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How to Manage a $5m Investment Offer from an LP Prospect Seeking to Become a GP in My $10m Venture Studio Fund?

How do I handle a $5m investment offer from an LP prospect who wants to become an institutional GP in my $10m venture studio fund?
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Send them a PACT and don’t over-think this. It’s a LONG way between here and them wiring money. So say: Great, here is a non-binding commitment as a next step.

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