Usually yes, but not necessary. A lead, typically sets the deal terms and does most of the diligence. They also find co-investors.
Join VC Lab
VC Lab, the leading venture capital accelerator, empowers new and emerging managers worldwide to close ethical, high-performing funds in under six months. The program provides cutting-edge tools, expert mentorship, and a global network to raise more money in less time. Apply if you want to build a meaningful venture capital firm.