5: Transforming Venture Capital
Onward, a Fundrise Production
Is There a Convergence Between Public and Private Markets?
The fund is like our flagship real estate fund except for tech. Most of our investors are young and one of the craziest things you'll look back at like Sequoia invested in Apple when they were starting. And right before they went public, Sequoia sold all their shares in Apple for six times their money. That was a great return for I think it was fund one or two for Sequoia. So it was really good for that fund to show they could raise their next fund six times. But now with 2000 venture funds and essentially the way deals are auctioned, is it really justified less and less so? It's very disruptive not to take 20% of the ups
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