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Venture Legal

What Extra Information Should Be Disclosed if an LP Exceeds 25% Threshold of Fund Size in Commitments?

Hello! Does anyone know what is the extra information that should be disclosed if an LP exceeds the 25% threshold of the fund size in commitments?
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Everything is defined in the LPA. As a rule, you don’t want any one LP to own 25% or greater, otherwise they control the fund. You could build in custom protections. You can read a sample and simple LPA with the Cornerstone for some examples on how the control provisions work with the Majority in Interest of the Limited Partners.

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