On steps to close a deal in a seed fund: yes or no for the below? Step 1: selection committee Step 2: DD Step 3: IC with independent members.
May 03, 2023
This depends on whatever process you want and whatever your LPA says. Most new managers make all of the investment decisions unless there is a conflict of interest, and then an LPAC (Limited Partner Advisor Committee) needs to approve. Again, this is dependent on the LPA. Read the Cornerstone LPA if you are interested in learning more.