The endowment and pension fund agree to invest. Cynthia and Mercedes then form “CynMerc” Ventures, which will invest in early stage private companies. With this first fund—let’s call it CynMerc I, CynMerc Ventures will spend 3-5 years investing the money and 5 more years (8 to 10 years in total) to get the pension and endowment money back plus a su

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