Whenever I see articles like this I come back to Calpers venture returns over the last 20 years:
> Calpers' venture returns have been historically lackluster. From 2000 to 2020, its venture performance was a dismal 0.49%, compared to 11.59% in buyouts. Calpers declined to comment.
> Calpers' venture returns have been historically lackluster. From 2000 to 2020, its venture performance was a dismal 0.49%, compared to 11.59% in buyouts. Calpers declined to comment.
https://pitchbook.com/news/articles/calpers-venture-asset-cl...
How LPs didn't take a step back and ask, "does this strategy work?". I don't know.