Hacker News new | comments | show | ask | jobs | submit login

How do you get into this line of business, do you need to have a lot of connections to Wall Street already?

In my case: I knew a guy who wanted to start a venture fund, and he focused on an area that appealed to me (mix of IOT, healthtech, weird stuff). I qualify as an accredited investor (in the US). And I have a small amount of money I'm willing to set fire to in the hope that a chunk of it has excellent returns. So far across three funds (with same GP), Fred Wilson's 33/33/33 split is holding true.

An individual LP in a fund is typically just a wealthy person. Historically the term was an accredited investor which was a legal definition that set minimum wealth/income standards. This changed recently with the JOBS act but I haven't kept up with the latest requirements. Often times they are former entrepreneurs or high income individuals (lawyers, doctors, corporate VPs, senior engineers etc).

Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact