"VCs have a fiduciary duty to safeguard their investors’ capital and make the most appropriate decisions that align with their investors’ risk preferences and best interests. This study’s results indicate that VCs do not always perform their fiduciary duties and, at least some of them, flagrantly disregard the risk pre... See more

The venture ecosystem went from cottage industry outsider to institutional insider – from a nascent practice to a consensus component of institutional portfolios. The result has been the industrialization–and bankerization–of venture. Firms that make dozens or even hundreds of investments per year, relentlessly focused on assets under management, u... See more