Q1 VC investment rises, with headwinds increasing for 2023
A classic explanation of how venture capital funds operate, covering incentives, fund economics, governance, and risk allocation between founders, VCs, and LPs.
Why is relevant?
One of the most cited and enduring introductions to VC mechanics — still relevant decades later.
Author
William A. Sahlman
Publication date
November 1st, 1998
Difficulty
Beginner
Keywords
- Venture capital basics
- fund structure
- incentives
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