The phrase "discretionary basis" means the ability to make decisions based on personal judgment or preference rather than following strict rules or requirements. Full definition
Alignvest's founding partners have committed to invest over $ 230 million of their personal capital into funds managed by Alignvest on a fully discretionary basis, with the capital subject to an investment period to 2024 and subject to full recyclability (including all gains) over the investment period. (alignvest.com)