> with some winners like HuggingFace
Is HuggingFace public or acquired? I checked Wiki. It still looks pre-IPO/un-acquired. So, how exactly is this investment a "winner"?You don't need to sell your stake for it to be a winner. It's a winner because his stake in the company is worth significantly more than when he bought it.
It might not have paid back the initial investment, but the company isn't bankrupt, and you've heard of it.
By the standards of people who invest in 100 start-ups at once, that's success.