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What is the difference between general partner and partner in a VC fund?


What is the difference between general partner and partner in a VC fund?

If the venture capital fund is set up as a general partnership, the general partners accept full liability for the partnership's debts, but liability of the limited partners' liabilities is limited to the amount of their respective investments.

However, many of these entities are now set up as limited liability corporations, so a lender would have to request additional personal repayment guarantees from LLC members in order to gain recourse beyond the assets of the LLC..

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