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Fortune
Fortune
Anne Sraders

VCs say these are the top red flags to watch out for in LPs

(Credit: Courtesy of Eric Bahn)

Eric Bahn has sat through some bad meetings with prospective investors in his funds. He says he’s had limited partners, or LPs, ask his female colleague how she’s able to run a VC firm while being a mother. He says he’s had LPs ask for too big a share of his firm’s pie in exchange for their check. And he says he’s even had some LPs hit on his female fellow general partners.  

“We’ve spoken to thousands of LPs at this point, from high net worth [individuals] to some institutions,” Bahn, cofounder and general partner at pre-seed VC firm Hustle Fund, which has about $150 million in total assets under management, told me this week. “We've seen a bunch of characters along the way—most are really sweet, some are terrible.” 

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