Most first-time fund managers treat closing LPs like a mystery. Adeo Ressi, CEO of Decile Group and founder of the Founder Institute, just recorded a 10 minute breakdown arguing it is something much simpler: a sales process with known conversion rates and a known sequence, learned from helping close thousands of funds.
The full guide covers the legal workaround that lets you build an LP pipeline without general solicitation, why the managers who close the most money never use a deck, the "ask for advice, not money" opening, the five pipeline stages from lead to wired capital (and the conversion odds at each stage), and the stacking rule that explains why large LPs will not commit until your fund is four times their check.
Read the full step-by-step guide on VC Lab: How to Close a VC Fund: A Step-by-Step Guide and watch Adeo's video: How to Close Your Fund.
VC Lab, the venture capital accelerator by Decile Group, helps managers go from thesis to closed fund in 14 weeks, free. Apply at govclab.com.
