The Triumph of Hope over Experience

Reports supporting the poor performance of the venture capital industry are queuing up. The most recent report (May 2012) from the Ewing Marion Kaufmann Foundation is no news, but scary reading: Venture capital (VC) has delivered poor returns for more than a decade. VC returns haven’t  significantly  outperformed  the  public  market  since the late 1990s, and, since 1997, less cash has been returned …