Over the last decade, I co - founded two . investment partnerships as chief investment offi cer (CIO), undertaking direct responsibility for delivery of superior returns to partners. Investment partnerships that mainly trade in securities are loosely called hedge funds, or simply funds, irrespec- tive of whether they actually hedge to reduce risks. While venture capital funds, such as venture funds in Silicon Valley, are basically . investment partnerships, they are considered a distinct breed from hedge funds. .
