Obviously they're "on the same page" now. But they must not have understood the sharp dropoff in VC performance when they invested in mediocre funds, or they would not have done it.
That's not necessarily true. The Kauffman Foundation is a non-profit whose purpose is to support entrepreneurship. Investing in VC may accomplish that goal, even if the investment loses money. Heck, it may have been worth it from a research point of view, just to gather the data that went into this report.
