LP stands for Limited Partner. They are the people that actually provided the funding, but they have an arrangement where they have severely limited control (b

LP stands for Limited Partner. They are the people that actually provided the funding, but they have an arrangement where they have severely limited control (basically none) as to how the money is managed once it's part of the fund. The reason for this is because they are trusting the VC firm to actually invest their money wisely, and the VC firm needs to able to do that without constant interference from the investors. https://www.thebusinessofvc.com/blog/limited-partners-101 https://www.thebusinessofvc.com/blog/limited-partners-101