After bringing you two slideshows that focused on the best-performing funds backed by the University of Texas Management Co., it’s time to “keep it real” by sharing the biggest losers.

(PeHUB subscribers can see our two previous slideshows here: UTIMCO in 17 Active Funds with IRRs > 25%, Union Square … Other Early Stage Tech VCs Kick Ass for UTIMCO.)

We took a look at returns for all of UTIMCO’s active funds and found 10 that were at least a decade old and had negative internal rates of return as of May 31. The university pension fund invested a total of $176.2 million in those vehicles. In return, UTIMCO has received cash distributions of just $55.7 million (or less than one-third of what it put in). And it has no hope of breaking even on those bets — since the remaining funds are currently valued at a combined $39.7 million.

When looking at the 10 funds as a group, a few patterns emerge:

• Eight of the 10 are venture funds.
• Two firms had the ignominious distinction of having two funds on the list: Austin Ventures and Crescendo Ventures.
• The oldest fund on the list is a 1996-vintage fund focused on small buyouts: Beacon Focus Value Investors.
• And only one fund hasn’t returned a dime of capital to UTIMCO: Band of Angels.

Here, then, are the biggest dogs in UTIMCO’s kennel:

(Photo of basset hound by caimacanul/Shutterstock.)

Related posts:

1. Slideshow: UTIMCO in 17 Active Funds with IRRs > 25%
2. Union Square, Other Early Stage Tech VCs Kick Ass for UTIMCO (slideshow)
3. Slideshow: UTIMCO’s Top 5 Venture Capital Investments
4. Slideshow: UTIMCO Holds 7 Austin Ventures Funds, 4 of Which Have Negative IRRs
5. Slideshow: IRRs for Eight Morgenthaler Funds, Courtesy of UTIMCO