VCs don't have wealth, the people with money are called LPs or angels. I also don't know the particulars in this case, but they're usually pension funds rather

VCs don't have wealth, the people with money are called LPs or angels. I also don't know the particulars in this case, but they're usually pension funds rather than individual rich people. (Which does mean VCs are stealing from pensioners by taking a lot of fees to invest in something worse than an index fund.)