Patient Capital Will Eat the World - by Will Manidis

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Venture capital has become a very, very big asset class.

Venture capital has become a very, very big asset class. Just a couple of weeks ago, Andreessen Horowitz announced a $15 billion in newly committed capital. This is a single fund representing a half dozen products that in aggregate make up 18% of all venture dollars allocated in the U.S. this year. The firm as a whole now manages $90 billion, neck and neck with Sequoia as the largest venture fund in the world. By my count, together, these two firms manage about 25 times the sum of dollars in total invested in the software industry from 1990 to 2004. The industry as a whole has been totally…

Patient Capital Will Eat the World - by Will Manidis

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