Typical term sheets for LPs invested fund focused on search asset class

Hi,

I am planning a fundraise to set-up a vehicle/fund that is focused on search investments only.

What are the typical terms for such fund? Does it follow the 2-20 PE model or would it be different given it has slightly different timelines and exposure.
Any other key terms that I should note?

Would appreciate anyone who is open to sharing their experience.
Thanks!