No, they lost limited partners money, which is to a large degree pension money.
Not sure how much VCs coinvest in their own funds but I'm willing to bet most of their retirement funds are not in VC investments.
Not sure how much VCs coinvest in their own funds but I'm willing to bet most of their retirement funds are not in VC investments.
Then take this up with your local government then. There is a quantitative risk versus reward they take, and you should be glad that they take this bet. FYI - their portfolio mix for VC assets is usually like less than 5~10%. If a GP makes one bad bet, they hardly feel this.
> Not sure how much VCs coinvest in their own funds but I'm willing to bet most of their retirement funds are not in VC investments.
(1) most co-invest (2) no one in their right mind would put all of their assets in one VC fund. (3) if you're a partner a firm like Sequioa, you likely have a family office setup, which would follow a similar model to that of a pension fund.