The limited partners who fund venture firms are defaulting. One firm is quietly buying up their distressed stakes.

The limited partners who fund venture firms are defaulting. One firm is quietly buying up their distressed stakes.

Sara Ledterman is managing partner of 3+ VenturesSara LedtermanLPs are the pension funds, family offices, and endowments perched atop the tech hierarchy.Hundreds have been defaulting on their positions, according to one VC who is buying up those stakes.VCs don't like to talk about defaults because it gives a bad market signal and risks a domino effect.During the middle of 2023, Sara Ledterman, managing partner of 3+ Ventures, was calling around …