Capital Call
定義
A capital call is a fund’s formal request for its limited partners to transfer a portion of their committed capital, made when the fund needs cash for investments or fees.
資金調達における位置づけ
VC funds do not hold all committed money in cash; they call capital from LPs as deals close, which is why fund commitments and deployed capital differ.
よくある質問
Why do capital calls matter to founders?
Mostly indirectly: a fund late in its life or struggling with LP defaults may slow new investments, affecting whether it can actually lead your round.
What happens if an LP misses a capital call?
Fund agreements impose penalties up to forfeiting part of the LP’s stake; persistent defaults can constrain the fund’s ability to invest.