Home Runs for VC Funds? Don't Bet on It

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By John Tozzi

May 17, 2012 at 10:30 PM UTC

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This article is part of the May 21, 2012 issue of businessweek.

The Kauffman Foundation, which promotes entrepreneurship, recently looked at returns from investing part of its $1.8 billion endowment in 99 venture capital funds. Almost half of the funds are in the red, and less than 20 percent have seen big payoffs.