Demystifying Valuation Clauses in LPAs for Emerging Managers
Equidam
JULY 23, 2025
In this comprehensive guide, we’ll break down what exactly goes into a valuation clause, why it matters for transparency and governance, and how expectations have evolved (especially after the 2022 market correction that shook startup valuations). We’ll compare how different model LPAs handle valuation, including actual clause examples.
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