A few thoughts on Permanent Capital vs. “classical” fund structure vs. “SPACs”
In the previous post, one commentator mentioned that he was “sceptical of permanent capital” vehicles. Personally I would not support this. Berkshire Hathaway for instance is a permanent investment vehicle with quite some success. However there are other vehicles like Greenlight Re or Bill Ackman’s Persing NV which clearly have done a lousy job for shareholders as we can see in this chart: (Greenlight in yellow, Pershing Square blue):
This post is ment as a “long-term perspective” view on the sector and not a buy recommendation in the current environment.
How to invest into Venture Capital as a Private Investor
Famous VC funds
Venture Capital, i.e. the industry funding (technology) start-ups is known that almost everything depends on relationships.
It is no secret that a few funds like Sequoia or Kleiner Perkins have produced outstanding returns but these funds are “invitation only”, there are little chances even for larger institutions to invest in them and for individuals without direct connections it is more or less impossible to get in.