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Future LPs: I'll always want to make it easy to co-invest w/me. Micro-VCs tend to be allocation-rich but capital-poor. If you're an LP way outside the VC ecosystem, you likely have the opposite prob. That makes for a potential perfect pairing! https://oper8r.substack.com/p/benchmarks-demystifying-vc-co-investing
LPs: below are reasons to co-invest with your micro-fund managers.1/better returns
2/lower fees
3/better control of investment
4/strengthen GP relationship
5/gain knowledge of industry sector
Family offices wondering why it makes sense to invest in micro-funds: some reasons 
1/efficient way to outsource deal flow + due diligence
2/improves network in venture ecosystem
3/insufficient internal resources/expertise for dd
4/ interest in leveraging relationship w/GPs
Emerging fund managers: lets work with LPs who can benefit from their investment in us the most. https://oper8r.substack.com/p/framework-not-all-lps-invest-in-emerging
Aspiring fund managers: I love this observation that @oper8rio makes: SPVs can let VCs and LPs date before getting married rather quickly. "Compared to the median of >650 days to raise a blind pool, 26 days to close an SPV should look very attractive to a VC - or an LP."
