Kathryn Dery Leung, a Managing Director at Andersen, is a contributing author of "The Tax Trap: What VC Funds Need to Know About Passive Foreign Investment Companies" featured in The Venture Fund Blueprint. The article provides an essential guide for venture capital funds investing in foreign corporations, emphasizing the importance of understanding and managing the U.S. tax implications of Passive Foreign Investment Companies (PFICs). By exploring strategies like the Qualified Electing Fund (QEF) election, the article offers actionable insights to mitigate PFIC-related tax burdens and preserve favorable tax treatments for funds and their investors.