Amending the limited partnership agreement (“LPA”) of a venture capital fund is rarely a simple exercise. While LPAs are designed to provide a degree of flexibility over the life of a fund, the process of obtaining the necessary limited partner (“LP”) consents can be time-consuming, technical, and, at times, unpredictable. As investor bases become more diverse and fund structures more layered, what might appear to be a straight forward amendment can quickly devolve into a complicated coordination effort. READ MORE