Friedberg: Top VC funds returning 2.5x barely outperform the S&P 500
David Friedberg · E78: VC fund metrics that matter, private market update, recession, student loans, Bill Hwang arrest · Apr 30, 2022 · at 15:05
David Friedberg, founder of The Production Board and venture investor, reflects on his personal LP returns in venture funds compared to liquid public equities.
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“You're going to end up waiting a long time to get your money back. You're going to be locked up and a top performing fund is returning two and a half X after 15 years, which is not much better than kind of investing in the S&P where you could sell that anytime you want and use that cash for any purpose you want.”
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