Absolutely fair critique. Cambridge Associates and Preqin are primary data providers in this world, but in talking to our VC customers, we've heard that sample size, reporting bias (funds doing well may be more inclined to participate) and large time lags are a problem with judging VC performance based on their data. Some studies have also found that the same fund can have different returns in each system.
That said, it's the best of what's available today.
The best indicator or proxy that returns suck is that LPs are voting with their wallets and leaving the asset class and investing in it less.
That said, it's the best of what's available today.
The best indicator or proxy that returns suck is that LPs are voting with their wallets and leaving the asset class and investing in it less.