No, not generally. But the repeatable effectiveness of venture is determined by a more causal factor.
Investing in technology is neither art nor science, it requires an understanding of evolution.
The new innovation hub of the future will be in the country or city that understands the meaning of innovation, and is not afraid to pursue it.
Like regular cars and Formula-1 race-cars are.
The risk profiles of private equity and venture capital are diametrically opposite.