NovaWave Capital manages investments for NOVAWAVE Fund I, LP and certain co-investors, seeking long-term capital appreciation by investing in early-stage technology companies incubated by LG NOVA. The Fund focuses on non-hardware, service-oriented, and subscription-based businesses, particularly in digital healthcare, clean tech, and artificial intelligence, with an emphasis on impact, environmental and social governance, and diversity, equity, and inclusion principles.
Fee Structure
NovaWave Capital manages investments for a private fund. The general partner of the fund is compensated quarterly, in advance, with a management fee. The management fee is 2.5% annually of the aggregate capital commitments of all limited partners, but after the first full fiscal quarter following the expiration or termination of the investment period, the annual fee is 1.75%. The general partner also receives a carried interest equal to 20% of all distributions made to the partners after a return of capital actually contributed.