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Should a First-Time Fund Manager Start a Micro VC under Another Fund and How to Approach Potential LPs?

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May 03, 2023
Hi everyone! I hope you’re doing well! I had two questions: 1. As a first time fund manager what do you think of me starting my fund under another funds wings? Essentially starting a micro VC under someone else’s current VC to share the resources with them as well and save on costs. 2. Would Angel investors be potential LPs? What is the best way to approach an LP? Directly ask them if they would invest or warm them up over a period of time? Thank you so much!
1 answer
Accepted Answer
May 03, 2023
1. Please DO NOT do this. It’s a 10+ year investment!!! 2. Yes, most of your 1st close will likely be HNWs/Angels

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