CalPERS, the California $220B pension fund trims the selection of firms getting Venture money to a few. And with the Venture demi-cartel swirling further into its subprime maelstrom CalPERS judged deservedly so, with many other pension funds to follow. We hate to see Venture moneys decline, but not its subprime allocation.
VC investors need to learn how to apply risk correctly before they are allowed again to invest the people’s money, and reduce the rampant false positives and false negatives their ill-fated arbitrage has produced.
[Links: PEHub]
