LLCs are used for companies where partners are active in running the company like a law firm, doctor's office or financial fund. They are more complex, regulated and expensive to set up and maintain. LLCs are for proper funds with the money to do properly.
SPI is best suited to having 1 or more GPs actively run the fund while token holders have a non-active role. LPs are much easier to set and maintain and have no corporation tax.
LLC would be the next, next step up 🚀 😁