Top Ten Limited Partner (LP) Lies
Paul Kedrosky has published another great Top Ten list, following on his previous Top Ten VC Lies. This time it's the Top Ten LP Lies. I'll give you the first five, but you'll have to visit Paul to see the rest...
10: We don't invest in first or second funds, see #1
9: We have committed this years allocation
8: We don't believe in this asset category unless we can get into Sequoia
7: My committee would never let me do a deal outside of the valley
6: Our diligence is very deep (bottomless unless you are about to close and any of my close LP friends are in)
Check out Paul's blog for the top 5...
BTW: If you have questions about any of these, or the VC lies, ask away in my comments. I don't agree with all of them, but they are good conversation starters...
10: We don't invest in first or second funds, see #1
9: We have committed this years allocation
8: We don't believe in this asset category unless we can get into Sequoia
7: My committee would never let me do a deal outside of the valley
6: Our diligence is very deep (bottomless unless you are about to close and any of my close LP friends are in)
Check out Paul's blog for the top 5...
BTW: If you have questions about any of these, or the VC lies, ask away in my comments. I don't agree with all of them, but they are good conversation starters...
Labels: lp, paulkedrosky, vc 2.0, vcfaq
Posted by VC Dan | 5/03/2007
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Comments (3)
Wow, VCs do a fabulous job of resembling their customers.
funny guy, funny guy -- maybe you can take a shot at the Top Ten Entrepreneur Lies ;-)
I'll start you off with "These projections are built on very conservative assumptions" or maybe "We're only interested in funds that bring value beyond their dollars -- like you guys!"
except it wasn't paul's list
he said he got it from someone else and wanted to "share it" with the rest of us
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