{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Agentic Allocator","title":"Vilmar Feenstra on AI Governance, Fund Documentation and Why a Correct Answer Can Still Be Legally Wrong","html":"","width":"100%","height":180,"duration":1089,"description":"Vilmar Feenstra, Partner in the Investment Management practice at Loyens & Loeff in Amsterdam, joins The Agentic Allocator to discuss how AI is changing fund formation, fund documentation, and the work of the lawyers, GPs and LPs who depend on them. Vilmar advises on both sides of the table: managers raising funds and institutional investors committing to them.\nHis central caution is specific to legal work. Hallucination is the obvious risk. The harder one to catch is an answer that is accurate as far as it goes but incomplete from a legal perspective. Used as a starting point, AI output is valuable. Used as the final answer, it becomes a liability.\nVilmar explains why governance has to be agreed before any tool is selected, why organising data is not enough unless AI understands how fund agreements, side letters, subscription agreements and offering memoranda relate to each other, and why he expects fund documentation to start carrying explicit provisions on AI use. He also describes the fund review agent his team built, why the first version fell short, and what continued iteration produced.\n\nWhat You'll Learn:\nWhy an answer that is correct from an AI perspective can still be incomplete from a legal one, and why that risk is harder to spot than hallucination\nWhy decisions on tools, users, sign off and permitted data have to come before tool selection\nHow clear guardrails make wider experimentation across a firm possible\nWhy organising data is only half the work, and why AI needs to be guided on how fund documents connect\nWhy Vilmar expects LPAs and side letters to include explicit AI provisions, and why prohibiting counterparties from using AI is no longer a realistic position\nWhat separates the firms making progress from those that banned AI or released tools without boundaries\nWhy asking staff to name their most frustrating tasks surfaces the most useful applications\nWhat a fund review agent that took several attempts to get right says about persistence\nA...","thumbnail_url":"https://img.transistorcdn.com/QigjduDJIqFTeeJFynBiyzGolv4eHG5zocOf8vY173o/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9hZGY5/NTNkMjIzZGE0NWFj/YWEzYzY0ODU1ZTYx/NzE2Zi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}