Toney: Anchor LPs often negotiate minimum closing thresholds into LPAs
Lo Toney · 20VC: How Fundraising For Funds Has Changed in The World of COVID, The Benefits of Managers Selling Part of Their GP & How To Think Through Your "Minimum Viable Fund Size" with Lo Toney, Founding Managing Partner @ Plexo Capital · Jun 26, 2020 · at 14:16
Lo Toney, Founding Managing Partner at Plexo Capital, discusses how LP agreements constrain venture capital fund closing timelines.
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“Often if there's an anchor LP, they anchor themselves might actually negotiate into the limited partner agreement, the LPA, that a close cannot happen until a particular threshold relative to the target size has been met or absolute number.”
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