India, Feb. 17 -- This article is part of our 10-part series, Insider Secrets: What LPs Must Know to Invest in VC Funds in India, where we decode key insights for navigating this asset class with confidence.

LPs have specific legal protections embedded within fund documents and regulatory frameworks. These protections ensure transparency, fiduciary responsibility, and fair treatment.

Key Legal Protections for LPs

Limited Liability Protection: LPs are protected from direct liability beyond their committed capital.

Right to Financial Disclosures: LPs have the right to receive periodic financial statements and performance reports.

Right to Approve Material Changes: Any significant changes in fund strategy or governance typically require...