If I'm understanding you correctly, a capital call is a commitment to provide the capital if the VC firm requests it. I thought it was also a commitment on the

If I'm understanding you correctly, a capital call is a commitment to provide the capital if the VC firm requests it. I thought it was also a commitment on the part of the VC firm to find investments. So VCs will have smaller Capital Calls until the market picks up again. I suspect some VCs will get greedy as their Carry is tied to the amount invested, but the smart ones will play the long game.