Fund Life

Venture Capital KPIs: 20 Metrics Every GP Should Track

Most GPs are flying blind. Here are the 20 VC KPIs that separate disciplined fund managers from everyone else — with benchmarks, formulas, and why each one matters.

50+ Venture Capital Interview Questions by Role (With Sample Answers)

Preparing for a VC interview? Here are 50+ real questions organized by role — Analyst through GP — with sample answer frameworks from people who've been on both sides of the table.

General Catalyst and First Round Capital: How Two Firms Are Building Tomorrow's VC Pipeline

General Catalyst's Venture Fellows and First Round's Angel Track take radically different approaches to training the next generation of venture investors. Both are working.

Side Letter Best Practices for Emerging Managers: What to Grant and What to Avoid

A practical guide to VC side letters for emerging managers: what they are, which provisions are standard, how MFN clauses really work, what to push back on, and how to avoid the most common mistakes that can haunt a fund for its entire life.

How Capital Calls Work: What LPs Need to Know About Fund Drawdowns

When you commit capital to a VC fund, you don't wire the full amount upfront. You respond to capital calls over time. Here's exactly how that process works — and what happens if you don't pay.

TVPI: What Total Value to Paid-In Means in Venture Capital

TVPI (Total Value to Paid-In) is the primary fund performance metric used by LPs and VCs to measure total return — both realized and unrealized — relative to capital invested. Here's what it means, how it's calculated, and what benchmarks matter.