That's not true. The investors get a percentage of the returns from the startups funded with that money. When the money runs out, the deal ends. This is how

That's not true. The investors get a percentage of the returns from the startups funded with that money. When the money runs out, the deal ends. This is how all funds work. A university that invests in a fund managed by VCs doesn't get part ownership of the VC firm. They get part of the returns from the startups funded with the specific pool of money they contributed to.