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It obviously won't have 'no effect' on grandma, but generally speaking, grandma's pension fund, if managed competently, will only invest a small percentage of portfolio in venture firms. The effect is therefore limited to a small amount of the portfolio.

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Yes grandmas pension (assuming she is old - technically a 28 year old could be a grandma) fund should be erring on the side mostly of low risk cash-like assets.

I see. That makes sense. But is there some sort of analysis/blog to show what is the concentration of institutional investors in VC? I can only find figures about total VC funding which seems to be around $200B over the last 4 years. I have a hard time believing more than 30% of that is private money, thus starting this thread.

~50B a year is chump change.

US retirement assets hit 208 Trillion.

http://www.pionline.com/article/20130626/ONLINE/130629908/ic...

Just to put it in perspective, $50B/year is approximately one-third of what the US Military (all branches combined) spends on salary for its 3.2 million employees. It is approximately half of what China spends on its entire military, including weapon systems, procurement, etc. It is 0.27% of US GDP.

We live in an era of inflated asset values. $50B/year is NOT chump change when it comes to actual deployed capital flows.

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