How do I become an LP in a VC fund?
Don’t do it.
Being an “LP” or an investor in a VC fund does not make sense for 99.9% of individuals.
Yes, a hot startup can return 100x or more of your angel investment. But a Top Quartile VC fund will only do 2x-3x … after 10–15 years. And your investment will be close to 100% illiquid during those 10–15 years.
That profile (2x-3x returns, close to 0% liquidity, 10+ year timelines) can make sense for very large institutions with huge amounts of money to manage. There, timelines and liquidity matter less than the opportunity to outperform the markets by 20%-30%.
But they likely matter to you.