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What do unicorns, power laws, and fund returners have in common?

In this episode of Balentic Edge, Kasper Wichmann sits down with David Clark, CIO and Managing Director at Vencap, to unpack the data-driven truths shaping venture capital. Together they explore why “average” venture funds are a losing bet, how fund returners rather than unicorns drive portfolio outcomes, why LPs should focus on the top 1% of exits worth $10B or more, and what it takes to build lasting VC strategies across cycles.

Whether you’re an LP, GP, or allocator, this is a must-listen conversation about navigating venture capital with discipline, data, and long-term perspective.

Disclaimer: This podcast is provided for informational purposes only and reflects the personal views of the host and guest. It does not represent the views of any affiliated organizations, nor does it constitute investment, legal, tax, or business advice. Listeners should consult their own professional advisors before making any investment decisions.

Cracking the Venture Code: Power Laws & Fund Returners