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Venture Legal

Are There Limitations on Involvement in Non-Competing Firms/Funds or Starting Them in Agreements?

Is there a place in any of the agreements where there are limitations on us being able to be involved in other non competing firms/funds? Or starting noncompeting firms/funds? I understand we can't start a fund II until X% is deployed within our own firm, but does that hold for anything external?
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The Cornerstone Agreement provides that the general partner is prohibited in engaging in conduct which could constitute a conflict of interest without Approval.  See the Conflict of Interest and Successor Fund provisions which prohibit activities that could potentially compete with the fund.

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