> Why exactly is it that there seems to be only the unicorn strategy? What happened to the investor who just wants to make a few x by investing in firms that are founded by experienced people with connections in their industry?
That exists but then on average you'll be losing money due to the normally expected rate of failure. That can still be a valid strategy, but then you're just not in it for the money, but for the social impact. And some of these funds, once they get good at it do turn into serious moneymakers which in turn allows them to go for the evergreen strategy. This is the holy grail for social impact investing. A good example of such a fund is GIMV from Belgium, but there are many more.
> That exists but then on average you'll be losing money due to the normally expected rate of failure.
Only if you cannot actually deliver on the promise of being a good investor. If you knew how to pick businesses you'd get fewer failures and more winners.
That exists but then on average you'll be losing money due to the normally expected rate of failure. That can still be a valid strategy, but then you're just not in it for the money, but for the social impact. And some of these funds, once they get good at it do turn into serious moneymakers which in turn allows them to go for the evergreen strategy. This is the holy grail for social impact investing. A good example of such a fund is GIMV from Belgium, but there are many more.