对于技术初创企业的投资者来说，这完全是关于中断。在途中发现一个新的业务来突破一个行业并将其重新放在一起 - Spotify为音乐，Facebook为移动广告 - 以及高风险的猜测是非常值得的。
科技投资者通过分配对如此不同的东西来平衡狩猎下一个伟大的破坏者固有的风险：在技术变革中持有其价值的真实资产。这种策略可能会成为一个泡沫市场的聪明举动。
2009年至2013年，美国的风险投资总额为每年为200亿美元至30亿美元，弗吉尼亚州的弗吉尼亚国家风险投资协会报告。据CB Insights是一家位于纽约的风险投资研究公司的CB Insights，据CB Insights表示，近240亿美元提出。CB Insights笔记，在此期间，第一款融资轮融资的美国技术公司的数量达到超过10亿美元的估值，攀升了133％。这些尖峰促使硅谷VC公司基准的一般合作伙伴促进风险资本家Bill Gurley，声音顾虑关于初创空间中的泡沫。
For angel investor Scott Banister, keeping his portfolio diversified means a dedicated allocation to real estate, especially farmland. Banister, who works out of the Bay Area, was an early investor in e-commerce giant PayPal. His current investments include ride-sharing service Uber and mobile-based delivery business Postmates, both of which are headquartered in San Francisco.
“如果我正在投资技术改变，我想拥有我的投资组合，这些投资组合投资于由于技术变革而导致的物有所值侵蚀，”他告诉亚博赞助欧冠。“If we have a huge amount of technological change, I still think farmland will be valuable, and that means it’s a good counterweight to my investments in trying to make that change happen.”
Banister在旧金山的投资经理举行了农田LP的股份，该经理一直在加利福尼亚州和俄勒冈州收购农田，并将其转化为全面的运营。Co-founder Craig Wichner won’t divulge what proportion of his firm’s investors are tech-focused, but he says Farmland LP, whose fund manages $50 million and plans to raise $250 million more through a private real estate investment trust, has seen “remarkable” interest from tech entrepreneurs and investors.
“These investors recognize that this may be a unique wealth creation time in the tech sector, and they don’t necessarily want to redeploy all of that wealth looking for the next Twitter,” Wichner says. “It’s just prudent investing now to identify other kinds of noncorrelated investments, and real assets like farmland really fit that bill.”
Bay Area Angel Investor and Adviser Owen Van Natta，Facebook的前Coo和游戏开发商Zynga的业务副总裁，投资于商业和住宅房地产。“与房地产有关，不仅有与之相关的东西 - 它的砖和砂浆，物质本质上 - 但如果你制作智能赌注，你还会获得现金流动的公平升值，”他告诉II。
These investment choices are part of a broader movement toward real assets. Low bond yields and high equity valuations have driven投资者to devote more of their portfolios to the asset class, which can offer higher returns than bonds and less volatility than股票据全球真实资产组首席Joseph Azelby说，Joseph Azelby说J.P. Morgan Asset Management在纽约。近年来，Azelby已经看到了组合施工理论从60-40股和债券标准到35-50-15fixed income那股票and备择方案（包括房地产）分别。
他指出，最后一股不断发展。“人们似乎喜欢办公楼的持久性，区域商场，水公司，道路，机场，”Azelby说。“我认为这是真实资产的基本性，让人们觉得拥有它们。他们喜欢拥有重要的资产，他们可以理解。“
实际资产一个重大upt的兴趣ick, agrees Craig Noble, CIO of Brookfield Investment Management, the $16 billion–plus division of Toronto-based Brookfield Asset Management that oversees publicly listed securities. Although the move from fixed income and equities accounts for much of that growth, Chicago-based Noble adds, “we have seen a lot of allocations coming from other areas as well.” That includes “fast-economy” investors who put much of their money into start-ups, he says.
Ali Partovi, co-founder of web-based advertising cooperative LinkExchange, which Microsoft bought in 1998, and an early investor in file storage service Dropbox, Facebook and online retailer Zappos, is another fan of real assets. Also an investor in Farmland LP, Partovi says he was drawn to the firm because he’s heartened by the social impact of converting farmland to organic — and because it’s a necessary balance to his tech-heavy portfolio.
Many people in Silicon Valley have much of their wealth concentrated a particular tech company, says the San Francisco–based financier. “They want to let that wealth continue to grow but also to balance it by keeping some completely safe.”
He advocates the barbell strategy, whereby investors concentrate their money at two extremes — very high-risk, high-growth and very low-risk — as opposed to buying assets with a variety of risk-return profiles.
对于Partovi而言，与杠铃的两端都属于粮农地说：他喜欢纽约的BrightFarms等初创企业，在城市地区的超市附近开发和运行温室农场。但农田LP处于低风险的目的，他表示，他在公司的基金中投入了十倍，而不是在任何冒险中“因为它被真正的资产支持。”