In recent years, we’ve seen some of the biggest names in venture—Andreessen Horowitz, Lightspeed, General Catalyst—register as Registered Investment Advisors (RIAs). But is this really the future of venture capital, or just a strategic fork in the road for certain funds?

In this episode of Venture Wisdom, I sat down with Yoni Tuchman (Partner, DLA Piper) and Jessica McKinney (Associate, DLA Piper) to unpack:
✅ What being an RIA actually means for a VC or PE firm
✅ Why some funds choose to register (and why most don’t need to)
✅ The role of exemptions—and when you can (and can’t) rely on them
✅ How investment strategy shifts (e.g. secondaries, public positions, crypto) influence the decision
✅ The compliance + operational impact of RIA registration
💡 Key takeaway: Becoming an RIA isn’t about replacing venture—it’s about enabling strategic flexibility when your investment approach moves beyond the VC exemption limits.

🎙️ Whether you’re a GP, LP, fund counsel, or just tracking where the industry is headed, this conversation breaks down the real decision-making process.

👉 Listen to the full episode now.

#VentureCapital #PrivateEquity #RIA #FundManagement #Regulation #Compliance #Secondaries #VCStrategy