That's in Finland. I can guarantee you that in 1994, no one in Finland would have understood. It means that it is easier to raise a very large venture capital fund than it is to raise a smaller one. The reason is simple. You have to do just as much work on a small investment as a large one.
Small investments take too much time.
Institutions don't have the staff for them. And then, rippling onward, the VC firms, who get more and more from the institutions, don't have enough staff to do small deals, so they too make bigger investments. It was almost the same in Europe. Really visible to the public. For the past three years, they have been making investments are a very fast pace.