Investing in Small Business on the Side

Anyone in LMM PE have experience investing in a small business on the side? I have a family member that wants to start up a healthcare imaging franchise and wants some capital. My plan would be to supply them capital and provide strategic advise, but not operate it day-to-day. Business model is in an unrelated industry to the fund I work for. Wondering if others in LMM PE have done this, and if so, how did you approach it? Just do it, or seek investment pre-approval?

3 Comments
 

Instead of setting aside capital to fund a startup that will never see a liquidity event you should walk over to your nearest strip club and make it rain with the ones.

 

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