In professional sports, player-coaches can be extraordinarily effective: Celtics center Bill Russell won two NBA championships between 1966 and 1969. A recent study suggests that this principle also applies to venture capital. “Recent data from AngelList, pulled for Flex Capital, shows that the founder-led funds raised through its platform outperformed the other funds raised on AngelList,” reports Rebecca Szkutak. “The reality is, we all have some other thing going on in our lives that we are passionate about,” said Jeff Lu, general partner at Flex Capital. “Dual-threat CEOs, their hobby is to invest. At the same time, the experience makes...