Expenses

Expenses and Reimbursement

OCV has a shared Accounting Brex card, a shared Pre-launch Brex card, and employees have individual Brex cards.The shared accounting card should be used for most general business expenses not attributable to an individual including paying for any broad business services or software, or purchasing equipment for new employees.The pre-launch card should only be used as a placeholder for payments related to portfolio companies before their own Brex cards are set up.The individual Brex card is used in OCV employee transactions that would be expensable e.g. travel and attributable only to that specific individual.

💳 Corporate Credit Card

When practicable, use OCV issued corporate credit card for business expenses. For corporate card charges:

• All expenses require a receipt (this is an IRS requirement)

• Recommended Practice: opt for a copy of the receipt to be sent to your OCV email so you can forward the receipt to the corporate card account directly

• Make sure to submit an itemized receipt, not the credit card payment total

• All transactions require a memo to document the business case (for accounting / expense classification purposes)

• For business meals or client meetings, please list the business purpose and the names of all participants in the memo

• In group outings, the most senior colleague should pay for the bill

• Employees are responsible for adding the receipt and memo in the corporate card system by each month-end

🪙 Out-of-Pocket Expense Reimbursement

For out-of-pocket expense reimbursement, employees can submit an expense report through OCV’s payroll system. Employees must submit their receipts within 90 days of receipt date to receive reimbursement.OCV’s Accounting Team will process expense reimbursement after Management review and approval. Expenses approved prior to the upcoming payroll processing date will be reimbursed on the following pay cycle.

✈️ Travel Expense Policy

All business travel needs to be pre-approved by the COO. Employees are expected to complete a pre-travel approval form with estimated total cost of the trip.

Travel expense guidelines

1. OCV will cover work-related travel expenses. This includes lodging and meals during the part of the trip that is work-related. Depending on the distance of your travel, it can also include the day before and the day after work-related business. For example, if you are attending a 3-day conference in a jetlag-inducing location, the firm will cover your lodging and meals those 3 days as well as one day before and one day after.

2. OCV will cover costs related to commuting to and from a destination or airport which is work-related. This includes public transit, ride-sharing services (Lyft, Uber, etc.), or personal vehicle mileage between one's home and airport, bus/rail station, or work-related meeting.

3. Always bring a personal credit card and your corporate card with you when traveling for company business.

4. If you incur any work-travel related expenses (on your personal card or company card), save the original receipt.

5. When your trip is complete, please file out of pocket expenses for reimbursements in the payroll system. For company cards, please upload memos and receipts in the purchasing card dashboard.

6. OCV can accommodate custom requests. It is OK to stay longer on your trip. However, the extra days will not be covered by the firm.

Expense Allocation

OCV manages expenses for many entities. These include OCV (under the Management Company), OCV funds, and OCV companies (typically during the formation phase only).As a default practice, we ask our vendors to bill the appropriate entity for which services/goods were rendered.

Company Pre-Launch Expenses

OCV has a designated payment method for standard pre-launch systems. These systems and accounts are expected to transfer to the company's own business credit card upon activation. As a general practice, OCV would minimize expenses incurred on behalf on the company during the formation phase.For each company, OCV would not seek reimbursements for total expenses below $500. Once total expenses exceed $500 (potentially driven by domain purchases), OCV would invoice the company for all direct expenses incurred.When founding team members need to purchase equipment or services before their company's financial systems are set up, the preferred method is to pay for these personally and later submit expense reimbursements to their company's accounting team. (See also Corporate Credit Card).

Reimbursements Across Entities

Occasionally, OCV may need to cover payments on behalf of another entity. These payments are recorded as receivables on OCV’s balance sheet. Once the entity can process invoices, OCV will request reimbursement at actual cost by submitting receipts to the entity's accounting department.Table below highlights typical expense categories by entity type.

OCV (under Management Company)	OCV Funds	OCV Companies
Operating costs (i.e. payroll for OCV team, systems, etc.)	Deal-specific expenses (primarily legal, travel, etc.)	Company operating costs (payroll, fixed assets, systems subscriptions, etc.)
Content production for OCV blog posts including new company launch announcements	Fund admin fees	Company-specific legal fees (including entity formation)
OCV-specific legal & accounting needs and non-company specific work that benefit all OCV companies	Tax services for funds (GP and LP entities)	Outsourced HR & recruiting services
Catalyst program sponsorship payments	ㅤ	Marketing (including contract content writers, etc.)
ㅤ	ㅤ	Outsourced accounting & tax services
ㅤ	ㅤ	Corporate taxes and statutory filings

Guardrails on Unusual Activity

The Accounting & Finance team will regularly review for any unusual expenses or activity. Invoices going to new vendors will require due diligence before processing, ideally a W-9 is provided. Irregular activities will require submitting a receipt and the Accounting & Finance team may request for additional information.