Last week, peHUB reported on what sources told us was the cause of some big-name GPs’ big-time problems—first-timers! First-time VC vintages have been gobbling up a substantial portion of LP capital, and as limited partners push away from the asset class—in part thanks to returns that haven’t paced well with public markets—sources predicted these new funds would increasingly compete with Silicon Valley mainstays for deals—and, for future LP commitments. Here are some highlights from the last few years.
The first fund for Mithril Capital Management, Mithril LP, named in fact thanks to Lord of the Rings, was a whopper. This one reeled in a stunning $402 million, according to Thomson Reuters data. But can you blame LPs for piling in? Thiel didn’t just know when to buy into Facebook—he also knew when to stop believing the hype.
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