𝐖𝐡𝐚𝐭 𝐫𝐞𝐚𝐥𝐥𝐲 𝐝𝐫𝐢𝐯𝐞𝐬 𝐋𝐏 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐦𝐚𝐤𝐢𝐧𝐠?

A closer look at how priorities differ across investor types

At ekwithree, we believe that understanding LP preferences is critical to building lasting partnerships. Our recent insights show that while all LPs care about trust and performance, what they prioritize - and how they define value - varies widely by type.

𝐊𝐞𝐲 𝐨𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬:

🔹𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬, who control the majority of LP capital, focus heavily on track record and team expertise - they care less about deal flow access or networks.

🔹𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞𝐬 have shifted in recent years: now placing more weight on track record and often negotiating bespoke terms.

🔹𝐅𝐚𝐦𝐢𝐥𝐲 𝐨𝐟𝐟𝐢𝐜𝐞𝐬 value network access and team expertise, and typically seek early relationship-building.

🔹𝐇𝐍𝐖𝐈𝐬 tend to favor softer factors like integrity and “how to win deals,” placing less emphasis on formal track records or team credentials.

📊 Even though metrics like IRR and TVPI matter, many LPs - especially non-institutionals - look for something deeper: trust, alignment, and differentiated access.

This tells us something important: Raising capital isn’t just about performance data - it’s about knowing your audience and speaking their language.

And what do you think?