How Can a Solo GP Best Tackle the Key-Person Clause: Is Strong IC the Solution?
One question getting asked as a solo GP is how to tackle the key-person clause. What's the best way to tackle this? Strong IC?
This will be handled in the LPA. Here is how the Cornerstone manages it for your reference:
However, you should simply reply by saying: This will be handled by the LPA and we will work on it together with LPs once we secure the necessary commitments. If you are interested in participating, please sign this commitment letter:
IMPORTANT: if they don’t sign the PACT, don’t waste more time with them.