![](https://www.lunarmobiscuit.com/wp-content/uploads/2024/01/VC-returns-1981-2015-header-580x110.png)
Venture capital funds often tout cash-on-cash returns of 2x-3x over 10 years. That is the supposed “norm” for successful funds. But despite the industry being tracked investment by investment in detail, the industry as a whole is notoriously opaque when it comes to the returns of the funds. Thank you to Dan Gray (@credistick) who tweeted the following table, with data from 1981...