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Venture capital is in something of an identity crisis—multibillion-dollar funds are raising questions about what the future of returns looks like. In that context, Zeplain’s approach is distinctly retro, said Scott Malpass, cofounder and managing partner of Grafton Street Partners and a Mark VC LP. Malpass is one of the few genuinely famous LPs in the industry: He spent 32 years as Notre Dame’s chief investment officer and helped reshape how endowments think about venture.
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