VCs and Disclosure. No vc in the world should object to greater disclosure and accountability — hold us to the same standards that everyone else is held to. Battle over disclosure – Venture Capital Journal:
VC firms vow that they will take countermeasures against public pension funds that disclose sensitive information about private equity performance — such as excluding them from upcoming funds. Notes one VC: ‘It’s unbelievable how stupid they are-they’re winning the battle but losing the war. If I had to choose between two investors [one of which required greater disclosure than the other], I would go with the people that don’t have disclosure requirements.’ Thus far, UTIMCO and CalPERS are the two largest institutional investors that have pledged greater transparency on private equity performance. VC industry insiders now worry that other institutional investors may follow their example.