Sort Roles in the VC Fund Flow

Place each action with the actor who normally performs it in the VC fund flow. Limited partner GP or VC firm Startup company Commits capital to the fund before investments are made Receives distributions when the fund realizes cash proceeds Issues capital calls when money is needed for investments or expenses Sources deals and decides which startups receive checks Helps portfolio companies with hiring, customers, strategy, and follow-on rounds Uses investment capital to build products, hire, sell, and grow Issues equity or future-equity rights in exchange for investment May create liquidity through acquisition, IPO, or secondary sale

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