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Venture Deals

Is This the Right Process for Closing a Seed Fund Deal: Selection Committee, DD, and IC with Independent Members?

On steps to close a deal in a seed fund: yes or no for the below? Step 1: selection committee Step 2: DD Step 3: IC with independent members.
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This depends on whatever process you want and whatever your LPA says. Most new managers make all of the investment decisions unless there is a conflict of interest, and then an LPAC (Limited Partner Advisor Committee) needs to approve. Again, this is dependent on the LPA. Read the Cornerstone LPA if you are interested in learning more.

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