> without charging fees related to the results, I don't understand why that would be the case. Just charge a flat fee for the fund and distribute proportionall

> without charging fees related to the results, I don't understand why that would be the case. Just charge a flat fee for the fund and distribute proportionally to the teams whose companies do best. It sounds impossible to satisfy your desiderata with unsophisticated investors. They will have to delegate the task of assessing board decisions to someone.