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Quiet hiring, Semafor’s $10M SBF buyback + M3GAN and The Last of Us with Lon Harris | E1661
This Week in Startups
LPs Can Sue for Gross Negligence
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The way it works now is that LPs can sue for gross negligence, which covers reckless or purposeful acts. According to Politico, these rules in fact would not just apply to VCs, but also like you said, PE firms, hedge funds and real estate investors. Right now, you probably wouldn't be sued for the minimal diligence part. But if the rules change, it would expand liability to simple negligence.
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