The Twenty Minute VC (20VC) · Monday, September 14, 2026
David Morehead, CIO of Baylor University's endowment, explains that the primary goal for private investments is generating money, emphasizing the velocity of capital rather than just returns. He notes that a key rule in their office is to always discuss returns in conjunction with the time it takes to achieve them.
“The single reason that privates exist is to make money. Period. End of story.”
“What we're really after is the velocity of capital, not just returns on capital.”
“There's a rule in our office that you're not allowed to talk about returns without also talking about time.”