[dylanjermiah]

The average is meaningless. Venture capital follows the power law. The top 5-10 firms in the U.S. will realise 95%+ of the returns for the entire industry. The Benchmarks, Sequoias, A16Z, etc.

The top companies only want to go with the top investors and vice versa. I wish they'd publish data. I'd love to see Benchmarks ROI on their recent fund, it's likely going to be the best performing fund of all time.