

Why the VC Model Fails - gammarator
http://www.scribd.com/doc/92691077/Vc-Enemy-is-Us-Report

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> EXECUTIVE SUMMARY

> Venture capital (VC) has delivered poor returns for more than a decade. VC
> returns haven’t significantly outperformed the public market since the late
> 1990s, and, since 1997, less cash has been returned to investors than has
> been invested in VC. Speculation among industry insiders is that the VC
> model is broken, despite occasional high-profile successes like Groupon,
> Zynga, LinkedIn, and Facebook in recent years.

> The Kauffman Foundation investment team analyzed our twenty-year history of
> ventureinvesting experience in nearly 100 VC funds with some of the most
> notable and exclusive partnership “brands” and concluded that the Limited
> Partner (LP) investment model is broken ...

