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![pavelprata Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1384106988871643143.png) Pavel Prata [@pavelprata](/creator/twitter/pavelprata) on x XXX followers
Created: 2025-07-17 16:33:09 UTC

2/ I think the biggest problem isn't just the money - it's the expectations. 

LPs who committed $ to a 2021 vintage fund expected:

- 25%+ IRRs
- 3-5x fund returns
- Portfolio companies going public at billion-dollar valuations

None of that is happening.


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**Related Topics**
[ipo](/topic/ipo)
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