pension funds

“There are some groups that are very, very large LPs, and they just want stability, right? They will never invest in a fund one or a fund two, but they love the idea of investing in fund three, four, five or plus, or more with a team that's been together for a …”

“So one of the problems is that if you look at where's the money coming from into the US VC industry, there's so many more LPs, the big pension funds are putting money in, the university endowments are putting money in, and that's not really the case in Europe.…”

“We don't have enough retail participation in the UK. We don't have enough institutional participation from the pension funds. So I do think UK stock market is subprime in that sense.”