What happens if an LP needs to pull their money out before 10 years?

Venture Funds are long term investment vehicles and their structure makes it very difficult/impossible for LPs to pull their money out unless there are liquidity events such as exits. This is because your capital is directly invested in private companies and the allocation is realized when there is a liquidity event. That being said, if there are exits before, which is possible, you will get distributions right away.