What LPs Want from VC Fund Managers

Most founders know the pressure of fundraising, but what many don’t realize is that venture capitalists have to fundraise too. Behind every investment is a group of limited partners (LPs) whose expectations shape how funds operate, the kinds of companies they back, and even the way they communicate with founders.In this episode of High Stakes, host Paige Soya (Managing Partner, K Street Capital) sits down with Nasir Qadree, Founder and Managing Partner of Zeal Capital Partners, to explore what LPs really want from VC fund managers and why it matters.They cover:What LPs look for when deciding whether to re-up with a fundWhy many institutional investors are leaning into emerging managersHow individual LPs think about risk, liquidity, and the “long game” of ventureThe difference between being an investor and being a fund managerWhy strong communication, transparency, and firm-building matter just as much as returnsNasir also shares lessons from raising Zeal Fund II, the importance of aligning with LPs beyond capital, and why DC is uniquely positioned to create category-defining companies.If you’ve ever wondered how LP priorities shape the venture ecosystem (and ultimately, what gets funded), this episode offers a candid inside look.