Venture Capital, LP, is a limited partnership. A Venture limited partner loses his or her limited liability if he or she

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Limited partners in a limited partnership such as Venture Capital LP have limited liability protection as long as they do not participate in the management of the firm. If a limited partner takes on managerial responsibilities, they lose their limited liability protection and become fully liable for the partnership's obligations. Therefore, if a Venture Capital LP limited partner acts as the firm's manager, they lose their limited liability protection. None of the other choices listed would result in a loss of limited liability protection for a limited partner.

Venture Capital, LP, Is a Limited Partnership