Posted under Venture Capital
from http://www.bothsidesofthetable.com/ 830 days ago

This article originally ran on PEHub. If you prefer the super short version – I’ve summarized the post in the final section.

Many observers of the venture capital industry have questioned whether its best days are behind it.  They are frustrated by the past decade of subpar returns for the sector.  The most recent report to weigh in on the troubles of the industry was produced by the esteemed Kauffman Foundation.

There are obvious reasons the industry has had less-than-desirable returns, including: massive over-funding of the sector, huge increases in inexperienced venture capitalists that took a decade to peter out, and the massive correction in the value of the public stock markets that closed many exit opportunities for half a decade.

I can’t help feel a bit of rear-view mirror analysis in all of “VC model is broken” bears in our industry. I have been close to the tech ...

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