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De reset-knop voor venture capital
- OPINIE VAN GEORGES VAN HOEGAERDEN
24-11-2009 - Venture capital wereld
I covered the systemic risk of Venture Capital (VC) many times (see in my previous article “Less is more“ and emphasized how the passion to create disruptive innovation is the driving force of our great nation, an asset the rest of the world looks up to and I aim to protect with everything I have.
I came to this country some 15 years ago to pursue my entrepreneurial endeavors and despite my successes have seen the effects of a debilitating venture business restrict the dreams and bright future of others.
Even some of my entrepreneurial work could have yielded better financial returns, were it not for the subprime nature of some VCs (and their entourage) of whom, in an in-transparent business (read “How to fix VC once and for all“ , it is often impossible to establish their real merit (and character) ahead of time.
The Venture Dilemma
Limited Partners (Pension funds, Endowments, Family trusts etc.) who supply their money to VC in capital-calls are faced with the harsh reality that venture (the venture capital sector) has produced less than 10% IRR for the last ten years and are now asked again to buy into the rhetoric from General Partners (GPs) at the VC firm that none of this was their fault, and renew 10-year multimillion and sometimes billion dollar commitments. The question for the Limited Partner (LP) arises. Should I stay or should I go?
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