[davemc500hats]

we believe we are performing far above average, actually... both in IRR, exits, black swans, and other areas. that said, we are less than 5 years old and most VC funds don't have much measurable results until 4-8 years in.

our first fund is performing at 18% Net IRR (which includes fees; I think the WSJ #s were actually Gross IRR, which would be higher for our fund as well, and likely considerably above mean).

regardless, our second fund is performing at 27% Net IRR, which is performing considerably higher than median 6% IRR as reported by WSJ / Cambridge.

our third fund is still very early (just over 1 year old), however it seems we are performing over 30-40% IRR (44% currently).

so overall: - our funds are performing substantially above median - our performance appears to be increasing over the past 3 funds - I doubt that most LPs have turned us down because occasionally I use some 4-letter words...

thanks,

DMC

[antr]

Dave, thanks for the clarification and insights. Your comment provides a much better insight into the fund. Thanks