What is a general partner at a VC firm?

A general partner is an owner-operator of a venture fund: GPs raise the fund from limited partners, make and manage its investments, sit on boards, and bear legal responsibility for the partnership. 'The GP' also names the management entity itself.

GPs earn management fees and carried interest, and are expected to invest their own money in the fund (the 'GP commit', often 1–2% of fund size) so their downside is real. Titles below GP — principal, partner without the economics — vary widely; founders should know whether the person across the table can actually commit the fund.