What is Subscription Agreement?
A subscription agreement is the legal contract an LP signs to commit capital to a fund. It collects the LP's personal and entity information, confirms their investor qualifications (accredited investor / qualified purchaser), and sets out the terms of their commitment.
The subscription agreement is the binding commitment document: by signing, an LP agrees to fund capital calls up to the committed amount under the terms set out in the LPA. It includes extensive representations and warranties from the LP — confirming investor status, source of funds, and regulatory compliance.
Modern fund administration platforms have digitized the subscription process, replacing paper-based "sub docs" with electronic completion through platforms like DealCloud, Allvue, and Juniper Square.
Also known as: sub doc, subscription documents