Category: LP Institute

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Insights Limited Partners LP Institute

LP to GP Matching

How technology transforms venture capital relationship building LP to GP matching is the systematic process of connecting Limited Partners (investors who provide capital) with General Partners (fund managers who deploy that capital) in the venture capital ecosystem. This relationship determines which funds get raised, which startups receive funding, and which innovations reach the market. For decades, this process operated like an exclusive club dependent on warm introductions and industry conferences. The result was a concentration of capital among established players, with emerging managers locked out despite strong performance potential. While traditional VCs trade business cards at Sand Hill Road coffee shops, a new venture capital universe is emerging. Over 600 new VC firms have launched through modern accelerator programs, 65% outside the US, with female GPs representing 29% compared to single digits in traditional VC.…
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Insights LP Institute Resources Venture Capital Research Venture Institute

The State of Venture 2.0 in 2024

Apply to VC Lab 2024 Emerging Manager Report Reveals Industry Transformation The venture capital industry is undergoing a seismic shift, and it’s not just about the money anymore. Our analysis of over 850 new fund managers in 2024 – representing approximately half of all VC firms launched worldwide – reveals a striking transformation in who gets to write the checks.  Gone are the days when venture capital was exclusively the domain of seasoned finance professionals from traditional backgrounds. Today’s emerging managers are younger (46% under 40), more diverse (27% women and non-binary), and increasingly likely to come from outside the industry (48.8% transitioning from other sectors). But perhaps most surprisingly, the data suggests that these new entrants aren’t just changing the face of venture capital – they’re rewriting its playbook entirely.…
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LP Institute

LP Due Diligence Flags

When evaluating emerging venture capital managers raising their first or second fund, limited partners (LPs) face unique challenges and opportunities. These managers often lack extensive track records but may offer fresh perspectives and hungry, innovative approaches. This article outlines a system of flags categorized by severity to help LPs assess and quantify potential risks and rewards when considering investments in Fund I and Fund II offerings from emerging managers. The flag system is designed to provide a structured approach to evaluating the potential risks and rewards associated with emerging VC managers. By categorizing various aspects of a fund and its management team into different colored flags, LPs can quickly identify areas of strength, concern, and potential dealbreakers. This system is particularly useful for assessing Fund I and Fund II offerings, where traditional track records may be limited.…
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LP Institute

LP Due Diligence Checklist

The LP Due Diligence Checklist is a tool for limited partners to evaluate venture capital funds for potential investment. It covers management team assessment, investment strategy analysis, track record verification, operational and legal due diligence, and reference checks. The checklist is typically used in three stages: Initial Evaluation, Formal Due Diligence, and Closing. Each stage focuses on specific aspects of the fund to ensure a thorough evaluation process. This article provides an overview of the LP Due Diligence Checklist and its components. It outlines key considerations for each stage of the due diligence process. The goal is to equip LPs with the necessary tools to make informed investment decisions in VC funds. Stage 1: Initial Evaluation 1 – Management Team Overview The initial evaluation begins with an assessment of the funds management team.…
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LP Institute

LP Scaffold

The LP Scaffold is an outline on how a manager will reach the target fund size. It groups limited partners by archetype, estimates the target number that will participate, and then projects the total invested. Managers commonly use an LP Scaffold to plan how they will close the entire fund. Venture funds usually employ a phased approach when securing commitments from Limited Partners. The First Close often captures between 10% to 25% of the target fund size.  Funds attract smaller investors at first that are normally close to the managers, followed by larger investors later on after the fund has operationalized. This is, in part, a de-risking strategy by larger LPs, and it also often takes larger LPs more time to close. …
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LP Institute

LP Venture Process

Professional investing in emerging managers combines intuition with validation. This process can span weeks to months. The following article explores the path to a successful investment in an emerging manager fund for small and large investors and those with more or less time. Step 1. Set-up As a limited partner, reflecting and refining your Investment Criteria over time is important, incorporating learnings from your experiences. The key component of the Investment Criteria is determining how much you want to invest over what period of time, which can be a rough estimate.  Next, you reflect upon your investment goals to have exposure to sectors, geographies, and stages. You may also consider other objectives, such as diversity or sustainability. Being agnostic in specific components of your Investment Criteria is common, as it gives more exposure.…
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LP Institute

LP Venture Allocations

Venture capital is an asset class that epitomizes the high-reward and high-risk paradigm. When done well, venture capital can generate unparalleled returns. It offers Limited Partners the opportunity to partake in the growth stories of tomorrow’s leading companies, providing returns with the satisfaction of contributing to innovation and societal progress.  Within the venture capital asset class, the smaller funds of emerging managers have the best overall returns. Emerging managers typically have something to prove and have untapped networks to leverage for success. This article provides an overview of investing in venture capital as a limited partner. Why invest in venture capital? If you are interested in long-term opportunities with large returns and are comfortable with risk, then venture capital is an attractive asset class.…
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LP Institute

LP Institute Orientation

Welcome to the LP Institute, a program designed for Limited Partners to master the art of investing in emerging manager funds. The LP Institute is a program run by the Decile Group, the leading venture capital platform for next generation managers. At the core of all of our activities at the Decile Group is the Mensarius Oath, a commitment to ethical investing, fostering positive outcomes for all stakeholders, and contributing to the greater good. We embody the principle of “Give and Help First,” prioritizing collective success over individual gain, and tirelessly work towards making the world a better place. We believe that ethical venture capital will fund the solutions that humanity needs to address the many challenges that we are facing in the world today.…
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Insights Limited Partners LP Institute

Top 5 Reasons for LPs to Invest in VC

Venture capital is a top perfuming asset class for Limited Partners. There are many reasons to invest in venture, including financial, strategic, impact, and others. There is a renewed interest in venture as we enter 2024, and the survey below seeks to identify the top five reasons that make venture capital an attractive option for LPs. The insights from this survey will be instrumental in shaping discussions at the upcoming “Top 5 Reasons to Invest in VC in 2024” event on January 24th. If you are an LP, please take a moment to complete the survey below.…
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Insights LP Institute

Meet the LP Institute

VC Lab, the leading venture capital accelerator, introduces the LP Institute, a new program designed to train Limited Partners on backing top venture capital managers. 8 week curriculumNo VC experience necessaryExclusive access to VC Lab managers The LP Institute runs for 8 weeks, teaching limited partners how to source, conduct due diligence, and close on an investment in a top performing venture capital fund. The program is designed for angels, family offices, and high net worth individuals looking to increase their exposure to the venture capital asset class. Program participants will have direct access to hundreds of top emerging managers from the VC Lab accelerator. “Venture capital has been the best performing asset class for investors for over a decade,” says Adeo Ressi, CEO of Decile Group.…
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Insights LP Institute Resources Venture Institute

The VC Lab Way

The VC Lab Way is an action-oriented approach to getting involved in venture capital that merges the economic gains of the asset class with ethical stewardship. It’s not simply about finding and investing in high-growth startups in a responsible way; it’s also about making conscious investment decisions that align with broader societal values and goals.  We are here to fix the problems of the world by inspiring and supporting ethical investors to fund solutions. Time is of the essence. We need solutions now. Adeo Ressi, CEO of Decile Group, parent of VC Lab At the heart of the VC Lab Way lies a vibrant culture that champions a get-it-done attitude, resilience, and self-awareness. We believe in the power of proactive problem-solving, and we instill these values into every participant.…
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Insights LP Institute Resources Venture Capital Operations Venture Capital Strategy Venture Institute

Venture Impact Metrics

A “For Progress” company is a business directly aligned with one or more United Nations Sustainable Development Goals (SDGs), focusing on creating measurable impacts on global challenges through its mission, products, or services. This model applies to both for-profit and non-profit entities, fostering a universal impact-driven approach to business.  Initially intended for national governments, the United Nations Sustainable Development Goals (SDGs) have expanded to encompass the private sector. To accommodate this shift, an initiative led by the Founder Institute translated the SDGs into metrics called impact Key Performance Indicator (iKPIs) that businesses, startups, and venture capitalists can address. This new approach bridges the gap between the SDGs and the entrepreneurial sector, providing a framework for private entities to align their goals with global sustainability targets and measure their contribution, fostering a culture of accountability, transparency, and improvement.…
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Insights Limited Partners LP Institute

Meet Decile Capital

VC Lab is proud to announce the launch of Decile Capital, a family of funds set up to invest in promising alumni of the VC Lab program. The inaugural fund, Premier I, invests in the top 5% of new managers launched by VC Lab, which has accelerated 285 VC firms to date from 9,500+ candidates.  Premier I closed in April of 2023 and was oversubscribed. The flagship fund has already backed 6 of 20 target portfolio funds, and Premier I has plans to invest in 14 new funds over the next 12 months. Decile Capital backs funds from the VC Lab accelerator that have been accepted into our Decile Partners firm success program.  The portfolio includes an impact fund in LATAM that has backed a unicorn as well as a fund led by a leading social media influencer focused on social good, 444 Capital.…
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Limited Partners Insights LP Institute Resources

How to invest in Venture Capital

Venture capital (VC) is a critical catalyst for innovation and progress in various sectors, including healthcare, energy, financial services, artificial intelligence, and climate change. As an asset class, venture capital has consistently outperformed others over the past five years, making it an attractive investment option for those looking to diversify their portfolio and contribute to the advancement of groundbreaking technologies and solutions. This article will explore the reasons why investors should consider investing as a limited partner in venture capital funds and guide you through the process. It also includes a glossary of key venture capital terms for limited partners. Venture capital is the top performing asset class, and projections show that it will remain at the top for the next decade.…
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Limited Partners LP Institute Venture Capital Sessions

LP Roundtable

On February 14th, 2023, VC Lab hosted the first LP Roundtable event for limited partners to discuss the venture capital landscape in Q1 2023. Learn how high net worth limited partners interested in emerging managers view the world. Court Lorenzini, founder of DocuSign, and Martin Tobias, successful angel investor, discuss and debate their respective opinions on the current market conditions facing venture capital in the beginning of 2023. The turbulent markets have made investors nervous, but they have also created opportunities. Enjoy! Watch the LP Roundtable below…
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Insights LP Institute Resources Venture Institute

Project 50-50

Updated February 25th, 2026 VC Lab has a set of benchmarks and incentives to change the face of venture capital. The Project 50-50 was started in May of 2022 to ensure that there is an equal number of women working as peers to men in the global venture capital market. The initiative seeks to have women in all roles, from support staff to partners and managing partners. Before the initiative, less than 5% of leadership positions at venture capital firms worldwide were held by women. Great progress has been made, including a VC Lab program in 2024 where 42% of all graduating firms had at least one woman on the leadership team. There is more to be done. We are setting the 2026 benchmarks now, which you can contribute to below.…