As a fund with access to 355 venture capital funds the European Investment Fund (EIF) was able to analyze European venture capital activity from 1996 to 2015 in their new report; the report points out that new funds performed almost as well as seasoned funds in selecting winners when economic times were good; on the contrary when economic times are not as fruitful the skilled venture capitalists were better at picking companies and avoiding big losses; the big takeaway from the report is that the real skill involves avoiding the big disaster investment in tough economic times. Source
