Over the last decade, alternative investments have become a core part of high-net-worth portfolios. But how capital is allocated within this category is evolving — fast. In 2025, more investors are choosing SPV-led structures over traditional blind-pool funds, and the reasons go beyond flexibility.

At Open Doors Partners, we’ve built our entire model around this shift — enabling accredited investors to access vetted private market opportunities on a deal-by-deal basis through our Delaware Series LLC structure.

So why are SPVs on the rise?

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1. Transparency Over Trust-Me Capital

Blind pools require LPs to commit capital without knowing what the fund will ultimately invest in. In today’s market — where scrutiny, governance, and selectivity are at a premium — that’s a hard sell.

SPVs offer:

• Full visibility into the underlying asset

• Diligence materials upfront

• Negotiated terms on a per-deal basis

This lets investors back what they believe in, not what they’re told to trust.

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2. Customization, Not Commitments

SPVs let investors build their own portfolios based on:

• Sector preference (e.g. fintech, AI, secondaries)

• Risk profile (e.g. early-stage vs cash-generative assets)

• Time horizon (e.g. near-exit opportunities vs long-term holds)

This level of control has turned SPVs into the preferred model for family offices, solo capitalists, and sophisticated angels who want allocation freedom without committing to a fund’s pace or mandate.

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3. Efficient, Compliant Execution

Modern SPV platforms — including Open Doors — take care of:

• Entity formation

• K-1 tax reporting

• Legal documentation

• Capital call administration

That means investors get the clarity and governance of a structured vehicle without the complexity of managing it themselves. For fund managers, it unlocks the ability to syndicate deals without raising a full fund.

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4. Deal Quality Over Deal Flow

Because SPVs are activated one deal at a time, there’s no pressure to “deploy for the sake of it.” That allows platforms to say no more often, wait for high-conviction moments, and pass on assets that don’t meet the bar.

At Open Doors, we review hundreds of opportunities a year. But we only launch a handful of SPVs — typically 3 to 6 annually — when conviction, access, and alignment all line up.

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Final Word: Not Just a Structure, a Strategy

For investors tired of opacity and over-diversification, SPV-led investing represents a smarter path forward. It’s not just about structure — it’s about building a relationship-first, clarity-driven investment approach.

If you’re an accredited investor looking to back curated private market opportunities with full visibility and control, we’d love to hear from you.