Too Long; Didn't Read
Venture funds have <a href="http://www.institutionalinvestor.com/blogarticle/3428857/blog/the-new-reality-of-the-14-year-venture-capital-fund.html#.WPVsBFPyu88" target="_blank">long life spans</a>, they’re <a href="https://a16z.com/2016/09/01/marks-offmark/" target="_blank">marked</a> in mysterious ways, and the returns of the portfolio investments follow the 80/20 rule (<a href="https://www.cbinsights.com/blog/venture-capital-power-law-exits/" target="_blank">though 99/1 may be closer to the truth</a>). They technically fall under the private equity umbrella (they’re private… and they’re equity investments), but require a much different approach or mindset — one not necessarily conferred upon an investor when he or she attains the CFA or CAIA designation.