VC industry has been highly concentrated among fewer than TOP 40 venture firms

"Venture capitalists are enjoying growing prominence and swelling investment coffers, and they are taking and receiving credit for considerable job and wealth creation.
Things are not so cheery behind the scenes.
Some limited partners, whose billions of dollars help fund the investments made by venture capitalists and who pay their fetching salaries, are unhappy. They say the industry is far less healthy than it advertises and that but for the most successful venture firms, it is struggling.
Chief among the troubles, they say, is the little publicized but continuing fallout from the dot-com bust coupled with a public market that is wary of embracing technology start-ups."