Can someone explain this to me like I'm five? The more I read heading into the VC Lab Accelerator the more I feel like a dunce. It seems like everyone is a partner, but what are they doing, I know I am the General Partner and will be responsible for the first fund and distribution of capital. and I know that Limited Partners will be my source of capital. But what about everyone else? 

Venture Partner? Not a clue
Principal? Thinking this is like a GM or a Director of Product?
Managing Partner? Thinking this is like a COO
Venture Associate? This I can approximate from investment banking associates
Similar to IB, are there VPs of the same style in venture capital?

I might be putting the horse in front of the cart here but i want to make sure i am talking the talk at all events. 

My goal is to really blow this out of the water, so looking down the road to multiple funds with hundreds of millions in AUM what roles should i be considering for proper organizational structure? Are there any case studies on this? How should I go about breaking apart responsibilities so there is collaboration but no toe-stepping. 

Cheers, Eager to Succeed