Investment committee

The group inside a fund that formally approves an investment, usually the partners.

Example

A partner champions your deal and then has to take it to Monday IC for approval.

A partner who loves you still has to convince the room. Ask where in that process you are — it explains delays that otherwise look like disinterest.

General partner (GP) — The people who run a venture fund, make the investment decisions and sit on boards.
Venture capital (VC) — Professional investors who manage a fund of other people's money and invest it in high-growth startups in exchange for equity.
Fund — A pool of committed capital with a fixed life — typically ten years — that a VC invests and then returns to its LPs.
Due diligence — The investigation a serious investor or acquirer runs before completing a deal — financial, legal, technical, commercial.