Unfortunately there are few ‘standards’ in this industry danielospina and we’re trying to fix all this 🙂 VPs vs IC is not really one vs the other or one better than the other. It just really depends on the strategy you’re deploying and what your LPs want also. There are pros & cons to an IC. One con is that it’s pretty slow to make decisions and if you’re making a high volume of deals, it’s going to get in the way. On the other hand, a pro may be that it creates a system of checks and balances and it creates the ‘perception’ to LPs that you may be less risky _IF_ the committee consists of people they believe to be very capable. If you have an IC, this will typically involve external people.