August 09, 2018

Creating Alignment, The Deep Cuts

Classic albums often have a catchy single or two. These tracks generate the buzz, but oftentimes the B side of the album is where much of its character is further revealed. This analogy is an appropriate characterization of how fund terms are evaluated in the venture capital universe. Our prior piece addressed the “catchy singles,” like management fees, carried interest, and recycling, which receive a fair amount of airtime from Limited Partners and General Partners alike, while this piece will...