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General VC Questions

If I make an investment in Fund I with no follow-on reserves, can I follow on that investment in Fund II using the pro rata rights from Fund I?

Fund I has no reserves and is investing in Seed stage. 

In future, I hope to establish a Fund II with follow-on reserves, investing in Seed plus Series A. 

If I get pro rata rights from my investments in Fund I, can I use those rights to invest using the new Fund II? 
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The best practice is to offer that pro-rata to fund 1 LPs first via SPVs. Next, bring the investment to your LPAC to clear any conflicts. Then, make the investment. 

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