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How to plan for general partner succession
The succession process requires an open and genuine dialogue between the senior retiring and incoming management teams.
An engaged, energetic, committed, and hungry venture management team is as vital at the end of the fund as it is at the beginning. [The succession process] requires an open and genuine dialogue between the senior retiring and incoming management teams. The process needs to be triggered by the GP’s recognition that a long-term team development plan is required, not due to LP questions during fundraising.
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