Why would you invest in a VC fund rather than Bitcoin?

Honestly... It's hard.

You have to pick the team, that are going to pick the winners, that you have to hope can actually do it

The average fund will return a 2x to 3x over 10 years, which is an annual return of circa 25%

Depending on how you calculate it, Bitcoin is more like 50%.

Plus, the vast difference in counter-party risk, liquidity (or lack of), etc, makes it even more difficult

I once read that equity investing on a Bitcoin standard is more like altruistic entrepreneurship

A donation essentially

When you think through these numbers that really hits home