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(Revised from original 2005 version)
Pawson Foundation: August 2006
A top-tier venture capital firm has encountered challenging conditions for its recent funds, which have raised "clawback" liabilities. In response, it is charging its investors the difference between the lower budget-based fee that it used and the maximum that the investors might have had to pay. A vice-president of a foundation invested with this firm must decide whether to reinvest in the firm's newest fund.
Keywords: Venture Capital;
Partners and Partnerships;
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "Pawson Foundation: August 2006." Harvard Business School Case 806-042, May 2008. (Revised from original August 2005 version.)