General Partner
Also called GP
The general partner runs a venture fund: raises it from LPs, decides which startups to back, sits on boards, and earns a management fee plus carried interest.
Why it matters
The GP is who you actually pitch and partner with. Their incentives, fund size, carry, and where they are in the fund's life, quietly drive how they will behave as your investor.
For example
The general partner sources the deals, sits on the boards, and earns carry, while the LPs simply provide the capital.
Go deeper
Related terms
Also in Starting Up
See how founders actually handle this on Raising your first round, part of the Starting Up hub.
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