This graph (Pitchbook) tracks private / alternative asset class returns since 2010. VC ranked best performing asset class in a few vintages at ~20% IRR, and 2020 and 2021 notably hit 40% and 50% respectively. On a 15 year horizon, average IRR spans 5-16%, VC and PE sitting somewhere in the middle of that. Just as a comparison the S&P 500 returned about 13% in the last 10 years. The market processes these returns as "good." I found a way to crank those rates by almost 100x… achieving 1K+% IRR on the internet (but it's hard to scale).