New wave of VC funds show it’s time to rethink how many LPs is ‘too many’

Last month, Chicago-based Chalo Ventures surpassed 100 LPs. For founder and general partner Haris Khurshid, it was a notable milestone toward the firm’s goal of hitting 1,000 LPs, a number that would likely make most legacy investors wince.

But while there are a number of potential annoyances or issues that come with having a larger LP base — more people means more opinions, after all — it seems that newer funds are raising cash from more LPs than ever before. But not always by choice.