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What's the difference between a Co-Founder and a Secondary Advisor?

A Co-Founder has equal standing; a Secondary Advisor has slightly more limited privileges and cannot name a successor Primary Advisor.

A Co-Founder establishes the fund alongside the Founder and has equal standing. A Secondary Advisor is appointed after the fund is created and has slightly more limited privileges — for example, a Secondary Advisor cannot name a successor Primary Advisor. If you and your spouse want equal standing on the fund, consider adding them as a Co-Founder here.