How can a lead have expenses related to acquiring LPs/deals reimbursed by their fund?

The AngelList Venture template Rolling Fund documents contain industry-standard expense language regarding which expenses are reimbursable by the fund.

This generally covers all organizational and operating expenses of the Rolling Fund, such as attorneys’ and accountants’ fees and insurance.

Typically, expenses related to acquiring Limited Partners or sourcing deals would not be reimbursable by the Rolling Fund and would instead be paid for out of management fees.

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