·10 min read
How a Family Office Diligences a First-Time VC Fund: The LP-Grade Checklist for Fund I
A Fund I deck has no TVPI column to check. Here's the LP-grade checklist a family office uses to diligence a first-time VC manager: what substitutes for track record across all 6 fund dimensions, the 3 questions that separate a fundable Fund I from a pass, and why ESVCLP status belongs in the first screening pass, not the tax review.