ACP Venture Capital Management Fund LLC

Item 5 – Fees and Compensation
ACP VCMF does not receive any management fees and/or compensation from the Fund clients.
Related persons/entities are compensated by the Funds. The fees charged Fund investors are
calculated at the individual private Fund level. Please refer to the relevant Fund’s Offering
Documents for a complete understanding of how fees are calculated and deducted. The information

contained herein is a summary only and is qualified in its entirety by the relevant Fund’s governing
documents.

Management personnel of our firm are licensed as registered representatives of a broker-dealer
and, acting in that capacity, they can implement transactions for Fund investors including account(s)
held at American Capital Partners LLC. While these individuals endeavor at all times to put the
interests of the Fund investors first, Fund investors should be aware that the receipt of
compensation itself creates a conflict of interest and may affect the judgment of these individuals
when making recommendations.
Other Fees and Expenses

Investors in the Funds will be responsible for the Funds’ expenses including but not limited to legal,
compliance, audit, accounting, other operating expenses, trading, brokerage commissions, transfer
agent fees, transaction fees, markups and markdowns, other related costs and expenses and the
fees related to investing in funds of funds.

Please refer to the relevant Fund’s Offering Documents for a complete understanding of each
Fund’s fees and expenses. The information contained herein is a summary only and is
qualified in its entirety by the relevant Fund’s governing documents.

Item 7 – Types of Clients
ACP VCMF currently provides investment advice exclusively to private pooled investment vehicles.