Decile Group (VC Lab) offers a free downloadable template limited partner agreement (LPA) called the Cornerstone LPA which is a great resource for emerging managers of venture capital funds. I highlight it because it is a great way for emerging managers to familiarize themselves with the terms and structures that define how venture funds operate, to see exactly how an American Waterfall is defined, or how management fees, operating expenses, and many other terms are built into fund operating agreements.
Download the latest version of the Cornerstone LPA >
