How to choose a syndicate and help entrepreneurs.
One argument for venture capital returns being, on average, better in the earlier days of the industry is the relative lack of capital combined with entrepreneurial ignorance about how to negotiate or structure terms.
As the venture industry matures, however, this argument no longer holds water. Although the proportion of money committed from non-government limited partners to independent venture capital funds continues to fall from its highs around the turn of the millennium, there has been growth in money flowing…
