Sub-$200M Venture Funds Offer Asymmetric Outcomes That Established Mega-Funds Cannot Match
Bruce MacDonald · Bruce MacDonald – The Playbook for Building a Mid-Sized Endowment from Scratch (EP.495) · Apr 6, 2026 · at 52:17
Bruce MacDonald is CEO and CIO of VCU Investment Management Company, discussing portfolio construction and venture fund selection with Ted Seides.
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“We should have more managers who are at that smaller level of the fund sizes, two hundred million and below, where their outcomes could be a 50 X or an 80 X. There's good reasons to invest with established managers. You end up paying a lot in fees for returns that might be available in public markets.”
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