VCs raise funds from LPs that typically range from the hundreds of millions to single digit billions. They need to return money on those huge funds, which means

VCs raise funds from LPs that typically range from the hundreds of millions to single digit billions. They need to return money on those huge funds, which means they care more about absolute returns than a large percentage return. In other words, given the choice to invest $10M and get back $50M or invest $100M and get back $200M, they'd definitely prefer the second deal (assuming equal risk).