Will Manidis argued that institutional venture-capital incentives reward deploying capital and participating in deals rather than waiting or returning capital to investors.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 9: ARE UNICORNS REALLY WHITE? Valuation Gamification

"Will Manidis argued that institutional venture-capital incentives reward deploying capital and participating in deals rather than waiting or returning capital to investors."

Manidis explicitly argues that LP expectations and institutional fund structures create pressure to deploy on schedule and make waiting or returning capital difficult.

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Source title Patient Capital Will Eat the World

Source authors Will Manidis

Source year 2026

Confidence high

Importance high