Insights and updates

From emerging regulation to deal mechanics, we write about the questions founders and investors actually ask — practical analysis you can put to work.

LGPD (Brazil General Data Protection Law)

The Lei Geral de Proteção de Dados (LGPD — Brazil Law 13.709/2018) is Brazil’s comprehensive data protection statute, effective 18 September 2020 (administrative sanctions effective 1 August 2021).

Dual Licensing (Open Source + Commercial)

Dual licensing is a software distribution strategy under which the same codebase is offered under two distinct licences: typically a copyleft open-source licence (e.g., GPL, AGPL) for non-commercial or community use, and a separate commercial licence for proprietary or enterprise use.

Copyleft (GPL Open Source Licensing)

Copyleft is the open-source licensing approach pioneered by Richard Stallman and the Free Software Foundation (FSF) in 1989 with the GNU General Public License (GPL).

SEP (Standard Essential Patent)

A Standard Essential Patent (SEP) is a patent that is “essential” to a technical standard — meaning it is technically impossible to implement the standard without infringing the patent.

LP Side Letter (Mechanics)

A side letter is a supplementary agreement between an individual limited partner (LP) and the fund’s general partner (GP) that grants the specific LP terms that differ from — or supplement — the standard Limited Partnership Agreement (LPA).

GP Commit (Skin in the Game)

GP commit (General Partner commitment) is the capital that the fund’s general partner — the management team — invests into their own fund alongside limited partners.

GP Staking (Fund Manager Equity Stake Sale)

GP staking is the practice whereby private fund managers (general partners — GPs) sell a minority equity stake in their management company to a specialised institutional investor (a “GP stakes investor”).

LP Commitments (Limited Partner Capital)

LP commitments (Limited Partner commitments) are the legally binding capital pledges that institutional investors (pension funds, sovereign wealth, endowments, family offices) make to a venture capital or private equity fund at the fund’s closing.