What was it about FTX's lack of internal controls or experienced decision-makers which only TVG was able to identify as a source of value?
Sequoia, Third Point Iconiq etc. Coinbase Ventures gave them money. Blackrock was an investor.
If you want to see FTX as an indictment of the entire venture industry I think there is an argument to be had there. But picking on OTP is just a lazy rhetorical device. They made a similar investment to other funds in the industry they are in, that was a reasonable size of their portfolio in an investment style known to be risky.
Your fourth example, Blackrock, is tellingly neither a seasoned venture fund nor an experienced crypto investor.
https://www.otpp.com/en-ca/investments/our-investments/teach...