4. VC Fund Operations
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VC Fund Operations:
The Backbone of a Venture Fund
Fund sizes and investing may get most of the attention in venture capital, but the real engine of a fund is its operations.
Fund operations are everything that happens after the fund is raised and active — tracking capital, managing the portfolio, updating investors, and ensuring compliance. Done well, operations provide the structure and transparency that make great investing possible.
There are four major areas of VC fund operations:
4.1 VC Fund Roles
The people inside the fund and what they do, from Partners and Associates to Platform team members.
We also explain the difference between the General Partner (the legal entity that manages the fund) and the Management Company (the business that employs the team).
Learn more about VC Fund roles
4.2 Portfolio Management
How funds track startup performance, decide on follow-ons, and support founders through introductions, advice, and resources.
4.3 Back Office & Fund Administration
The operational engine that handles capital calls, distributions, legal records, compliance, and audits, often with the help of an external administrator.
4.4 Investor Relations & Reporting
How funds keep LPs informed through statements, quarterly updates, and annual meetings — building trust over the fund’s entire lifecycle.
