How LPs Can Negotiate Favorable Terms with New GPs in 2026
The population of first-time fund managers has grown substantially. Between 2020 and 2024, 41.9% of GPs had no prior VC experience. By 2025, that figure had climbed to 49.6%. So, roughly half of all active GPs are managing a fund for the first time. For limited partners, this shift is a signal to approach fund …