Venture capital as an asset class is generally not insured against investment losses—this risk is inherent to VC and is what drives potential high returns. While VC funds can and do purchase insurance for operational risks (like Directors & Officers, Errors & Omissions, or cyber liability), there is no insurance product that covers the actual investment risk or guarantees returns for LPs. If an insurer were to underwrite investment losses, they would essentially be taking on the fund’s risk, which is not how the VC model is designed to work. For more, see this discussion: [Can Venture Capital Be Insured?](https://decilehub.com/base/1-general_questions/55309-can-venture-capital-be-insured).