Limited Partners (LPs) are vital in the venture capital (VC) ecosystem, providing essential funding for startups. Due diligence is crucial for LPs to evaluate VC fund viability and alignment with their investment goals while managing inherent risks in VC, such as high failure rates and volatility. This process involves assessing the fund’s strategy, the fund manager’s track record, portfolio diversification, and potential conflicts of interest. Effective due diligence helps align expectations between LPs and fund managers, facilitating informed investment decisions. Understanding VC-specific risks and governance practices is essential for LPs to safeguard their investments and ensure long-term stability.