Carried Interest

How Waterfall Distributions Work: American vs European

How VC fund profits are distributed between GPs and LPs. The 4-tier waterfall, American vs European models, and clawback provisions.

Index Ventures and Village Global: The Rise of Network-First Deal Sourcing

Index Ventures and Village Global have built scout models that put network effects at the center of venture investing. How distributed intelligence is replacing traditional VC sourcing.

Venture Capital Fund Administration: What It Is, Who Does It, and Why It Matters

Fund administration is the operational backbone of every venture fund — handling NAV calculations, capital calls, LP reporting, K-1s, and compliance. Here's what emerging managers need to know before they raise.

LP Data Room Checklist: Everything Your Fund Needs (2026)

The complete checklist of every document your LP data room needs — organized by category, with notes on what institutional LPs actually review and what signals professionalism.

MOIC: What Multiple on Invested Capital Means in Venture Capital

MOIC (Multiple on Invested Capital) is the simplest and most direct measure of investment returns in venture capital. Here's what it means, how it's calculated, what good looks like, and how it differs from IRR.

How to Write an LPA: The Limited Partnership Agreement Guide for Fund Managers

A practical 2026 guide for venture capital and private equity fund managers on drafting, negotiating, and operating under a Limited Partnership Agreement (LPA): key sections, ILPA standards, costs, lawyer selection, and common mistakes.