Jason Lemkin explains differences between titles at a VC firm and why it matters to founders.

Transcript

Managing Director really needs partner, and it’s confusing these days because  especially in bigger firms, there’s been a lot of title inflation and sometimes everyone is a partner. And if you want to know who can actually write a check in a venture firm, usually look for a not just partner, but a general partner or Managing Director because actually usually there are legal distinctions that really mean you can write a check to a founder without getting a lot of permission from the other folks there.

Managing Director really needs partner, and it’s confusing these days because  especially in bigger firms, there’s been a lot of title inflation and sometimes everyone is a partner. And if you want to know who can actually write a check in a venture firm, usually look for a not just partner, but a general partner or Managing Director because actually usually there are legal distinctions that really mean you can write a check to a founder without getting a lot of permission from the other folks there.