What are normal venture fund fees and carried interest?
How to read a venture fund's management fee and carried interest beyond the headline rates: fee base, step-downs, offsets, the waterfall, hurdles and clawback.
How much should a GP commit to their own fund?
What the GP commitment is, the typical range, cash versus fee waiver, and why the same percentage means different things for different managers.
Side letters and MFN rights, what LPs typically negotiate
What LPs ask for in side letters, which provisions change how a fund operates, how most-favored-nation elections work, and how co-investment rights range from soft to hard.
Key person and succession terms in emerging funds
What a key-person clause does, why it matters even for a solo GP, and the practical continuity questions an allocator should ask beyond the legal terms.
What does an LP advisory committee do, and should you sit on one?
What an LPAC actually approves, who usually sits on it, what a seat asks of you, and how to judge an emerging manager's governance structure.