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Note that this is "committed $1 billion", not funded. "although we expect to only spend a tiny fraction of this in the next few years."
by ipsum2 11y ago
Note that this is "committed $1 billion", not funded. "although we expect to only spend a tiny fraction of this in the next few years."
- chimeracoder 11y ago> Note that this is "committed $1 billion", not funded. That same caveat could apply to any fund raised by a venture fund - usually funds are committed, and the actual capital call comes later (when the funds are ready to be spent). It's an important caveat in some circumstances (e.g. it hinges on the liquidity of the funders, which may be relevant in an economic downturn), but in this one, I'm not sure it really makes a difference for this announcement.