Operationally, the fund usually does **not** just end.

- The **LPA controls** the process through a **key person / key individual clause**
- If triggered, it often:
- **pauses new investments**
- may **pause future capital calls**
- allows ongoing **portfolio management and admin** to continue
- LPs may have rights to:
- approve a **successor**
- appoint a replacement
- vote on **wind-down or GP removal**, depending on the documents

For solo GPs, this is why a written **succession plan**, backup decision-making support, and clear governance matter.

References:
- https://decilehub.com/base/1-general_questions/163513-what-happens-if-a-solo-gp-single-key-individual-becomes-incapacitated-does-the-fund-just-end
- https://decilehub.com/base/1-general_questions/163683-when-can-the-gp-be-removed