger in USD, so the sponsor never manages multi-currency accounting.
What you get
- Funding in USD, EUR, GBP, SEK, AED, ZAR, NGN, GHS and KES
- Stablecoin deposits in USDC, USDT and EURC
- FX rate quoted before the LP commits
- USD-base SPV ledger, so the sponsor's books stay simple
Frequently asked questions
Which currencies do you support?
USD, EUR, GBP, SEK, AED, ZAR, NGN, GHS and KES, plus the stablecoins USDC, USDT and EURC. Coverage is expanding, so tell us if your LP base holds a currency that is not on the list and we will let you know where it sits.
How is the FX spread calculated?
Spreads are quoted on the deal page before the LP commits, expressed as basis points over mid-market. Sponsors see the same number the investor sees, so there are no hidden margins.
Do non-US LPs receive a K-1?
Yes. Non-US LPs receive a K-1 reflecting their share of partnership income, plus a Form 1042-S where US withholding applies. Some sponsors prefer to pair a Delaware SPV with an offshore feeder for non-US LPs; Delaware is live today and Cayman is on the roadmap, so talk to us if a feeder is essential to your raise.
Related glossary terms
Ready to talk through your SPV?
Book a demo and we'll walk you through how Rocketbook fits your deal flow.