In many (pretty much all) funds, you can't re-invest capital earned from the fund. I recommend checking out the book 'Venture Deals' by Brad Feld and Jason Men

In many (pretty much all) funds, you can't re-invest capital earned from the fund. I recommend checking out the book 'Venture Deals' by Brad Feld and Jason Mendelson. They explain the various structures of funds, why they're structured that way, and how it influences the decisions the investors make.