Source: Benchmark's 2020 fund is now worth 10x+ and 2024 fund is 3x what investors put in, based on cash distributions and the paper value of its investments
I'm sure the LPs are happy, and this is why VC as an asset class exists for most LPs, upside skew. If I want a 15% net IRR, I can get that in a much better risk adjusted vehicle than a $5b+ VC fund that will take 15+ years to liquidate. Congrats to Benchmark, the model works!