| | Healthcare Industry | PPOs
Direct Venture Partner (DVP): Role, Structure & VC Context
DVP (Direct Venture Partner) is a role within venture capital where an individual invests personal capital directly into startups alongside—or independent of—their firm's fund.
Structure & Economics
- Firm affiliation: Often a General Partner, Venture Partner, or Senior Advisor at a VC firm.
- Personal capital: Deploys own money (not LP commitments) into portfolio companies.
- Deal access: Sources deals through firm network, personal brand, or founder relationships.
- Carry/Fees: May earn carry on personal investments; typically no management fee on personal capital.
- Sidecar / SPV: Often structured via Special Purpose Vehicle for each investment.
Why Firms Encourage DVPs
- Signal conviction (skin in the game).
- Expand deal flow beyond fund capacity.
- Retain top talent (entrepreneurial upside).
- Build track record for future fund-raising.
Contrast with Related Roles
| Role | Capital Source | Decision Authority |
|---|---|---|
| General Partner (GP) | Fund (LPs) | Investment Committee |
| Venture Partner | Fund (usually) | Advisory / deal-specific |
| Direct Venture Partner | Personal | Autonomous |
| Angel Investor | Personal | Autonomous |
| Scout | Fund (micro-grant) | Referral only |