# What is General Partner? Definition & Technical Mechanics

> **Source:** [SPIDITS AI Startup & Venture Intelligence Glossary](https://spidits.com/startup-glossary)  
> **Category:** Funding  
> **Canonical Citation:** [https://spidits.com/startup-glossary/gp](https://spidits.com/startup-glossary/gp)

## Definition
A General Partner (GP) is the managing partner of a venture capital firm who makes investment decisions, manages the fund, and takes on legal liability.

## Architectural Mechanics & Deep Dive
A General Partner (GP) is the managing partner of a venture capital firm who makes investment decisions, manages the fund operations, and takes on legal liability. GPs are compensated via management fees and performance fees (carried interest).

## Industry Applications & Real-World Use Cases
VC fund management and decision making

## Frequently Asked Questions

### What does a GP do?
GPs source deals, represent the fund on startup boards, direct investment decisions, and report to Limited Partners.

### What is carried interest for a GP?
GPs typically receive a performance fee of 20% of the fund's profits (carried interest) after LPs get their capital back.

## Related Terminology
- [venture-capital](https://spidits.com/startup-glossary/venture-capital)
- [lp](https://spidits.com/startup-glossary/lp)
- [carried-interest](https://spidits.com/startup-glossary/carried-interest)

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*From the SPIDITS AI Knowledge Base (300+ terms indexed). Explore full technical definitions: [https://spidits.com/startup-glossary](https://spidits.com/startup-glossary)*