I like it when they set-up conditions when it's very hard to take your money out. Like, you must wait 6 mo or 1 year and then you can only take out 10% at a time, while we take some small fees even if the hurdle rate isn't achieved. these lock-outs, or whatever, are classic. i'm looking to raise 100 million, and will pay you 100k if you get me the 100 million. now find me that money!!
Mr Winston clearly misspoke -- "They usually make between 10% and 20% of the capital they raise" -- probably he meant 10- 20% of the resultant fee flow.
BTW are you still in the computer-building biz? I heard from a friend the system he bought needs some TLC, which is too bad as he was testing it to "suggest" a vendor to a fund he's associated with.