The Great LP Exodus: Why Institutional Capital Is Fleeing Venture Capital
Research Dossier for Emerging Managers and Venture Studio Operators
Reading brief
This analysis is part of Venture Capital 2.0’s continuing research on capital structure, governance, and post-power-law venture design.
Subscribe for Free Sign In
You might also like
More in this research lane.
When Capital Writes the Business Plan
The venture market is not short of money. It is short of a gate that opens on evidence.
Venture Reciprocity, Measured
In 2024 I argued that equity makes venture returns unpredictable on two vectors, value and time, and that founders pay for it. A new study of 248,454 venture-backed founders finally puts numbers on both.
The Reformation of Early-Stage Venture Capital: 1H26 Snapshot
PitchBook's Q2 2026 Global VC First Look shows a market splitting in two: record capital deployed and record exit value at the top, and fundraising at a decade low underneath, all while early-stage investing is growing.
Free subscription
For builders, operators, and investors ready for the future of venture capital
Subscribe for Free to continue reading members-only publications, or Sign In if you already have an account.