Seen it referenced a few times, some digging around will get you there. Also an angel investor spoke at my university about how they invest, and mentioned retur

Seen it referenced a few times, some digging around will get you there. Also an angel investor spoke at my university about how they invest, and mentioned returns of 23%/24% annualized if I recall - but this was asterisked with "your portfolio of companies must be greater then 20 - any less and you risk losing everything". And, your money is essentially "locked" for 5-10 years (can only get your cash when there is a liquidity event - if one happens at all) Found this: http://www.industryventures.com/2017/02/07/the-venture-capital-risk-and-return-matrix/ http://www.industryventures.com/2017/02/07/the-venture-capit... And: http://www.angelblog.net/Venture_Capital_Funds_How_the_Math_Works.html http://www.angelblog.net/Venture_Capital_Funds_How_the_Math_... But given there are many different flavors, sizes, vectors etc of VCs, and given many keep their numbers hush, hush - I wouldn't even know where to look for any kind of "official" numbers on it.