This has been a traditional «renewal» strategy that I experienced in prior firms. (highperformancecounsel.com)
When they do consider first - time funds, they traditionally require what's known as an «attributable exited track record» of returns.Which translates to GPs who've already worked at prior firms as the investment decision - makers and long enough for the underlying portfolio companies to have been acquired or IPO'd (traditional funds are 10 - 12 years long to accommodate for the time it takes for the portfolio companies to exit.) (truewealthvc.com)
Now don't get me wrong, as an investment actuary at prior firms, I took on complex projects that no one else could do, and I did them not for any bonus that I might receive, but just to do my best. (alephblog.com)