I don't know if you will ever see this response because I took so long to write it but you do have a point. The casual investor cannot invest in venture funds. One problem with funds like this is that they could end up going to zero if they miss everything or could invest in businesses which are not sound to help their friends.
In an effort to prevent this type of mistreatment of investors it is harder for them to raise money from individuals. In my opinion, the returns to VC firms on the average (not just the home runs) are not worth the potential losses.
But, the reverse argument could certainly be made and it will be an issue that I'm sure is discussed long in to the future.
*One area that most people are not aware exists is the area of fund manager vetting and analysis. This is mostly done by institutional investors and is something the average retail investor would have a lot of difficulty with.
In an effort to prevent this type of mistreatment of investors it is harder for them to raise money from individuals. In my opinion, the returns to VC firms on the average (not just the home runs) are not worth the potential losses.
But, the reverse argument could certainly be made and it will be an issue that I'm sure is discussed long in to the future.
*One area that most people are not aware exists is the area of fund manager vetting and analysis. This is mostly done by institutional investors and is something the average retail investor would have a lot of difficulty with.