>I don't pensions funds would invest in Start-UPs since they have a low risk threshold. You seem to be mistaken. Here's a 2014 article titled "Behind the Ventu

>I don't pensions funds would invest in Start-UPs since they have a low risk threshold. You seem to be mistaken. Here's a 2014 article titled "Behind the Venture Capital Boom: Public Pensions" from Bloomberg. Specifically, the article claims (sourcing a Dow Jones report) that "In 2014, they contributed 20 percent of the sector’s overall haul, down slightly from a 25 percent contribution in 2013." It's not that a massive fraction of each pension fund is in venture capital, but a sizable chunk of the money in venture capital is from pensions. https://www.bloomberg.com/news/articles/2014-09-23/are-public-pensions-inflating-a-venture-capital-bubble https://www.bloomberg.com/news/articles/2014-09-23/are-publi...