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← Glossary
VC & Fund Mechanics

Fund / vintage

A fund is a single pool of LP money invested over a few years; its vintage is the year it started.

Why it matters

GPs raise a new fund every few years; vintage matters because returns are heavily shaped by the market you invested into.

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Episodes on Venture Capital

Trust Over Likability: How Charles Hudson Built a 450-Company Portfolio

First Cheque with Cheryl Mack & Maxine Minter · 31 August 2026

Trust Over Likability: How Charles Hudson Built a 450-Company Portfolio
Sidecars 101: Why Venture Funds Are Investing on the Side

First Cheque with Cheryl Mack & Maxine Minter · 17 August 2026

Sidecars 101: Why Venture Funds Are Investing on the Side
Eric Ries on What Investors Get Wrong About Governance

First Cheque with Cheryl Mack & Maxine Minter · 3 August 2026

Eric Ries on What Investors Get Wrong About Governance
All Venture Capital episodes →
Related terms

Limited partner (LP)

The investors in a VC fund — super funds, family offices, endowments, wealthy individuals — whose money the GPs deploy.

Dry powder

Committed capital a fund has raised but not yet invested.

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