Around the world, fund managers are building companies that do not follow Silicon Valley’s “fast-scale, fast-exit” trajectory. They build essential infrastructure, blended business models, capital-intensive platforms, and companies that deliver steady, compounding value over time. Yet we are still expected to deploy capital through structures designed for a very different reality.

This mismatch is not a failure of venture or private equity as asset classes. It is a failure of fit.

We are ready to design and manage funds that:

  • Support founders whose growth paths do not map to a 5–7 year sprint, but instead reflect real-world operating complexity and longer journeys to scale.

  • Use evergreen, open-ended, continuation, long-life, or permanent-capital vehicles that match actual exit conditions rather than forcing premature or suboptimal sales.

  • Align incentives across timelines, ensuring carry, fees, and governance reflect the true nature of value creation rather than arbitrary fund cycles.

But too often, we are constrained not by market realities, nor by what entrepreneurs need, but by the expectations of capital providers anchored in outdated structures.

We sign this petition to signal to capital providers:

👉 If the you offered capital designed for longer horizons, we would raise it.

👉 If you were ready to fund 15/20-year or permanent vehicles, we would design them.

The appetite for patient capital exists, on the ground, among the practitioners building the future.

Now we need capital partners willing to match the ambition, complexity, and time horizons required to build the next generation of globally relevant businesses.

This is the moment to expand the menu of fund structures, not adjust an outdated model, but evolve beyond it.

We are ready. The question is: will you meet us there?

Fund Managers That Have Joined In

We Would Raise Longer-Term Funds — If We Could

We, the undersigned fund managers, believe the traditional ten-year closed-end fund model — inherited from a very specific era and geography — is no longer fit for purpose. It compresses value creation, distorts incentives, and leaves both financial and impact returns unrealized across the majority of markets, sectors, and business models we work in.