> This is basically saying, "Let's package together a bunch of volatile high-risk, high-return investments in a completely unregulated market and sell that to p

> This is basically saying, "Let's package together a bunch of volatile high-risk, high-return investments in a completely unregulated market and sell that to people". 1. Your "unregulated market" claim is baseless. This fund, which is no different than any other venture capital fund, has registered with the SEC in accordance with Regulation D. You can find the filing on the SEC website. 2. Angel investing is not exactly "high-return" these days. See http://gust.com/blog/2012/03/27/the-reality-of-returns-on-angel-investment/ http://gust.com/blog/2012/03/27/the-reality-of-returns-on-an... and http://rightsidecapital.com/assets/documents/HistoricalAngelReturn.pdf http://rightsidecapital.com/assets/documents/HistoricalAngel... for some data points. For reference, the S&P 500 gained nearly 30% last year. 3. In regards to your overall concern that people are being sold "volatile high-risk, high-return investments", consider that there are variety of leveraged products, including triple-leveraged ETFs and double-leveraged ETNs yielding 15-20% annually, that retail investors can purchase on major stock exchanges. Notwithstanding the fact there's nothing inherently wrong with "volatile high-risk, high-return investments" and there is a place for them in many portfolios, picking on a tiny pseudo-fund of funds targeting accredited investors is not the most effective way to make your argument. 4. As for "Silicon Valley financiers are beginning to think like Wall Streeters", the notion that Silicon Valley venture capital has somehow existed in isolation until now is simply not accurate. That said, my personal take is that this fund, when compared to some of the exotic financial instruments developed/popularized by "Wall Street" in recent years, is more novelty than anything else. I wouldn't even call it innovative, let alone exotic.