# General Partner

*Startups & Venture Capital — Finicade finance glossary*

The general partner manages a fund: sourcing deals, making investment decisions, sitting on boards and running the exit. GPs earn a management fee, typically around 2% of committed capital, plus carried interest. They also commit their own money to the fund — the GP commitment — precisely so their incentives sit alongside their investors' rather than opposite them.

**Also known as:** GP, fund manager, managing partner

**Related terms:** [Limited Partner](https://finicade.com/glossary/limited-partner), [Carried Interest](https://finicade.com/glossary/carried-interest), [Fund Vintage](https://finicade.com/glossary/fund-vintage), [Dry Powder](https://finicade.com/glossary/dry-powder), [Fiduciary Duty](https://finicade.com/glossary/fiduciary-duty)

Source: https://finicade.com/glossary/general-partner